Accepting responsibility for others is what accountability entails. Learn about accountability in business, government, and politics.

An accounting event is a transaction that is recorded in an accounting entity's financial statements, such as dividend payments and the sale of goods.

An accounting error is an unintentional error in an accounting entry that is corrected as soon as it is discovered.

The accounting rate of return (ARR) is a formula that calculates the expected net profit or return on an investment in relation to the initial cost.

An accounting period is a set period of time during which accounting functions are carried out and analyzed.

A revenue deficit occurs when a company's sales or government revenue are insufficient to cover its basic operating expenses.

A net loss occurs when expenses exceed income or total revenue for a given period of time, and is also known as a net operating loss (NOL).

Cycle billing is a bookkeeping strategy that entails billing customers on different days of the month, according to a schedule, rather than billing every customer on the same day.