accrual basis of accounting
An accounting method whereby revenues are recognized in the specific accounting period in which they are earned, without regard to the date of cash re [...]
cash basis of accounting
The recognition of revenue and expenses on a firm’s books when cash is received and paid, respectively, regardless of the period in which the correspo [...]
ledger
A book of accounts to which transaction summaries are posted into T-accounts from journals in the form of debits and credits. [...]
journal
A book or record of original entries in a double-entry system, listing all accounting events in chronological order, each event showing the accounts a [...]
worksheet
A columnar form used to facilitate the preparation of the final financial statements, in which the accounts in a trial balance are classified such tha [...]
trial balance
A listing of all the accounts in the general ledger and their balances as of a given date, usually prepared at the end of an accounting period to prov [...]
