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financial accounting A term usually applied to external reporting by a business where that reporting is presented in financial terms. 0000007439 00000 n MODULE - 1 Business Environment Notes 61 Basic Accounting Principles DIPLOMA IN INSURANCE SERVICES the enterprise. endstream endobj 340 0 obj <>/Size 318/Type/XRef>>stream Accounts Payable: financial accounting A term usually applied to external reporting by a business where that reporting is presented in financial terms. 0 0000003614 00000 n financial adaptability The ability of the company to respond to unexpected needs or opportunities. 2. This explanation of accounting basics will introduce you to some basic accounting principles, accounting concepts, and accounting terminology. xref 0000000790 00000 n 0000006767 00000 n Download Accounting Terms And Terminologies doc. Accounting: A service that oversees, measures, and evaluates financial information for decision making purposes. 0000001615 00000 n 2) Equity: In broader sense, the term equity refers to total <<697FC20C46FE81488707175340D94DAA>]>> financial adaptability The ability of the company to respond to unexpected needs or opportunities. Accountant's Equation: The equation that is the basis of the Balance Sheet: Assets = Liabilities + Owners' Equity. startxref Accounting Period - Expenditure and revenue measurement within a pre-determined time frame.There 0000002674 00000 n x�bbb`b``Ń3� ���� � �� h�bbd``b`z$�C�`y�j�$&�X �H a���LH��"#�9�F2����� ` 0000004709 00000 n It is ideal for students of accounting and for anyone %PDF-1.4 %���� 0000006158 00000 n 89 0 obj <>stream 1. x�b```b``g`e`�*e�e@ ^�(���Oc�����v`�=s�t����J�8|�98�J�1 k�Q��ɢ�PP4�9d��9��y�Z�����60�@��k��30�2�p6���c`8��@S�bO���%�M�M)�U� �}�@��_�(�ܫ`�2��CD�/n�$ú �D� 2O7 endstream endobj 319 0 obj <>/Outlines 15 0 R/Metadata 24 0 R/PieceInfo<>>>/Pages 23 0 R/PageLayout/OneColumn/OCProperties<>/OCGs[320 0 R]>>/StructTreeRoot 26 0 R/Type/Catalog/LastModified(D:20080428155414)/PageLabels 21 0 R>> endobj 320 0 obj <. 0000004318 00000 n 0000001102 00000 n 0000003391 00000 n Preface This dictionary provides a basic vocabulary of terms used in accounting, from personal finance and investments to company accounts, balance sheets and stock valuations. 3. FUNDAMENTALS OF ACCOUNTING Study Note 1 : Accounting Process 1.1Introduction 1.1 1.2 Definitions 1.2 1.3Book-Keeping 1.4 1.4 Accounting Cycle 1.5 1.5 Basic Accounting Terms 1.6 1.6 Generally Accepted E.g., land, building, machinery, cash etc. Most accounting software programs allow the bookkeeper to export information to excel or pdf for various uses. 0000001284 00000 n 0000000016 00000 n 0 trailer Inferring details and may The guide is an important resource that will help to create a much greater understanding of the dense and obscure jargon which is used on Terms is just one of the achievements of EBS’s partnership with NALA. 0000008120 00000 n Accounting Basics For Beginners ACCOUNTING BASICS FOR BEGINNERS Module 1: Nature of Financial Accounting h�b```f``�c`a``�ed@ A�r4200L=�"���z�Õ�.�د��0̊�9�H)����΅�]B~a�����w�=�b���o���$::2�GCGG�GH��1@��l����b~�;C�t��� R �,�/ӌ�*xU�400\o +Ra`2�r)w�:�[.��(` l�>� 1) In many cases it is possible to export creditor payments from the software and upload directly to the bank for payment so that the account and details do not have to be manually entered into the bank – a real time saver if you have a lot of bills to pay. 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