ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Personal Finance»
  • Banks, S&L's, Credit Unions

Account Types

Updated on March 20, 2016

Account Assets: Represents the different economic resources which now owns. Such as cash, bank deposits, homes, warehouses, accounts receivable, ...
Current assets (account type 1).
Long-term assets (account type 2).
Account liabilities (liabilities - accounts type 3): Represents the different types of business debt. Such as accounts payable, borrowings, interest payable, ...
Equity accounts (account type 4): A representative of the owners of capital have helped business after deducting all debts in assets, including retained earnings and provision.
Revenue Account (account type 5): On behalf of the business revenues. For example, revenue, service revenue, interest received, ...
Account expenses (cost of production and business - account type 6): On behalf of the business expenses of business operations. Such as electricity, water, office rent, depreciation, interest, insurance, ...
Other income accounts (account type 7).
Other expense account (account type 8).
Determination of production and business results (account type 9).
Accounts outside tables (account type 0)
Account represents the financial transactions of a non-financial and enterprise, to determine investment results to investors.

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.