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In accounting, goodwill is an intangible asset recognized when a firm is purchased as a going concern.It reflects the premium that the buyer pays in addition to the net value of its other assets.
Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.
BAU – Business as usual; BEP – Break-even point; BI – Business intelligence; BIC – Bank identifier code; bldg. – Building BLS – Balance sheet; BOM – Bill of materials; BPO – Business process outsourcing
Chart of accounts – list of the accounts used by a business entity to define each class of items for which money or the equivalent is spent or received. Constant item purchasing power accounting – consistent method of indexing accounts by means of a general index which reflects changes in the purchasing power of money. It therefore attempts ...
An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers.An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.
Between the 4th millennium BC and the 3rd millennium BC, the ruling leaders and priests in ancient Iran had people oversee financial matters. In Godin Tepe (گدین تپه) and Tepe Yahya (تپه يحيی), cylindrical tokens that were used for bookkeeping on clay scripts were found in buildings that had large rooms for storage of crops.
Chinese accounting standards are the accounting rules used in mainland China. As of February 2010, the Chinese accounting standard systems is composed of Basic Standard, 38 specific standards and application guidance. Chinese accounting standards are unique because they originated in a socialist period in which the state was the sole owner of ...
A chart of accounts provides a listing of all financial accounts used by particular business, organization, or government agency. The system of recording, verifying, and reporting such information is called accounting. Practitioners of accounting are called accountants. [1]