AAFI Definition

Bookmark and Share

AAFI is Associated Accounting Firms International.

Learn new Accounting Terms

DEBIT RECORD (DR) is an entry in a double-entry bookkeeping system recording an increase in an asset or an expense, or a decrease in liability, or owners equity item. Debit entries are conventionally made on the left-hand side of T accounts.

ZERO-RATED denotes goods on which the buyer pays no value-added tax although the seller can claim back any tax he/she has paid.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.