Toran Accounting Glossary

Accounting & Tax Terms Explained for Growing Businesses

Browse key accounting, tax, bookkeeping, and advisory terms explained in plain English.

Accounting
Tax
Advisory
Bookkeeping
Small Business Accounting
Startup Accounting
Tax Preparation
Tax Planning
Small Business Tax
Categories:
Real Estate Accounting
1031 Exchange, a tax-deferral strategy for real estate investors. Discover how it allows property owners to defer capital gains taxes by reinvesting in like-kind properties.
Accounting & Bookkeeping
Understand the importance of Accounts Payable (AP) in managing cash flow, vendor relationships, and accurate financial reporting for your business.
Accounting & Bookkeeping
Accounts Receivable (AR) plays a vital role in managing cash flow, reducing credit risk, and ensuring accurate financial reporting. Discover best practices for AR management.
Learn about ARR (Annual Recurring Revenue), a crucial metric for subscription-based businesses. Discover how ARR tracks predictable revenue and helps measure business growth and stability.
Startup & CFO
Burn Rate, a key financial metric for startups. Learn how it tracks the rate at which a company spends its capital and how it impacts cash flow management and sustainability.
Accounting & Bookkeeping
Chart of Accounts (COA) organizes financial data, aids in financial reporting, budgeting, and ensures compliance with accounting standards.
Construction Accounting
Job Costing is a critical accounting method used by businesses, especially in industries like construction, manufacturing, and other service-based sectors. It involves tracking and allocating all costs associated with a specific job or project to understand the financial health and profitability of each individual task or project
Construction Accounting
Understand what Retainage is in construction contracts, how it affects project payments, and its role in ensuring project completion and quality control.
Startup & CFO
Learn about Runway, a key metric for startups. Discover how it helps measure the time a company can operate before running out of cash and what it means for business sustainability.
Construction Accounting
Learn about Work in Progress (WIP), its role in accounting, and how it affects a company’s financial statements. Understand the WIP process and its impact on project management.

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