2017-07-27T18:50:54+03:00[Europe/Moscow] en true Debtor, Income statement, Accounting, Accounts receivable, Bookkeeping, Current asset, Depreciation, Fixed asset, International Financial Reporting Standards, Liability (financial accounting), Quipu, Consolidated financial statement, Accountant, Balance sheet, Double-entry bookkeeping system, Financial statement, Generally accepted accounting principles, Revenue, Giro, Break-even (economics), Creative accounting, Statutory auditor, History of accounting, UN/CEFACT flashcards Accounting
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  • Debtor
    A debtor is an entity that owes a debt to another entity.
  • Income statement
    An income statement (US English) or profit and loss account (UK English) (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, operating statement, or statement of operations) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period.
  • Accounting
    Accounting or accountancy is the measurement, processing and communication of financial information about economic entities such as businesses and corporations.
  • Accounts receivable
    Accounts receivable is a legally enforceable claim for payment held by a business for goods supplied and/or services rendered that customers/clients have ordered but not paid for.
  • Bookkeeping
    Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.
  • Current asset
    In accounting, a current asset is any asset which can reasonably be expected to be sold, consumed, or exhausted through the normal operations of a business within the current fiscal year or operating cycle (whichever period is longer).
  • Depreciation
    In accountancy, depreciation refers to two aspects of the same concept: * The decrease in value of assets (fair value depreciation) * The allocation of the cost of assets to periods in which the assets are used (depreciation with the matching principle)
  • Fixed asset
    Fixed assets, also known as tangible assets or property, plant, and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash.
  • International Financial Reporting Standards
    International Financial Reporting Standards (IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries.
  • Liability (financial accounting)
    In financial accounting, a liability is defined as the future sacrifices of economic benefits that the entity isobliged to make to other entities as a result of past transactions or other past events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.
  • Quipu
    Quipus, sometimes known as khipus or talking knots, were recording devices historically used in a number of cultures and particularly in the region of Andean South America.
  • Consolidated financial statement
    Consolidated financial statements are the "Financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent (company) and its subsidiaries are presented as those of a single economic entity", according to International Accounting Standard 27 "Consolidated and separate financial statements", and International Financial Reporting Standard 10 "Consolidated financial statements".
  • Accountant
    An accountant is a practitioner of accounting or accountancy, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resource(s).
  • Balance sheet
    In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of an individual or organisation, whether it be a sole proprietorship, a business partnership, a corporation, Private limited company or other organization such as Government or not-for-profit entity.
  • Double-entry bookkeeping system
    Double-entry bookkeeping, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account.
  • Financial statement
    A financial statement (or financial report) is a formal record of the financial activities and position of a business, person, or other entity.
  • Generally accepted accounting principles
    Generally accepted accounting principles (GAAP) are the standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards or standard accounting practice.
  • Revenue
    In accounting, revenue is the income that a business has from its normal business activities, usually from the sale of goods and services to customers.
  • Giro
    A giro (/ˈdʒaɪəroʊ/, /ˈdʒɪroʊ/, /ˈʒɪroʊ/, /ˈdʒɪəroʊ/, or /ˈʒɪəroʊ/), or giro transfer, is a payment transfer from one bank account to another bank account and instigated by the payer, not the payee.
  • Break-even (economics)
    The break-even point (BEP) in economics, business, and specifically cost accounting, is the point at which total cost and total revenue are equal: there is no net loss or gain, and one has "broken even.
  • Creative accounting
    Creative accounting is a euphemism referring to accounting practices that may follow the letter of the rules of standard accounting practices, but deviate from the spirit of those rules.
  • Statutory auditor
    Statutory auditor is a title used in various countries to refer to a person or entity with an auditing role, whose appointment is mandated by the terms of a statute.
  • History of accounting
    The history of accounting or accountancy is thousands of years old and can be traced to ancient civilizations.
    UN/CEFACT is the United Nations Centre for Trade Facilitation and Electronic Business.