The 2016 Color of the Year is â CLARET! How does Claret fit in the Fiesta family of colors? Quite nicely, we must say. Check out the entire spectrum here: Ivory, Slate, Sage, Claret, Scarlet, Poppy, Tangerine, Sunflower, Lemongrass, Shamrock, Turquoise, Lapis, Cobalt, Paprika, and White. Claret is a high-fashion color that fills a void in the Fiesta spectrum.
The fundamental concept underlying present-day bookkeeping and accounting. Double entry accounting is based on the fact that every financial transaction has equal and opposite effects in at least two different accounts.
An entry in financial reporting that occurs at the end of a reporting period to record any unrecognized income or expenses for the period. When a transaction is started in one accounting period and finished in a later period, an adjusting journal entry is required to properly account for the transaction. Adjusting journal entries can also refer to financial reporting that corrects a mistake made previously in the accounting period.