What does adjusting entry mean?
Definitions for adjusting entry
ad·just·ing en·t·ry
This dictionary definitions page includes all the possible meanings, example usage and translations of the word adjusting entry.
Princeton's WordNet
adjusting entrynoun
an accounting entry made at the end of an accounting period to allocate items between accounting periods
Wikipedia
adjusting entry
In accounting/accountancy, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting. They are sometimes called Balance Day adjustments because they are made on balance day. Based on the matching principle of accrual accounting, revenues and associated costs are recognized in the same accounting period. However the actual cash may be received or paid at a different time.
ChatGPT
adjusting entry
An adjusting entry is a journal entry made in an accounting system at the end of an accounting period to record any unrecognized income or expenses for that period. These adjustments are necessary to ensure that the financial statements reflect the actual financial position of a business. This can include accruals, deferrals, estimates or period adjustments to ensure accurate and compliant financial reporting under the accrual accounting method.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of adjusting entry in Chaldean Numerology is: 9
Pythagorean Numerology
The numerical value of adjusting entry in Pythagorean Numerology is: 7
Translations for adjusting entry
From our Multilingual Translation Dictionary
- ورود تنظیمPersian
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"adjusting entry." Definitions.net. STANDS4 LLC, 2024. Web. 27 Apr. 2024. <https://www.definitions.net/definition/adjusting+entry>.
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