ACCOUNTING TERMINOLOGIES PART :- 4

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ALL ABOUT ACCOUNTING :- 30th BLOG

        ☆☆ACCOUNTING☆☆

Hi freinds., 🙏

Today's discuss 21th to 25th accounting terminologies..... 

                                   So let's discuss .....

  21. Business (or Legal) Entity :
This is the legal structure, or type, of a business. Common company formations include Sole Proprietor, Partnership, Limited Liability Corp (LLC), S-Corp and C-Corp. Each entity has a unique set of requirements, laws, and tax implications.


 22. Cash Flow (CF) :
Cash Flow is the term that describes the inflow and outflow of cash in a business. The Net Cash Flow for a period of time is found by taking the Beginning Cash Balance and subtracting the Ending Cash Balance. A positive number indicates that more cash flowed into the business than out, where a negative number indicates the opposite.

 23. Certified Public Accountant (CPA) :
CPA is a professional designation that an accountant can earn by passing the CPA exam and fulfilling the requirements for both education and work experience, which vary by state.

 24. Credit 💳 :
A credit is an increase in a liability or equity account, or a decrease in an asset or expense account.

 25. Debit :
A debit is an increase in an asset or expense account, or a decrease in a liability or equity account.



Remaining 17 terms discuss in 31st blog... 

                                  So wait my 31st blog..... 
 
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