Uil Accounting

Gains – Are increases in assets or decreases in liabilities from peripheral transactions.
debit – Decrease owner's equity
Direct Labor – integral part of finished product, touched labor
The stable-monetary-unit concept of accounting: – enables accountants to ignore the effect of inflation in the accounting records.
The difference between assets and liabilities – Equity
Npv – Of future cash flows, considers the cash flows, the risk, the time value of money and shows if company is gaining value
Maltose, a sugar made by yeast, is composed of two glucose molecules joined by a type of covalent bond called a glycosidic linkage. How is maltose classified?
Current Assets – Economic resources to be used or turned into cash within one year.
accrued revenues – we received cash after we earned the revenue and recorded an asset.
accounting equation – The most basic tool of accounting: Assets = Liabilities + Owner's Equity.
Liability account – Accounts payable is a
Mаltоse, а sugаr made by yeast, is cоmpоsed of two glucose molecules joined by a type of covalent bond called a glycosidic linkage. How is maltose classified?
Withdrawals – Assets taken out of a business for personal use.
statement of owners equity – a summary of the changes in owners equity that have occurred during a specific period of time, such as a month or a year
36.Reinsurance Company – is the insurance company that issues an insurance policy and guarantees the obligations of the insurance company.
primary users of financial information – internal users: finance, management, marketing, human resources
external users: taxing authorities, labor unions, customers, creditors, investors, regulatory agencies
Current Liabilities – Debts or obligations due within one year

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply