T-account is an informal term for a set of financial records that use double entry bookkeeping.
It’s called a T-score because the accounting entries are arranged in a T-shaped form.
The account name is displayed just above the letter T. Below it, debits are listed on the left and credits are listed on the right, separated by a line.
The T-score tells accountants what to enter in the ledger to get a corrective balance so that income equals expenses.
Accountability is the acceptance of responsibility for one’s actions. This implies a willingness to be transparent, allowing others to observe and evaluate their work.
Accounting policies are the procedures a company uses to prepare financial statements. Unlike accounting principles, which are rules, accounting policies are the standard for following those rules.
Acquisition accounting is a set of formal guidelines describing how the acquirer should report the assets, liabilities, non-controlling interests and goodwill of the acquired company.
Performance Based Management (ABM) is a means of analyzing a company’s profitability by looking at every aspect of its business to determine its strengths and weaknesses.