compound journal entry
A journal entry that involves more than one debit or more than one credit, or both. [...]
closing adjusting entry
The accounting recognition of accruals and deferrals at the end of the accounting period in order to achieve proper matching of revenues and expenses [...]
closing the accounts
The transferring of the balances of revenues and expenses at the end of the period to the income summary account. [...]
bookkeeping
The systematic recording of the amounts, dates and sources of transactions and events pertaining to accounting entities; it is an accounting support f [...]
book-keeping
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basic accounting equation
The equation that represents the relationship between a company’s assets, liabilities and owners’ equity, serving as the foundation of the double-entr [...]
