Service Company Definition – What is a Service Company?


Service company definition including break down of areas in the definition. Analyzing the definition of key term often provides more insight about concepts. The term service company can be defined as: Organization that provides services instead of tangible assets. Service company can be contrasted with a company that sell inventory, the primary function of a service company being non-tangible. Understanding whether a company is a service company or is not a service company is important because inventory adds different complexities to a business.
Why Learn Accounting – Financial Accounting / Managerial Accounting

101 Double Entry Accounting System Explained – Accounting Equation

101 Cash vs Accrual – Cash Method / Accrual method differenc

101 Revenue Recognition Principle

Double Entry Accounting System Explained – Balance Sheet

101 Income Statement Introduction

101 Accounting Objectives – Relevance Reliability Comparability

101 Transaction Rules – Accounting Equation

101 Transaction Throught Process / Steps – Accounting Equation

101 Owner Deposits Cash Transaction Accounting Equation

101 Work Completed for Cash Transaction Accounting Equation

100.110 Pay Employee with Cash Transaction Accounting Equati

200 Debits & Credits Normal Balance – Double Entry Accounting Sy

200 Debits & Credits – One Rule to Rule Them All


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