Glossary

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transaction

Subject: 

  • Accounting

agreement between a buyer and a seller to exchange an asset for payment

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non-profit organisation
Subject:
Accounting

organisation that renders a service to members

liability
Subject:
Accounting

debt that the business incurs and that is payable in the short or long term.

accounting period
Subject:
Accounting

(also called book year, financial year or financial period) specific period used for calculating...

turnover
Subject:
Accounting

total amount of money a business makes over a certain period

medium-term budgeting
Subject:
Accounting

budgeting done at lower levels, usually only for one year.