Online Accounting Dictionary

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y
  • Equity is what the company "owes" to owners. Equity may be called Shareholders' Equity. It is calculated as the difference between assets and liabilities: Equity = Assets - Liabilities.
  • Expenses are decreases in assets or increases in liabilities that result from operating activities undertaken to generate revenue.
  • External users are parties outside the reporting entity (company) who are interested in the accounting information.
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y

Take Free
Accounting Tests

Benefits of registration
  • Utilize a diagnostic test
  • Access 250+ questions and solutions
  • Bookmark and re-visit important topics
  • Obtain certificate of completion
  • Read various accounting articles
  • Hide ads on all pages
Sign up for updates