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Ledger
A comprehensive collection of a company's financial accounts, where transactions are recorded using a double-entry bookkeeping system.
Accrual Basis Accounting
An accounting method where revenues and expenses are recorded when earned or incurred, regardless of when the cash transactions occur.
Statement of Retained Earnings
A financial statement that shows the changes in a company's retained earnings over a specific period.
Net Income
The remaining profit of a company post deduction of all expenses, taxes, and costs from its total revenues.
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