Business Finance Terms, Explained Simply.
Learn more about common financial terms here.
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Catch-up bookkeeping is the process of reconstructing and bringing financial records fully up to date after they have fallen significantly....
Cash accounting records transactions when money changes hands; accrual accounting records them when they are earned or incurred, and the....
The cash flow statement tracks how cash actually moved in and out of a business during a period and explains....
Bookkeeping is the disciplined, ongoing recording of every financial transaction in a business. It is the foundation that accurate reporting,....
The balance sheet is the financial statement that shows what a business owns, what it owes, and what is left....
Accounts receivable is the total customers owe for work already completed or products already delivered. Essentially, it is revenue earned....
Accounts payable is the total a business currently owes to suppliers and vendors for goods or services already received but....
ASPE is the CRA-recognized accounting framework that governs how private Canadian corporations measure, record, and present their financial results. Every....
Accounting transforms raw financial records into the information that runs a business: performance, position, and trends that bookkeeping alone cannot....