Glossary
Plain-English definitions of common accounting and tax terms.
Accounting Terms
- Accruals
- Income or expenses recorded in accounts when earned or incurred, not when cash is received or paid.
- Balance Sheet
- A financial statement showing a company's assets, liabilities, and equity at a specific point in time.
- Cash Flow
- The movement of money in and out of a business, showing liquidity and ability to pay obligations.
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