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accounting department

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

Part of a company’s administration that is responsible for preparing the financial statements,
maintaining the general ledger, paying bills, billing customers, payroll, cost accounting, financial
analysis, and more. The head of the accounting department often has the title of controller.

Dictionary

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  • Debits and Credits
  • Adjusting Entries
  • Financial Statements
  • Balance Sheet
  • Income Statement
  • Cash Flow Statement
  • Working Capital and Liquidity
  • Financial Ratios
  • Bank Reconciliation
  • Accounts Receivable and Bad Debts Expense
  • Accounts Payable
  • Inventory and Cost of Goods Sold
  • Depreciation
  • Payroll Accounting
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

Learn More About Harold

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