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Letter P: Bookkeeping and Accounting Definitions

Accounting Definitions Starting with the Letter P

There are 100's of accounting definitions and bookkeeping terms here in my bookkeeping glossary.

Use this page as an accounting resource to help improve your bookkeeping knowledge of terms starting with the letter P.

Just pick a letter to go directly to the bookkeeping terms associated with that letter, or use the search engine below to search the entire website.

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ACCOUNTING DEFINITIONS STARTING WITH THE LETTER P

Partnership:

A company set up by two or more people who put money into the business and share the financial risks and profits.

Prepaid Expenses:

To pay in advance for goods or services.

Prepaid Income:

To receive income in advance for goods or services.

Price Earnings Ratio:

The ratio of a share's price to its earnings, which provides an indication of its value. Profit and Loss Statement:

It is also called a "P&L" and income statement. It shows a company's business revenue and expenses for a specific period of time.

Profit Plan:

A written plan on how to gain financial profit from something.

Proprietorship:

The owner of a commercial enterprise or establishment such as a store, hotel, or restaurant.

Purchases:

To buy something using money or its equivalent.

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