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| − | [[Four-column account]] is a running balance account that records debits and credits and has a column for an ending balance (debit or credit). It replaces the standard two-column account we used earlier.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Four-column account]]. A running balance account that records debits and credits and has a column for an ending balance (debit or credit). It replaces the standard two-column account we used earlier.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| | [[Cross-referencing]] is adding to the PR column of the journal the account number of the ledger account that was upgraded from the [[general journal]]. | | [[Cross-referencing]] is adding to the PR column of the journal the account number of the ledger account that was upgraded from the [[general journal]]. |
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| | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], |
| | :[[Cross-referencing]]. Adding to the PR column of the journal the account number of the ledger account that was upgraded from the [[general journal]]. | | :[[Cross-referencing]]. Adding to the PR column of the journal the account number of the ledger account that was upgraded from the [[general journal]]. |
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Slide]] is the error that results in adding or deleting zeros in the writing of a number such as 79,200 instead of 7,920.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Slide]]. The error that results in adding or deleting zeros in the writing of a number such as 79,200 instead of 7,920.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Transposition]] is the accidental rearrangement of digits of a number such as 152 instead of 125.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Transposition]]. The accidental rearrangement of digits of a number such as 152 instead of 125.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Worksheet]] is a columnar device used by accountants to aid them in completing the accounting cycle -- often just referred to as [[spreadsheet]]. It is not a formal report.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Worksheet]]. A columnar device used by accountants to aid them in completing the accounting cycle -- often just referred to as [[spreadsheet]]. It is not a formal report.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − |
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Adjusting]] is the process of calculating the latest up-to-date balance of each account at the end of an [[accounting period]].
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Adjusting]]. The process of calculating the latest up-to-date balance of each account at the end of an [[accounting period]].
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Accrued salaries payable]] are salaries that are earned by employees but unpaid and unrecorded during the period (and thus need to be recorded by an adjustment) and will not come due for payment until the next [[accounting period]].
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Accrued salaries payable]]. Salaries that are earned by employees but unpaid and unrecorded during the period (and thus need to be recorded by an adjustment) and will not come due for payment until the next [[accounting period]].
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − |
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Adjusting journal entry]] is any [[journal entry]] that are needed in order to update specific ledger accounts to reflect correct balances at the end of an [[accounting period]].
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Adjusting journal entry]]. [[Journal entry|Journal entri]]es that are needed in order to update specific ledger accounts to reflect correct balances at the end of an [[accounting period]].
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − |
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Permanent account]] (also known as [[real account]]). An [[financial account|account]], such as [[Assets]], [[Liabilities]], and [[Owner's Capital]], whose balances are carried over to the next [[accounting period]].
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Permanent account]] (also known as [[real account]]). An [[financial account|account]], such as [[Assets]], [[Liabilities]], and [[Owner's Capital]], whose balances are carried over to the next [[accounting period]].
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − |
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Temporary account]] (also known as [[nominal account]]) is an [[financial account|account]] whose balances at the end of an [[accounting period]] are not carried over to the next [[accounting period]].
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Temporary account]] (also known as [[nominal account]]). An [[financial account|account]] whose balances at the end of an [[accounting period]] are not carried over to the next [[accounting period]].
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − |
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Closing journal entry]] is a [[journal entry]] that is prepared to (a) reset all [[temporary account]]s to a zero balance and (b) update [[Owner's Capital]] to a new balance.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Closing journal entry]]. A [[journal entry]] that is prepared to (a) reset all [[temporary account]]s to a zero balance and (b) update [[Owner's Capital]] to a new balance.
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| − | ==Related concepts==
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| − | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
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| − |
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| − | ==Related coursework==
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| − | *[[Principles of Accounting]].
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| − | [[Category: Accounting]][[Category: Articles]]
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| − | [[Post-closing trial balance]] is the final step in the [[accounting cycle]] that lists only [[permanent account]]s in the [[ledger]] and their balances after [[adjusting journal entry|adjusting]] and [[closing journal entry|closing entri]]es have been posted.
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| − | ==Definitions==
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| − | According to [[College Accounting: A Practical Approach by Slater (13th edition)]],
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| − | :[[Post-closing trial balance]]. The final step in the [[accounting cycle]] that lists only [[permanent account]]s in the [[ledger]] and their balances after [[adjusting journal entry|adjusting]] and [[closing journal entry|closing entri]]es have been posted.
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| | ==Related concepts== | | ==Related concepts== |
