Examlex
Explain the concept of discretionary access privileges.
Adjusting Entries
At the close of a financial period, journal entries are created to distribute earnings and costs to the period in which they genuinely took place.
Adjusted Trial Balance
is a listing of all company accounts that will appear on the financial statements after making end-of-period adjustments.
Reversing Entry
An accounting entry made at the beginning of an accounting period to reverse or cancel out a previous adjusting entry.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.
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