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Likewise, in the liability account below, the X in the credit column denotes the increasing effect on the liability account balance (total credits less total debits), because a credit to a liability account is an increase. All "mini-ledgers" in this section show standard increasing attributes for the five elements of accounting.
For example, $225K would be understood to mean $225,000, and $3.6K would be understood to mean $3,600. Multiple K's are not commonly used to represent larger numbers. In other words, it would look odd to use $1.2KK to represent $1,200,000. Ke – Is used as an abbreviation for Cost of Equity (COE).
Information security is the practice of protecting information by mitigating information risks. It is part of information risk management. [1] It typically involves preventing or reducing the probability of unauthorized or inappropriate access to data or the unlawful use, disclosure, disruption, deletion, corruption, modification, inspection, recording, or devaluation of information.
The accounting equation is a statement of equality between the debits and the credits. The rules of debit and credit depend on the nature of an account. For the purpose of the accounting equation approach, all the accounts are classified into the following five types: assets, capital, liabilities, revenues/incomes, or expenses/losses.
ISO/IEC 27001 is an international standard to manage information security.The standard was originally published jointly by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) in 2005, [1] revised in 2013, [2] and again most recently in 2022. [3]
Information assurance (IA) is the practice of assuring information and managing risks related to the use, processing, storage, and transmission of information. Information assurance includes protection of the integrity , availability, authenticity, non-repudiation and confidentiality of user data. [ 1 ]
The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard used to handle credit cards from major card brands.The standard is administered by the Payment Card Industry Security Standards Council, and its use is mandated by the card brands.
An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers.An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.