An accounts payable subsidiary ledger is a ledger that records all of a company's accounts payable transactions. Accounts payable is the amount of money a company owes to its suppliers for goods or services that have been received but have not yet been paid for.
The accounting equation is a mathematical formula that expresses the relationship between a company's assets, liabilities, and equity. The equation is stated as follows: Assets = Liabilities + Equity This equation means that a company's total assets are always equal to the sum of its liabilities and equity. This relationship is sometimes expressed as "assets minus liabilities equals equity."
The accounting cycle is the process of recording, classifying, analyzing, summarizing financial transactions, and recording the accounting transactions of a company. The cycle starts with the recognition of an event, which is then recorded in a journal. The journal entries are then posted to the ledger, which is used to prepare the financial statements. Finally, the financial statements are analyzed to identify any trends or problems. The accounting cycle is important because it ensures that financial statements are accurate and up-to-date. It also allows businesses to track their financial performance over time.
An accounting change refers to a change in the way an entity accounts for its financial transactions. An accounting change may be voluntary or involuntary. Voluntary accounting changes are initiated by the company itself, while involuntary accounting changes are those that are required by changes in accounting standards or regulations. Accounting changes can have a significant impact on a company's financial statements. For example, a change in accounting principle may result in a change in the reported amount of revenue or expenses. A change in an accounting estimate may result in a change in the reported value of assets …
API data refers to the data that is made available by an application programming interface. This data can be accessed by applications, tools, and services built using the API. The data made available through an API can include information about the API and data returned by the API in response to requests.