Business / Accounting / Accounting Equation
Accounting Equation: The formula used to prepare a balance sheet: assets = liability + equity .
Double-Entry Accounting: A system of recording transactions in a way that maintains the equality of the accounting equation.
Ionic Equation: An ionic equation is a balanced chemical equation in which strong electrolytes are written as dissociated ions. For example, Ag+(aq) + NO3-(aq) + Na+(aq) + Cl-(aq) = agcl(s) + Na+(aq) + NO3- . . . View Full Definition
Management Accounting: The area of accounting concerned with providing internal financial reports to assist management in making decisions.
Inflation Accounting: The rate at which the general level of prices for goods and services is rising.
Net Ionic Equation: A net ionic equation is an ionic equation with all DEFINE[spectator ions'>spectator ions eliminated. For example, Ag+(aq) + NO3-(aq) + Na+(aq) + Cl-(aq) = agcl(s) + Na+(aq) + NO3-(aq) is an . . . View Full Definition
Molecular Equation: A molecular equation is a balanced chemical equation in which ionic compounds are written as neutral formulas rather than as ions. For example, agno3(aq) + nacl(aq) = agcl(s) + nano3(aq) is . . . View Full Definition
Generally Accepted Accounting Principals (GAAP): The sum of taxes, charges, and miscellaneous income taken in at the state and local level while neglecting overlapping revenue which may be erroneously counted twice.
Equity Method Or Accounting For Investments In Stocks: Method used to account for an investments in the stock of another company when significant influence can be imposed (presumed to exist when 20 to 50 percent of the outstanding voting stock is owned).
Equation Of Time: Difference between mean and apparent time. From the beginning of the year until near the middle of April, mean time is ahead of apparent time, the difference reaching a maximum of about 15 . . . View Full Definition
Word of the Day:
Fragrance: The sensation of the gases released from ground coffee as they are inhaled through the nose. Ranges from sweetly floral to sweetly spicy.