ACCOUNTING TERMINOLOGIES PART :- 5

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ALL ABOUT ACCOUNTING : - 31st BLOG

        ☆☆ACCOUNTING☆☆

Hi freinds., 🙏

Today's discuss 26th to 30th accounting terminologies..... 

                                   So let's discuss .....

  26. Diversification. :
Diversification is a method of reducing risk. The goal is to allocate capital across a multitude of assets so that the performance of any one asset does not dictate the performance of the total.

 27. Enrolled Agent (EA) :
An Enrolled Agent is a professional accounting designation assigned to professionals who have successfully passed tests showcasing expertise in business and personal taxes. Enrolled Agents are generally sought out to complete business tax filings to ensure compliance with the IRS.

 28. Fixed Cost (FC) :
A Fixed Cost is one that does not change with the volume of sales. For example, rent and salaries won't change if a company sells more. The opposite of a Fixed Cost is a Variable Cost.

 29. General Ledger (GL) :
A General Ledger is the complete record of a company’s financial transactions. The GL is used in order to prepare all of the Financial Statements.

 30. Generally Accepted Accounting Principles (GAAP) :
These are the rules that all accountants abide by when performing the act of accounting. These general rules were established so that it is easier to compare ‘point to point’ when looking at a business’s financial reports.






Remaining 12 terms discuss in 32nd blog... 

                                  So wait my 32nd blog..... 
 
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