What is the meaning of the term accounting system?

Answer Accounting systems are the primary data collection areas for many companies in today's business climate. Both financial and nonfinancial data may be stored and organized in the company's accounting... Read More »

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What Does the Accounting Term GL Mean?

According to Dartmouth College, the accounting term GL stands for general ledger. A general ledger is a book that holds the individual accounting transactions of a company in a double-entry system ... Read More »

What does the accounting term""in the red""mean?

The term "in the red" means a company is in debt and owes money to the bank or its creditors. The phrase has been used to describe a business's financial problems since the 1920s.DefinitionAny busi... Read More »

What does the accounting term gs&a expenses mean?

The accounting term GS&A (sometimes written as SG&A) expenses stands for general, sales and administrative expenses. These are the expenses, both fixed and variable, incurred in running a business.... Read More »

What does the accounting term accrual mean?

The term "accrual" refers to a type of accounting which reports income as earned and expenses as they are incurred. The other type of accounting, cash basis accounting, reports income as it is rece... Read More »