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Which usually requires a team of representatives from many stakeholder groups?
Accounts
Financial records that track the transactions and balances for specific items such as assets, liabilities, equity, revenue, and expenses.
Debit
An accounting entry that results in either an increase in assets or a decrease in liabilities or equity on a company's balance sheet.
Credit
An accounting entry that increases a liability or equity account, or decreases an asset or expense account. It is also used in banking to denote the addition of funds to an account.
Credit Side
The right side of an accounting ledger, used for recording increases in liabilities, equity, and revenue, and decreases in assets and expenses.
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