AccountantsChicago.com  
  The help you need... When you need it most
  HOME ABOUT US FAQ RESOURCE CENTER CONTACT US FINANCIAL REVIEW February 27, 2010
Accountant
             
 
Please enter your information below to receive a Free Consultation from a financial advisor in your area:
 
Zip Code:   
Accountant Resources
  Search Accountant resources in our resource center:

FAQs About Accounting
Accountant Related Terms
Facts About CPA & Accounting
More Resources >

.......................................................
  Hot Topics
 

Corporate Accounting
Investments Tracking
Taxes
Balance Statement
Financial Reporting
Annual Reports
Payroll Records
Auditing
Asset Protection
More Accountant Topics >

Accountant Terms


  > Statement
A formal written summary of outstanding invoices.
.......................................................
  > Receipt
A written record of a transaction.
.......................................................
  > Bad Debt
Money owed for a business debt that cannot be collected
.......................................................
 
   Accountant Terms and Definitions

 

Receipt
A written record of a transaction.

Invoice
A written record of a transaction, often submitted to a customer or client when requesting payment.

Adult Protective Services (APS
Adult Protective Services includes the 24-hour, 365 days a year access to assistance and/or referral with reports of physical, sexual or emotional abuse, neglect by caretaker, self-neglect, exploitation and abandonment.

Bookkeeping
The task of recording the amount, date, and source of all business revenues and expenses. Bookkeeping is essentially the starting point of the accounting process. Only with accurate bookkeeping numbers can meaningful accounting be

Account
A collection of financial information grouped according to customer or purpose.

Accounting
term that refers to the overall process of tracking your business's income and expenses, and then using these numbers in various calculations and formulas to answer specific questions about the financial and tax status of the business.

Statement
A formal written summary of outstanding invoices.

Double-Entry Accounting
A system of accounting that records each business transaction twice.

Accounts Receivable
Amounts owed to a business that the business expects to receive.

Accrual Method Of Accounting
In the context of a financial audit, audit findings represent weaknesses or deficiencies in internal controls, or instances of noncompliance with applicable laws and regulations, that are presented in an audit report.

Contact our Chicago Accountants


If you live in the following cities and need an accountant, you should contact our Chicago Accountants as soon as possible:

  • Arlington Heights
  • Aurora
  • Bartlett
  • Berwyn
  • Bolingbrook
  • Buffalo Grove
  • Carol Stream
  • Chicago
  • Chicago Heights
  • Cicero
  • Des Plaines
  • Elgin
  • Glenview
  • Granite City
  • Harvey
  • Joliet
  • Lockport
  • Lombard
  • Mchenry
  • Moline
  • Mount Prospect
  • Normal
  • Oak Lawn
  • Palatine
  • Plainfield
  • Tinley Park
  • Waukegan
  • Wheaton
       
 
Did You Know?    
 
 
You may want to hire one of the top accounting firms.
Some of the top accounting firms include KPMG/Peat Marwick, Ernst and Young, Arthur Andersen and Price WaterhouseCoopers amoung others.

 
Search Site:
 
 
Latest News
  Latest accountant news in Chicago and nationwide:

Jul 14, 2006 - F.E.R.C, Strengthens Customer Protection, Facilitates Investment In Electricity Industry
The Federal Energy Regulatory Commission today harmonized provisions of two key Energy Policy Act of 2005 rulemakings addr...
Read more >


Jan 19, 2006 - Texas CPA Exam, Grad Gets Top National CPA Score
Austin, Texas – A May 2002 PPA program graduate of the McCombs School of Business at the University of Texas at Austin has...
Read more >


More Accountant News >

 
Newsletter Sign Up
   
.......................................................


Legal Disclaimers
The information provided on Accountants Chicago.com is not intended to be accounting advice, but merely conveys general information related to accounting issues commonly encountered.

Local Professional? Generate new business today
Call 866-227-9356 or contact a sales rep


This site is part of the LawFirms.com Network
©2010 ExpertHub, wholly owned subsidiary of MoxyMedia, Inc.