Glossary

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turnover

Subject: 

  • Accounting

total amount of money a business makes over a certain period

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fixed instalment method
Subject:
Accounting

method for calculating depreciation whereby a fixed amount or percentage of the cost price is...

liable
Subject:
Accounting

being legally responsible for a debt or obligation

petty cash box
Subject:
Accounting

lockable box for businesses to keep petty cash in.

closing transfer
Subject:
Accounting

General Journal entry to close off nominal accounts for the accounting period.

cheque
Subject:
Accounting

written order to a bank to pay a stated sum from the drawer's account.