Accountingcentury 21

Free Cash Flow – Cash remaining from operating activities after adjusting for capital expenditures and dividends paid
permanent accounts – accounts used to accumulate information from one fiscal period to the next.
point – A balance sheet is at a Blank in time
Operating Leverage – how sensitive is Net operating income to changes in sales
Inventory Turnover – The number of times inventory is purchased and sold during the accounting period (inventory turnover = cost of goods sold + average inventory).
Business Entity – An individual, association, or organization that engages in economics activities and controls specific economic resources.
traceable FC – manager salary, maintenance for building, insurance
What type(s) of organisms does cellular respiration occur in?
Accounts receivable which are uncollectable are – Bad debits
days in inventory – 365 / inventory ratio
general journal – a journal with two columns in which all kinds of entries can be recorded
Bank Statement – A report of deposits, withdrawals, and bank balances sent to a depositor by a bank
no-par value stock – common stock that has not been assigned a par value
common stock outstanding – shares that are still out in the public
Whаt type(s) оf оrgаnisms dоes cellulаr respiration occur in?
North Funderal Home purchase burial garmets on account. The journal entry would be: – Credit Accounts payable/Debit Purchases – Burial Garments
Accounting – the occupation of maintaining and auditing records and preparing financial reports for a business
strategic – إستراتيجي
Describe the Fasb's Efforts to Construct a Conceptual Framework – The FASB issued seven Statements of Financial Accounting Concepts that relate to financial reporting for business enterprises.

These concept statements provide the basis for the conceptual framework.

They include objectives, qualitative characteristics, and elements.

In addition, measurement and recognition concepts are developed.

The FASB and the IASB are now working on a joint project to develop an improved common conceptual framework that provides a sound foundation for developing future accounting standards.

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