Accounts Receivable
Amounts owed to a business that the business expects to receive.

Double-Entry Accounting
A system of accounting that records each business transaction twice.

Bookkeeping
The task of recording the amount, date, and source of all business revenues and expenses. Bookkeeping is essentially the starting point of the accounting process. Only with accurate bookkeeping numbers can meaningful accounting be

Account
A collection of financial information grouped according to customer or purpose.

Adult Protective Services (APS
Adult Protective Services includes the 24-hour, 365 days a year access to assistance and/or referral with reports of physical, sexual or emotional abuse, neglect by caretaker, self-neglect, exploitation and abandonment.

Base Adjustment
Adjustments made to the initial base level budget to reflect total base level funding available to the agency. The list of acceptable base level technical and policy adjustments are included in the biennial budget instructions. Adjustments are generally made on a technical or policy basis. Examples of technical adjustments are one-time appropriations and program sunsets. Examples of policy adjustments are salary increases and space rental changes.

Net Income
Gross income less expenses; it represents a business's profit for a given year.

Accrual Method Of Accounting
Accounts for income and expenses in the 12-month period earned or incurred, which is not necessarily when it is received or paid.

Accrual Method Of Accounting
In the context of a financial audit, audit findings represent weaknesses or deficiencies in internal controls, or instances of noncompliance with applicable laws and regulations, that are presented in an audit report.

Statement
A formal written summary of outstanding invoices.