Method Of Accounting (Noun)
Meaning
A bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The bookkeeper used the method of accounting to record all financial transactions in a chronological order.
- The company's accountant reviewed the method of accounting to ensure accuracy and compliance with financial regulations.
- The method of accounting provided a clear picture of the company's financial position and performance over time.
- The bookkeeper used a ledger to record the method of accounting, which included a list of all debits and credits.
- The method of accounting was used to prepare the company's financial statements, including the balance sheet and income statement.