BASIC ACCOUNTING Definition

Bookmark and Share

BASIC ACCOUNTING normally includes the areas of Debits and Credits; Accounts; Assets, Liabilities, Equity, Revenue and Expenses; and, an accounting system that offers a method for checking, balancing, and reconciling all accounting related transactions in order to produce accurate pictures of the entities financial health. Profit and Loss Reports, Balance Sheets, and Cash Flow Statements are the end result of compiling all the transactions into meaningful, usable information for individuals and business owners alike.

Learn new Accounting Terms

PPV is Purchase Price Variance.

INSIDE MARKET is the highest bid and the lowest ask (offer) prices among all Market Makers competing in a NASDAQ security; the best bid and ask prices for a security

Suggest a Term

Enter Search Term

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