Are you a small business owner? Do you have complicated financial issues that include an investment portfolio? If you do, you should hire an accountant. It is the wisest financial decision that you’ll ever make.

There are lots of common accounting terms that you may hear used on a frequent basis that you really don’t understand. Being people, we tend to not want to ask too many questions, so below, you can find some easy to understand definitions for common accounting terms.

If you’ve got considerable income, own your own small business or have multiple accounts and investments, it may be a good idea to hire an accountant. It’s a daunting task, keeping records of all of your financial affairs.