- A highly
trained professional who is skilled at keeping business records. The
who organizes an accounting system, prepares the financial statements,
and interprets the results of those statements.
- A record
of a business transaction or "deal".
- The complete sequence of accounting activities repeated in
Another term for bookkeeper.
- The basic form of a balance sheet. The accounting equation
three parts or
elements: Assets, Liabilities and Owner's Equity.
Amounts due to creditors for the purchase of goods or services on
- Are amounts claimed against debtors, usually arising from the
or services on credit. The record of what each customer owes you.
Shows how fast merchandise or inventory moves through the business. To
calculate, divide inventory by cost of goods sold and multiply by 365.
Shows how long a business takes to pay its suppliers. To calculate,
by purchase and multiply by 365.
- Shows how long a business takes to collect its receivables.
receivable by sales and multiply by 365.
an idea or a problem down into its parts for a good examination
- A legal document filed and approved by the state, province and or
that sets forth the purposes and regulations for a corporation.
- All economic
resources (items of value) owned by a business or individual, such as
inventories, land, buildings.
- The maximum amount you can borrow against your operating loan. This
is the lesser of your approved operating loan limit or the
placed on your accounts receivable and /or inventory.
- A service that lets a company send payroll data (on paper, by
etc.) to the bank and the bank handles all other details of the