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  2. Accounts receivable - Wikipedia

    en.wikipedia.org/wiki/Accounts_receivable

    Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.

  3. List of accounting roles - Wikipedia

    en.wikipedia.org/wiki/List_of_accounting_roles

    An entry-level accounting position, usually reporting to any of the higher level accounting positions, or in smaller companies, to the controller. They may or may not have a bachelor's degree, and their main responsibilities will usually include reconciling accounts and preparing preliminary reports. [7] [8]

  4. How Accounts Payable Are Recorded on a Balance Sheet - AOL

    www.aol.com/accounts-payable-recorded-balance...

    In contrast, accounts receivable are considered an asset. That’s because accounts receivable represent funds other companies owe the organization. Suppose a souvenir company purchases $1,000 ...

  5. SOX 404 top–down risk assessment - Wikipedia

    en.wikipedia.org/wiki/SOX_404_top–down_risk...

    With account misstatement risk and CFR defined, management can then conclude on ICFR risk (low, medium, or high) for the control. ICFR is the key risk concept used in evidence decisions. The ICFR rating is captured for each control statement. Larger companies typically have hundreds of significant accounts, risk statements, and control statements.

  6. Financial accounting - Wikipedia

    en.wikipedia.org/wiki/Financial_accounting

    Financial statements display the income and expenditure for the company and a summary of the assets, liabilities, and shareholders' or owners' equity of the company on the date to which the accounts were prepared. Asset, expense, and dividend accounts have normal debit balances (i.e., debiting these types of accounts increases them).

  7. General ledger - Wikipedia

    en.wikipedia.org/wiki/General_ledger

    The general ledger should include the date, description and balance or total amount for each account. Because each bookkeeping entry debits one account and credits another account in an equal amount, the double-entry bookkeeping system helps ensure that the general ledger is always in balance, thus maintaining the accounting equation:

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