Knowing basic accounting terms is a must for every business owner, whether the business is small or large. It always lands high if you want to turn your business into a thriving organtisation. Surely, you?ve experienced this nearly every time you called your accountant and were feeling more uncertain about your financial situation, didn?t you? That?s why you need to understand some key principles of accounting. We?ve compiled all the necessary terms in this blog, you should know. Let?s delve deeper and thoroughly understand each term with interesting examples!