If we focus on the first meaning mentioned by the dictionary of the Royal Spanish Academy (RAE), we will see that item It is an adjective that refers to something reddish . In Latin America , however, the term refers to a category or a Title : the item, in this sense, is a set of entities with certain characteristics in common. Accountant , for its part, is that linked to the accounting (the technique or tool that allows to record the financial or economic movements).
A accounting item therefore it is the pulled apart which enables group different accounts . In this way, a balance sheet or a budget can be divided into different items according to the categories that you want to include.
To understand how an accounting item works, we must know that accounts In this context, they are the record of the changes that a capital experiences. The grouping of accounts in a book, therefore, is developed in items (accounting items).
Thus, in a given book you can include accounting items such as "Advance taxes", "Taxes to pay", "Box" and "Equipment", to cite some possibilities.
The idea of accounting item can also mention the sector of the accounting usually. A company or a professional in the accounting field, in this sense, develops a job linked to accounting as an economic activity: “Accounting company seeks accountant between 25 and 40 years to perform audits”, “We are a study with more than a decade of experience in the accounting field”, "Do not worry, I have extensive experience in the accounting field and I have already dealt with this type of issues".
Asset accounting items
Through the accounts of the Asset, the possessions and rights that correspond to a given company are represented. All these accounts go through a decrease when payments and credits appear, as well as a decrease as a result of debits and charges. A very particular feature of the Asset is that its accounts always have a balance debtor or are settled, which means that Your debit and credit are the same . Let's see some of the Assets items below:
* Current Assets : availabilities (receivables, bank, foreign currency, cash), investments (public securities, fixed term), credits (documents receivable, debtors for sale, debtors in judicial management, tax advance, delinquent debtors, VAT tax credit, insurance paid in advance), goods exchange (raw material, merchandise, finished products, products in process, advance to suppliers);
* Non-current assets : investments (rental property), fixed assets (real estate, vehicles, computer equipment, furniture and supplies, machinery, facilities);
* Intangible asset : copyright, franchises, concessions and registered trademarks.
Accounting items of Liabilities
Here are reflected the debts and obligations that a certain company has, both with its owners and with third parties. These are the accounts that end up financing the assets; In addition, they increase when debited or charged, and decrease when paid. Similar to those of the Asset, they have a credit balance or are settled. Listed below are some of the accounting items of the Liabilities, with a large number of the most common accounts that comprise them:
* Current liabilities : accounts payable (suppliers, documents payable, creditors), loans (mortgage payable, advances in current account), salaries and social charges (social charges payable, salaries payable), tax charges (VAT tax debit, taxes to be paid), dividends to be paid, advance payment of clients, other liabilities (services payable, interest charged in advance, rentals collected in advance), provision for layoffs;
* Long term liabilities : bank loans that exceed one year term, mortgages;
* Heritage : loss of exercise, capital , capital appreciation, profit retention.