Financial Accounting Glossary

Reference: Financial Accounting – Concepts & Applications, 11e [2010]

Sample:

A

account An accounting record in which the results of transactions are accumulated; shows increases, decreases, and a balance.

accounting A system for providing quantitative, financial information about economic entities that is useful for making sound economic decisions. Accounting provides the means of recording and communicating business activities and the results of those activities.

accounting cycle The procedure for analyzing, recording, classifying, summarizing, and reporting the transactions of a business.

accounting equation An algebraic equation that expresses the relationship between assets (resources), liabilities (obligations), and owners’ equity (net assets, or the residual interest in a business after all liabilities have been met): Assets = Liabilities + Owners’ Equity.

accounting model The basic accounting assumptions, concepts, principles, and procedures that determine the manner of recording, measuring, and reporting a company’s transactions.

accounting system The procedures and processes used by a business to analyze transactions, handle routine bookkeeping tasks, and structure information so it can be used to evaluate the performance and health of the business.

accounts receivable A current asset representing money due for services performed or merchandise sold on credit.

Link

Gửi phản hồi

Mời bạn điền thông tin vào ô dưới đây hoặc kích vào một biểu tượng để đăng nhập:

WordPress.com Logo

Bạn đang bình luận bằng tài khoản WordPress.com Log Out / Thay đổi )

Twitter picture

Bạn đang bình luận bằng tài khoản Twitter Log Out / Thay đổi )

Facebook photo

Bạn đang bình luận bằng tài khoản Facebook Log Out / Thay đổi )

Google+ photo

Bạn đang bình luận bằng tài khoản Google+ Log Out / Thay đổi )

Connecting to %s