Adjusting entries – Journal entries recorded to update general ledger accounts at the end of a fiscal period.
obligación fiscal – tax liability
cumulative dividends – if not declared this year, the board may declare this year's dividends at some point in the future
provisión por gratificaciones – provision for bonuses
current liabilities – liabilities the company will pay off in the next fiscal year
Assets – Anything of value that is owned.
Cost Flow – Association of costs with their assumed flow in the operations of a company.
Liability corp. – Owned by a few stockholders
Men are more tactful than women when it comes to giving feedback because they temper criticism with praise.
When is revenue reported on the income statement? – Goods or services are provided to the customer.
cheque butt – a source document used to verify cash payments
Cost of Goods Manufactured (CGM) – =Total cost of current period's output
Operating Expenses/Overhead. – Expenses incurred in the normal operation of a business.
Insurance Policy – A contract between an insurance company and the party insured
Unqualified report – The auditors are confident with the financial statements
Men аre mоre tаctful thаn wоmen when it cоmes to giving feedback because they temper criticism with praise.
REALIZATION – earnings process is complete or cash recieved for work already done
computerized accounting system – a type of accounting
Timely – information is available to decision makers before loses influence
Liquidity – The ease with which an item can be converted into cash.
petty cash fund – a fund of currency and coin established for the payment of small amounts of money

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