ACCOUNTING TERMINOLOGIES
ALL ABOUT ACCOUNTING :- 27th BLOG ☆☆☆ACCOUNTING☆☆☆ Hi freinds., 🙏 Today's discuss accounting terminologies..... So let's discuss ..... ★ ACCOUNTING TERMINOLOGIES :- Accounting terminology gives the complete description of the terms that are used and it is important to know the accounting terminology before delving into the subject. Total 42 accounting terminologies all business man should know. So let's discuss one by one... ★BALANCE SHEET TERMS : The Balance Sheet is one of the two most common financial statements produced by accountants. This section pertains to potentially confusing terms that relate to the balance sheet. 1. BALANCE SHEET (B/S) : A financial statement that reports on all of a company’s assets, liabilities, and equity. As suggested by its name, a balance sheet abides by the equation <Assets = Liabilities + Equity>. 2. ACCOUNTS PAYABLE (A/P) : Accounts Payable include all of the expenses tha