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Accounts Keyword

Accrual:- Recognition of revenues and costs as they are earned or incurred. It includes recognition of transactions relating to assets and liabilities as they occur irrespective of the actual receipts or payment.

Cost:-  The amount of expenditure incurred on or attributable to a specified article, product, or activity.

Expenses:- A cot relating to the operations of an accounting period.

Revenue:- Total amount received from sales of goods/services. 

Income:- Excess of revenue over expenses.

Loss:- Excess of expenses over revenue.

Capital:- Generally refers to the amount invested in an enterprise by its owner.

Fund:- An account usually of the nature of a reserve or provision which is represented by specifically Ear Market Assets. 

Gain:- A monetary benefit, profit or advantage resulting from a transaction or group of transactions. 

Investment:- Expenditure on assets held to earn interest, income, profit or other benefits. 

Liability:- The financial obligation of an enterprise other than owners’ funds. 

Net Profit:- The excess of revenue over expenses during a particular accounting period.


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