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FAQs About Accounting
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  Hot Topics
 

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


  > Bad Debt
Money owed for a business debt that cannot be collected
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  > Account
A collection of financial information grouped according to customer or purpose.
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  > 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.
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   Accountant Terms and Definitions

 

Receipt
A written record of a transaction.

Accounts Payable
Amounts that a business owes

Balance Sheet
A statement listing a business's assets, liabilities, and net worth, or equity.

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.

Audit
A systematic review or examination of the assertions or actions of a third party to evaluate conformance to some norm or benchmark.

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

Statement
A formal written summary of outstanding invoices.

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

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

Compliance Audits
Compliance audits are internal or external audits performed to evaluate whether systems or processes are designed and operating effectively to ensure compliance with pertinent laws, rules, regulations, and internal policies and procedures

Contact our Ohio Accountants


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

  • Alliance
  • Ashtabula
  • Barberton
  • Beachwood
  • Bowling Green
  • Brunswick
  • Canton
  • Chillicothe
  • Cincinnati
  • Cleveland
  • Columbus
  • Dayton
  • Delaware
  • Dublin
  • Eastlake
  • Elyria
  • Fairborn
  • Fairfield
  • Findlay
  • Grove City
  • Hamilton
  • Hilliard
  • Kent
  • Lakewood
  • Lancaster
  • Loveland
  • Marion
  • Mason
  • Massillon
  • Medina
  • Mentor
  • Middletown
  • Newark
  • Painesville
  • Reynoldsburg
  • Sandusky
  • Stow
  • Toledo
  • West Chester
  • Westerville
  • Wooster
  • Xenia
  • Youngstown
  • Zanesville
       
 
Did You Know?    
 
 
You want to hire an accountant that practices GAAP.
Generally accepted accounting principles (GAAP) are the accounting rules used to prepare financial statements for publicly traded companies and many private companies in the United States.

 
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Latest News
  Latest accountant news in Ohio and nationwide:

Jan 15, 2007 - Accounting Periods When Preparing A Statement Of Income
When preparing a statement of income and expenses (generally your income tax return), you must use your books and records ...
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Aug 22, 2005 - The Respondent Worked For
By the time the respondent was hired, Fleming had already commenced, without court authorization, to use receivership asse...
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Aug 22, 2005 - Accountant As Much As A $25 Million Bounty
The September 1, 1994 IRS raid came about as the result of a plot hatched by a former chief in-house accountant while he w...
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The information provided on Accountants Ohio.com is not intended to be accounting advice, but merely conveys general information related to accounting issues commonly encountered.

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