method of accounting Antonyms

No Synonyms and anytonyms found

Meaning of method of accounting

Wordnet

method of accounting (n)

a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts

method of accounting Sentence Examples

1. The exact word method involves recording transactions in the accounting records using the exact words or terms stated in the source documents.
2. This method ensures that the transactions are accurately and objectively represented in the financial statement.
3. The exact word method is often used for recording cash transactions, such as receipts and payments.
4. It is also commonly used for recording transactions that involve specific terms or conditions, such as contracts or warranties.
5. By using the exact word method, businesses can maintain a clear and concise record of their financial transactions.
6. The exact word method helps to prevent errors and omissions in the accounting records.
7. This method also simplifies the process of reconciling bank statements and other financial reports.
8. Businesses may choose to use the exact word method in conjunction with other accounting methods, such as the accrual method or cash basis method.
9. The exact word method is a reliable and efficient way to record and track financial transactions.
10. It is particularly beneficial for businesses that need to maintain a high level of accuracy and transparency in their financial reporting.

FAQs About the word method of accounting

What is the meaning of the word method of accounting

a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts

What are the synonyms of the word method of accounting

No synonyms found.

What are the antonyms of the word method of accounting

No antonyms found.

What is the usage of word method of accounting

The exact word method involves recording transactions in the accounting records using the exact words or terms stated in the source documents.

This method ensures that the transactions are accurately and objectively represented in the financial statement.

How to use the word method of accounting in a sentence?

The exact word method is often used for recording cash transactions, such as receipts and payments.

It is also commonly used for recording transactions that involve specific terms or conditions, such as contracts or warranties.