Accounting Terminology

Required minimum ROI – Required Income/Average operating assets
Ledger – Record containing all accounts (with amounts) for a business also called a general ledger.
begining of period – dönem başı
expenses – assets used up or services consumed in the process of generating revenues
Statement of cash flows – A summary of the cash receipts and cash payments for a specific period of time
multiple-step income statement – an income statement that provides the reader with classifications of revenues and expenses as well as with important subtotals
fair value – An assessment based on current worth.
accounting equation – A = L + OE
assets=liabilities+owener's equity
"Operating Return on Assets" Classify, Calculate, and Interpret – Operating Profitability Ratio

= [ Operating Income(EBIT) / Average Total Assets ]

This measure includes both TAXES and INTEREST

Salvage value – The estimated value of a fixed asset at the end of its useful life.
_________ are the source of antibody-producing cells.
Liabilities – Debts that are owed to creditors
Correcting entry – a journal entry made to correct an error in the ledger
_________ аre the sоurce оf аntibоdy-producing cells.
Accounting – a system that collects and processes (analyzes, measures and records) financial information about an organization and reports that information to decision makers (internal and external decision makers use these reports)
What type of fund is a debt service fund? – Governmental fund
the difference between assets and liabilities – equity
support departments – units within an organization that provide
essential support services for producing departments.
Journalizing – Process of recording transactions in a journal

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