Revenue is money received by a company or other organization. For companies, most revenue comes from selling products or services to individuals or other companies. It is also possible for companies to earn revenue through financial investments.
For accounts to identify a company’s revenue over a given period might seem, at first glance, a simple matter. [...]

A current liability is the opposite of a current asset. It is a financial obligation which a company is expected to have to discharge within a short period of time, sometimes formally defined as one year or the current financial year. Liabilities are anything for which the company will have to pay out money. The [...]

A current asset is a highly liquid asset which is expected to be used up within a short period time. Examples of current assets include cash, inventories of goods, accounts receivable ( in other words, invoices which have been issued for prior delivery of goods or services and are expected to be paid soon), and [...]

A cash flow statement is an accounting document which shows the amount of cash held by a company over a defined period of time. It records the various transactions the company engaged in and how they affected its cash reserves. The cash flow statement may also record the level of other assets which are deemed [...]

Book-keeping is the practice of maintaining a careful record of all of a person or organisation’s income and expenditures. In modern times, book-keeping is often regarded as essential so that a person or organisation can discharge tax obligations to the government fully and properly. Book-keeping is less complex than accounting but proper book-keeping is an [...]