by pay@crispino.us | Jun 4, 2026 | Key Accounting Concepts, Terminologies
Recognizes revenues when earned and expenses when incurred, regardless of cash movement. This method provides a more accurate picture of financial performance. Required by most accounting standards.
by pay@crispino.us | Jun 2, 2026 | Financial Analysis, Terminologies
The use of borrowed funds to increase potential returns. While leverage can magnify profits, it also increases risk. Commonly assessed through debt ratios.
by pay@crispino.us | May 27, 2026 | Accounting Proram, Terminologies
Templates set up for expenses or revenues that happen regularly, such as rent, subscriptions, or payroll. Once created, the system posts them automatically on schedule. Helps maintain consistency and avoids missed entries.
by pay@crispino.us | May 24, 2026 | Accounting Fundamentals, Terminologies
The book of original entry where all transactions are first recorded before being posted to the ledger. Each entry shows accounts affected, debit and credit amounts, and a description. It ensures chronological documentation of activities.
by pay@crispino.us | May 24, 2026 | Chart of Accounts, Liabilities, Terminologies
Formal written promises to pay lenders, often with interest, within a set timeframe. They may be short-term or long-term depending on maturity. Notes provide structured financing.
by pay@crispino.us | May 24, 2026 | Chart of Accounts, Expenses, Terminologies
Premiums paid for various insurance policies such as health, liability, or property. Recognized over the coverage period. Provides risk protection.
