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encyclopediaThe practice or profession of maintaining financial records,
Buy Office 2010, noting expenses or revenue, and determining how much one owes or is owed. Accounting seeks to assure that every individual or company pays or is paid the correct amount. There are several different types of accounting,
Microsoft Office 2010 Home And Student, each of which reports revenue and earnings differently from other methods. Two major accounting methods are accrual accounting and cash accounting. Accrual accounting recognizes revenue and matches it with the expenses that generated that revenue. Cash accounting, on the other hand,
Office 2010 Professional Plus, recognizes revenue and expenses in the order in which they are received or spent.
Accounting is important in personal finance as well. One must maintain accurate records to ensure that enough money remains to pay one's bills. Likewise, accounting is necessary to pay personal or corporate taxes in the correct amount. See also: CPA, LIFO,
Microsoft Office Pro Plus 2007, FIFO.
Microsoft Office 2010 Home And Student Accounting
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