Accounting Basics

4 articles
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What’s the difference between accounts payable and accounts receivable?

Learn the key differences between accounts payable and accounts receivable. Understand how AP and AR impact cash flow,...

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What’s the difference between a balance sheet and an income statement?

Learn the key differences between a balance sheet and income statement. Understand assets, liabilities, equity, revenue, and expenses...

What’s the difference between a financial statement and a financial ratio?

Learn the key differences between financial statements and financial ratios. Understand how balance sheets, income statements, and ratios...

What’s the difference between a ledger and a journal in accounting?

Learn the key differences between accounting journals and ledgers. Discover how journals record transactions chronologically while ledgers organize...