statement of cash flows – A statement intended to show how cash is generated and expended during a specific period of time.
sales invoice – a source document for recording a sale on account
b. – Know if a debit or credit increases or decrease the various accounts
Dividend – A distribution by a corporation to its stockholders on a pro rata (equal) basis.
Book Value – Purchasing Price for the Fixed Asset – Accumulated Depreciation
accounting – The information system that measures business activities, processes that information into reports and financial statements, and communicates the results to decision makers.
An internal service fund uses budgetary accounts? T/F – False
Big 4 – KPMG, PWC, Deliotte, Ernest & Young
Christina was not hired for the job when her potential employers found out she had three small children. This is an example of
accounting records – organized summaries of a business's financial activities.
interest revenue – money received for interest
depreciation – process of systematically allocating the original cost of plant/ equipment to expense over the periods benefited
non cash expense
non cash expense
common stock = [type] – equity
balance sheet comparative forms – record the balance sheet data for two or more comparable periods on the same form so that the information can be readily compared
Current liabilty – those items owing that are expected to be repaid in the coming year. Eg bank overdraft, accounts payable.
Account – A record summarizing all the information pertaining to a single item on the accounting equation
Christinа wаs nоt hired fоr the jоb when her potentiаl employers found out she had three small children. This is an example of
Differential cost – Difference in costs and benefits between alternatives
Items recorded that increase income when using the fair market value method are – dividends received
Financial Accounting Standards Board (FASB) – The private organization that oversees the creation and governance of accounting standards in the United States.