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Accounts Payable (AP) is the money a business owes to its suppliers or vendors for goods and services received but not yet paid for. It is recorded as a liability on the company’s balance sheet. Managing accounts payable helps ensure timely payments and maintains good relationships with suppliers.

SAP software is a type of enterprise resource planning (ERP) software developed by the company SAP. It helps businesses manage various operations like finance, human resources, supply chain, and customer relations in one integrated system. SAP stands for "Systems, Applications, and Products in...

Revenue is the total income a business earns from selling goods or services before any expenses are deducted. It is often called sales or turnover and is a key measure of a company’s financial performance. For example, if a company sells 100 items at $10 each, its revenue is $1,000.

The specialist area of accounting known as "corporate accounting" is devoted to overseeing a business's financial operations. In order to guarantee accuracy, compliance, and to offer insights for strategic decision-making, it entails documenting, evaluating, and reporting financial transactions.

Yes, when the asset being depreciated is utilized in the company's primary business operations, depreciation is typically seen as an operating expense. Depreciation of equipment utilized in a manufacturing process, for instance, is usually categorized as an operational expense.