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Acronyms that contain the term adjusting entries
What does adjusting entries mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: adjusting entries.
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What does adjusting entries mean?
- Adjusting entries
- In accounting/accountancy, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting. They are sometimes called Balance Day adjustments because they are made on balance day. Based on the matching principle of accrual accounting, revenues and associated costs are recognized in the same accounting period. However the actual cash may be received or paid at a different time.
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"adjusting entries." Abbreviations.com. STANDS4 LLC, 2024. Web. 2 May 2024. <https://www.abbreviations.com/adjusting%20entries>.
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