Revenue that identifies the amount a company earns from selling its products.

A liability account that results when a company receives cash from a customer for goods or services to be provided in the future.

The amount a company expect to receive when it sells goods or services.

The difference between the selling price of goods or services sold to customers during a period and the cost (to the company) of the goods or services sold.

A file in which each of a company’s accounts and the balance of those accounts are maintained. In the digital age, this is usually maintained within Quickbooks or other accounting software.

A chronological records of a company’s transactions.

the cost of material, labor, and other resources consumed directly in producing goods.

A contribution by owners to a business, along with any profits that are kept in the business.

Resources controlled by a business.

The claim of a creditor to a company’s resources.