Commonly Used Accounting Words/Phrases
Published by slang March 21st, 2007 in Accounting PrinciplesYou don’t need to be an Accountant but you do need to understand at least some of the commonly used Accounting Words in the Financial Statements of Annual Reports:
Understand What Are Accounting Fundamental Errors
Understand What Are Changes In Accounting Policies
Understand The Difference Between Cash Basis Accounting Method And Accrual Method
Know the difference between Capital And Revenue-expenditure
Understand The Difference Between Fair Value Versus Historical Cost
Understand The Difference Between Principle Based Versus Rule Based-Accounting Standards
Understand The Different Between Profit Versus Cash Concept
Understand What Is Free Cash Flow
Understand What is Overtrading- Its definition-Causes Consequences And Remedy
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