Category: Definitions


  • Administration

    In business, administration refers to the management of a company’s day-to-day operations. It includes tasks such as planning,…

  • Trial balance

    A trial balance is a bookkeeping worksheet that lists the balances of all ledgers (accounts) that have nonzero balances. A trial balance is…

  • Ledger

    A ledger is a book or digital record that stores bookkeeping entries. The ledger shows the account’s opening balance, all debits and…

  • Income statement

    An income statement is a financial report that shows a company’s profit and loss over a period of time, usually a quarter…

  • Cash flow statement

    A cash flow statement is a financial report that details how cash flows i.e. entered and left a business during…

  • Balance sheet

    A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholder equity at a specific point in time1. It…

  • Accounting

    Accounting is the process of recording, classifying and summarizing financial transactions. It provides a clear picture of the financial health of your…