Term
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Definition
| The length of time for which a business summarizes and reports financial information. |
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Term
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Definition
| A columnar accounting form used to summarise the general ledger information is needed to prepare financial statements. |
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Term
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Definition
| A proof of the equality of debits and credits in a general ledger. |
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Term
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Definition
| Changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period. |
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Term
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Definition
| A financial statement that reports assets, liabilities, and owner's equity on a specific date. |
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Term
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Definition
| A financial statement showing the revenue and expenses for a fiscal period. |
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Term
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Definition
| The difference between total revenue and total expenses when total revenue is greater. |
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Term
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Definition
| The difference between total revenue and total expenses when total expenses are greater. |
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