Better Understand Accounting Terms & Definitions
Find definitions, related words, common misconceptions, and use cases for beginner to advanced accounting terms.
Latest Terms Added
Learn the COGS meaning in accounting, how Cost of Goods Sold is calculated, and why it matters for pricing, profitability,…
We define accounts receivables and how it organizes financial data for businesses, enhancing clarity and financial management.
Learn what is a P&L and how it organizes financial data for businesses, enhancing clarity and financial management.
Learn what a Chart of Accounts is and how it organizes financial data for businesses, enhancing clarity and financial management.
Learn what a balance sheet is, its components, and its importance in financial analysis and business decision-making.
Learn the fundamentals of double entry bookkeeping, its principles, and how it ensures accurate financial records for businesses.
Learn what a check register is, its importance in managing finances, and how to maintain one effectively for accurate record-keeping.
Understand the Petty Cash meaning, its purpose, management, and best practices for effective financial control in your organization.
Understand the fundamentals of Cash Basis Accounting, its benefits, limitations, and how it compares to accrual accounting for your business.
Grow & Refine Your Accounting Vocabulary
Expand your financial vocabulary and get a deeper understanding of the terminology you use every day.
This website helps me explain advanced accounting terms to my clients, to help them better understand their financial data.
James Bennett
Bookkeeper