In bookkeeping and accounting, liabilities represent financial obligations or debts that a business or individual owes to external parties. These obligations arise from past transactions or events, and they require

In bookkeeping and accounting, a ledger is a principal accounting record that provides a detailed, organized, and permanent account of all financial transactions for a business or organization. The ledger

In bookkeeping and accounting, a journal entry is a record of a financial transaction that is entered into a company’s accounting system. Journal entries are the foundation of the double-entry

In bookkeeping and accounting, an invoice is a formal and itemized document issued by a seller (usually a business) to a buyer (customer or client) for goods sold or services

In bookkeeping and accounting, intangible assets refer to non-physical assets that have value to a business but lack a physical presence. These assets are long-term in nature and are used

In bookkeeping and accounting, indirect costs, also known as overhead costs or indirect expenses, refer to expenses that cannot be directly traced to a specific product, project, department, or cost