Basics 7 min read
30 Basic Accounting Terms, Acronyms and Abbreviations Students Should Know
1. Accounts receivable (AR) Accounts receivable (AR) definition: The amount of money owed by customers or clients to a business after…
THE ARTICLE LIBRARY
All stories.
Ideas and explainers from across SenseCentral.
Basics 5 min read
Small Business Accounting and Bookkeeping Basics You Can’t Ignore
Bookkeeping is the primary task in every business organization, regardless of their size. Many small business entrepreneurs forget that the…
Basics 5 min read
What Options Do You Have for Accounting Services?
Okay, so you’re sold on the importance of accounting. Hooray! Next up, as a business owner you should be aware…
Basics 4 min read
Basic Accounting for Small Business
Accounting can be a daunting subject for a business owner, and if I’m being honest, more than a little boring.…
Basics 7 min read
Financial Accounting | Basic Concepts and Principles
Definition and introduction Profit, it has been said often, is the sole objective of business. Therefore, for those running a…
Basics 4 min read
Understanding Debits and Credits
As a small business owner, you may be struggling with the concept of what is debit (DR) and credit (CR).…
Basics 14 min read
10 Accounting Basics You Need to Know to Run a Successful E-commerce Business
1. Get yourself accounting software Don’t try to piece it all together using excel or a calculator. Do yourself a…
Basics 3 min read
Revenue Recognition Principle
So when do you recognize revenue in your reports, statements and forecasts? Let’s start with defining the revenue recognition principle,…
Basics 2 min read
Basic Accounting Data Collection And Recording Terms
Account: This is where you keep a detailed record of each asset, liability, revenue, or expense. An account will show the…
Basics 3 min read
What Is The Accounting Cycle?
The accounting cycle is a series of activities that compiles an organization’s transactions at the end of a reporting period…