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- Types of account:
(1) Asset Accounts : stand for the different types of financial resources owned by a trade, ordinary examples of Asset accounts are cash, cash in bank, building, inventory, prepaid rent, goodwill, accounts receivable (2) Liability accounts: stand for the different types of financial obligations by a business, such as accounts payable, bank loan, bonds payable, accrued interest. (3) Equity accounts: stand for the outstanding equity of a business (after deducting from Assets all the liabilities) as well as reserved income and Appropriations. (4) Revenue or income accounts: stand for the company's gross income and ordinary examples contain Sales, Service revenue and Interest Income. (5) Expense accounts: stand for the company's expenditures to allow itself to function. ordinary examples are electricity and water, rentals, depreciation, doubtful accounts, interest, insurance, telephone, car fule
- Accentuating study: AAT (Association of Accounting Technician's), ACCA (Association of Chartered Certified Accountants), CIMA (Chartered Institute of Management Accountants), ACA (Association of Consulting Actuaries)
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Accounting and finance Jobs or employment: Job centre Plus (Where you can get help, search and apply for your dream accounting job).
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Online tax authorities: For United Kingdome (HM Revenue & Customs)
- To know more about Fundamentals of accounts please click here!
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