6. Net Identifiable Assets
Net identifiable assets in economics refer to the value of a company’s physical assets, such...
7. Consolidation Worksheet
Consolidation worksheet is a tool used in accounting and finance to combine the financial statements...
8. Consolidation Net Income
Consolidation net income is a financial metric that represents the combined net income of a...
1. Accounting Cycle
The accounting cycle is the process of recording, classifying, and summarizing financial transactions to provide...
2. Journal Entries
Journal entries are the first step in the accounting cycle and are used to record...
3. Ledger Accounts
A ledger account is a record of financial transactions that relate to a specific asset,...
5. Adjusted Trial
An adjusted trial balance is a financial statement that lists the balances of all the...
6. Unadjusted Trial Balance
An unadjusted trial balance is a financial statement that lists the balances of all the...
7. Adjusting Entries
Adjusting entries are entries made in the accounting records at the end of an accounting...
8. Closing Entries
Closing entries, also known as closing the books, are journal entries made at the end...