by Online Tutorial & Training Guide | Oct 29, 2025 | Accounting Fundamentals, Terminologies
An accounting method where every transaction affects at least two accounts, with equal debits and credits. This system ensures the accounting equation (Assets = Liabilities + Equity) always remains balanced. It is the global standard for accurate accounting.
by Online Tutorial & Training Guide | Oct 28, 2025 | Chart of Accounts, Equity, Terminologies
Represents ownership interest in a corporation. Issued shares grant voting rights and residual claim on profits. Equity increases when stock is sold to investors.
by Online Tutorial & Training Guide | Oct 28, 2025 | Financial Statements, Terminologies
Measures how effectively a company generates profit from shareholders’ investments. Calculated as Net Income ÷ Shareholders’ Equity. A key metric for investors.
by Online Tutorial & Training Guide | Oct 27, 2025 | Other Key Terms, Terminologies
The master set of accounts that consolidates all financial transactions of a business. It contains both balance sheet and income statement accounts. The G/L is the backbone of financial reporting.
by Online Tutorial & Training Guide | Oct 25, 2025 | Assets, Chart of Accounts, Terminologies
A temporary account used to track goods bought for resale. At the end of the period, it adjusts into inventory and COGS. Helps monitor supplier activity and inventory turnover.
by Online Tutorial & Training Guide | Oct 25, 2025 | Chart of Accounts, Liabilities, Terminologies
A long-term liability secured by real property. Payments typically include both principal and interest. Often broken into current and long-term portions.
