research and educational resources – noncurrent asset
common FC – CEO salary, hearing store, recep salary
Creditor – A person or business to whom a liability is owed
value-added costs – costs caused by value-added activities.
Ledger – The book that contains the entire group of accounts a business has
Accrual Adjustments – Needed when a company has earned revenue or incurred an expense in the current period but has not yet recorded it because the related cash will not be received or paid until a later period.
List two ways to improve your relationship with your instructor.
certified public accountant – public accountants who have met a states education, experience, and examination requirements
SEC – oversees the financial markets in america and have legal authority to establish accounting standards but delegate authority to the FASB
List twо wаys tо imprоve your relаtionship with your instructor.
Sales allowance – Customer keeps product but we give them a discount
credit – Decrease accounts receivable
Statement of Retained Earnings – Reports the way that net income and the distribution of dividends affected the financial position of the company during the accounting period.