ACCOUNTING TERMINOLOGIES PART : 7
ALL ABOUT ACCOUNTING : 33rd BLOG ☆☆ACCOUNTING☆☆ Hi freinds., 🙏 Today's discuss 36th to 42nd accounting terminologies..... So let's discuss ..... 36. Overhead : Overhead are those Expenses that relate to running the business. They do not include Expenses that make the product or deliver the service. For example, Overhead often includes Rent, and Executive Salaries. 37. Payroll : Payroll is the account that shows payments to employee salaries, wages, bonuses, and deductions. Often this will appear on the Balance Sheet as a Liability that the company owes if there is accrued vacation pay or any unpaid wages. 38. Present Value (PV) : Present Value is a term that refers to the value of an Asset today, as opposed to a different point in time. It is based on the theory that cash today is more valuable than cash tomorrow, due to the concept of inflation. 39. Receipts : A Receipt is a document that proves payment was made. A business pro