Search results
Results from the WOW.Com Content Network
Liability accounts are used to recognize liabilities. A liability is a present obligation of an entity to transfer an economic benefit (CF E37). Common examples of liability accounts include accounts payable, deferred revenue, bank loans, bonds payable and lease obligations. Equity accounts are used to recognize ownership equity. The terms ...
Double-entry bookkeeping, also known as double-entry accounting, is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. . Every entry to an account requires a corresponding and opposite entry to a different acco
Capital account of each partner represents his equity in the partnership. Capital account of a partner is increased in the following situations: The owner made additional investments during the year. The owner made guaranteed payments to the firm. Partnership earned profits, and a share of profits was allocated to the partner.
The modern double entry system was likely a direct precursor of the first European adaptation many centuries later. [4] The first known use of the terms "debit" and "credit" occurred in the Venetian Luca Pacioli's 1494 work, Summa de Arithmetica, Geometria, Proportioni et Proportionalita (A Summary of Arithmetic, Geometry, Proportions and Proportionality).
SAF-T (Standard Audit File for Tax) is an international standard for electronic exchange of reliable accounting data from organizations to a national tax authority or external auditors. The standard is defined by the Organisation for Economic Co-operation and Development (OECD).
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
This is the SPA or single-purpose account template. It is used to mark comments made by single-purpose accounts with "– This user has made few or no other edits outside this topic" . Please remember that a comment should not be dismissed merely because it comes from a new account; in itself, this is an argument to the person, considered to be ...
This page was last edited on 4 January 2013, at 16:37 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may ...