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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.
The ledger is a permanent summary of all amounts entered in supporting journals (day books) which list individual transactions by date. Usually every transaction, or a total of a series of transactions, flows from a journal to one or more ledgers. Depending on the company's bookkeeping procedures, all journals may be totaled and the totals ...
Staff accountants typically have bachelor degrees but are not necessarily Certified Public Accountants. Typical duties of a staff accountant include preparing journal entries and reconciliations. Staff accountants may also perform duties such as accounts payable and accounts receivable. [ 6] A corporate staff accountant typically reports to a ...
e. In bookkeeping, an account refers to assets, liabilities, income, expenses, and equity, as represented by individual ledger pages, to which changes in value are chronologically recorded with debit and credit entries. These entries, referred to as postings, become part of a book of final entry or ledger. Examples of common financial accounts ...
The impersonal passive voice is a verb voice that decreases the valency of an intransitive verb (which has valency one) to zero. [ 1]: 77. The impersonal passive deletes the subject of an intransitive verb. In place of the verb's subject, the construction instead may include a syntactic placeholder, also called a dummy.
Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount. [ 1][ 2][ 3] A business will sometimes factor its receivable assets to meet its present and immediate cash needs. [ 4][ 5] Forfaiting is a factoring arrangement ...
e. Financial accounting is a branch of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. [ 1] This involves the preparation of financial statements available for public use. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are ...
Credit management. Credit management is the process of granting credit, setting the terms on which it is granted, recovering this credit when it is due, and ensuring compliance with company credit policy, among other credit related functions. This task is often performed by a credit manager who is a person employed by an organization to manage ...