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Accounting Terms and Definitions Glossary / QuickBooks ~ A balance sheet is a snapshot of a business’s financial position at a particular date (usually the end of a financial year) that lists all of a business’s assets and liabilities. Bookkeeping. The recording of a business’s financial transactions, and a part of the accounting process. Double entry bookkeeping is the method most commonly used.
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30 Basic Accounting Terms, Acronyms and Abbreviations ~ To help you get started, we compiled an assortment of basic financial terms and acronyms and created this simple accounting glossary for beginners. Basic accounting terms, acronyms, abbreviations and concepts to remember. Check out these basic accounting definitions and start to commit them to memory.
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