Talking Cents

Accounting terms our small business accountant in Melbourne thinks every business owner should know

As a small business owner you should be aware of the certain terms that may affect you. Be sure to read on as our small business accountant in Melbourne will list out the facts that you need to know.

If you are looking for more information on the below terms, do feel free to search through our past articles or you can search online for an explanation. Here are some of the most important accounting terms to know of, according to our small business accountant in Melbourne’s CBD:

• Cost of goods sold
• Gross profit margin
• Operating profit margin
• Accounts payable
• Accounts receivable
• Assets
• Liabilities
• Inventory
• Invoices
• Liquidation
• Profit and loss statement

While there are many more accounting terms for you to be aware of, we think they are some of the most crucial. We hope that our business accountants in Melbourne have provided you with some insight as to what you should know.

As always, feel free to get in contact with our small business accountants in Sydney if you have any questions.