- Types:
- show 8 types...
- hide 8 types...
-
cost accounting
keeping account of the costs of items in production
-
bookkeeping, clerking
the activity of recording business transactions
-
inventory accounting
accounting that controls and evaluates inventory
-
costing
cost accounting
-
single entry, single-entry bookkeeping
a simple bookkeeping system; transactions are entered in only one account
-
double entry, double-entry bookkeeping
bookkeeper debits the transaction to one account and credits it to another
-
FIFO, first in first out
inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold
-
LIFO, last in first out
inventory accounting in which the most recently acquired items are assumed to be the first sold
