Glossary
Accounts Payable
Definition Refers to a company’s outstanding obligations to suppliers or vendors for goods or services received but not yet paid for. It represents the amount a company can pay for items or services it has received but not yet paid for. Classified as a part
Accounting Software
Definition A computer program that automates and streamlines financial transactions and reporting for businesses and organizations while replacing manual bookkeeping methods—which can be time-consuming and prone to errors. These systems (accounting programs) reduce errors, save time, and provide real-time insights into financial performance. They range
Accounting Equation
Definition Also known as the “basic accounting equation” or the “balance sheet equation,” it is the fundamental of double-entry bookkeeping and a base principle in accounting. It states the relationship between a company’s assets, liabilities, and owner’s equity (or shareholders’ equity for corporations). In
Accelerator
Definition Accelerators are programs that aid early-stage startups in scaling for growth. These programs are structured to expedite growth within a fixed timeframe, typically lasting a few months. In exchange for equity, accelerators provide startups with resources, mentorship, and often seed funding, fostering rapid scaling
