Bookkeeping

Refer to the resources owned and controlled by an entity and also known as properties or rights owned by the business.

• Assets
• Liabilities
• Revenues
• Expenses

Refer to economic benefits received from business activities; the amount earned in the conduct of business.

• Assets
• Liabilities
• Revenues
• Expenses

Refer to the costs incurred in the conducting business.

• Assets
• Liabilities
• Revenues
• Expenses

Refer to the economic obligations of a business entity.

• Assets
• Liabilities
• Revenues
• Expenses

It represents advanced payments from customers which requires settlement through delivery of goods or services in the future.

• Sales Revenue
• Service Revenue
• Unearned Revenue
• Accrued Revenue

Assets that are held for sale in the normal operations of the business.

• Inventories
• Accounts Receivable
• Furnitures and Fixtures
• Intangibles

Refer to the costs of compensation to employees for their services to the company.

• Taxes and Licenses
• Delivery Expense
• Training and Development
• Salaries and Wages

Refer to the water and electricity costs incurred in the conduct of business.

• Telecommunications Expense
• Utilities Expense
• Supplies Expense
• Repairs and Maintenance

Refers to indebtedness that arise from purchase of goods, materials, supplies or services and other transaction in the normal course of business operations.

• Accounts Payable
• Notes Payable
• Bonds Payable
• Loans Payable

The amount earned from leasing out commercial spaces such as office space, stalls, booths, apartments, condominiums, etc.

• Royalty Income
• Interest Income
• Rent Income
• Franchise Fee