Difference between revisions of "Sales Discounts"
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| − | [[Sales Discount account]] is a contra-revenue account that records cash discounts granted to customers for payments made within a specific period of time. | + | [[Sales Discounts]] (alternatively known as [[Sales Discount]] or [[Sales Discount account]]) is a contra-revenue account that records cash discounts granted to customers for payments made within a specific period of time. |
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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]]. | *[[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]]. | ||
| − | ==Related | + | ==Related lectures== |
*[[Principles of Accounting]]. | *[[Principles of Accounting]]. | ||
| − | [[Category: Accounting]][[Category: Articles]] | + | [[Category: International Accounting]][[Category: Articles]] |
Latest revision as of 23:58, 4 January 2019
Sales Discounts (alternatively known as Sales Discount or Sales Discount account) is a contra-revenue account that records cash discounts granted to customers for payments made within a specific period of time.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Sales Discount account. A contra-revenue account that records cash discounts granted to customers for payments made within a specific period of time.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. 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.
