― Anyone whether working in an office or doing business must has to cross the word accounting. We have to pay and receive bills in any type of business. General Ledger, Balance sheets, bills of exchange, Assets and Liability are some of the important terms involved in accounting. Even you are running your own business or working as accountant you have to know the important term – Profit and Loss accounting. This profit or loss calculated by proper accounting only. ∙ Accounting [...].