Bus 10 CH 18

THE RECORDING, CLASSIFYING, SUMMARIZING AND INTERPRETING OF FINANCIAL EVENTS AND TRANSACTIONS TO PROVIDE MANAGEMENT AND OTHER INTERESTED PARTIES THE INFORMATION THEY NEED TO MAKE A GOOD DECISIONS

ACCOUNTING USED TO PROVIDE INFORMATION AND ANALYSES TO MANAGER WITHIN THE ORGANIZATION TO ASSIST THEM IN DECISION MAKING

A PROFESSIONAL ACCOUNTANT WHO HAS MET CERTAIN EDUCATIONAL AND EXPERIENCE REQUAREMENTS, PASS A QUALIFYING EXAM IN THE FIELD AND BEEN CERTIFIED BY THE INSTITUTE OF CERTIFIED MANAGEMENT ACCOUNTANTS

ACCOUNTING INFO AND ANALYSES PREPARED FOR PEOPLE OUTSIDE THE ORGANIZATION

A YEARLY STATEMENT OF THE FINANCIAL CONDITION, PROGRESS, AND EXPECTATIONS OF AN ORGANIZATION

ACCOUNTANTS WHO WORK FOR A SINGLE FIRM, GOVERNMENT AGENCY OR NONPROFIT ORGANIZATION

AN ACCOUNTANT WHO PROVIDES HIS OR HER ACCOUNTING SERVICES TO INDIVIDUALS OR BUSINESSES ON A FEE BASIS

AN ACCOUNTANT WHO PASSES A SERIES OF EXAMINATIONS ESTABLISHED BY THE AMERICAN INSTITUTE OF CERIFIED PUBLIC ACCOUNTANTS

THE JOB OF REVIEWING AND EVALUATING THE RECORDS USED TO PREPARE A COMPANY'S FINANCIAL STATEMENTS

AN EVALUATION AND UNBIASED OPINION ABOUT THE ACCURACY OF A COMPANY'S FINANCIAL STATEMENTS

AN ACCOUNTANT WHO HAS A BACHELOR'S DEGREE AND TWO YEARS OF EXPERIENCE IN INTERNAL AUDITING AND WHO HAS PASS AN EXAM

AN ACCOUNTANT TRAINED IN TAX LAW AND RESPONSIBLE FOR PREPARING TAX RETURNS OR DEVELOPING TAX STRATEGIES

ACCOUNTING SYSTEM FOR ORGANIZATION WHO PURPOSE IS NOT GENERATING A PROFIT BUT SERVING RATEPAYERS,TAXPAYERS, AND OTHER ACCORDING TO A DULY APPROVED BUDGET

THE RECORDING OF BUSINESS TRANSCACTIONS

THE RECORDING BOOK OR COMPUTER PROGRAM WHERE ACCOUNTING DATA ARE FIRST ENTERED

THE CONCEPT OF WRITING EVERY BUSINESS TRANSACTION IN TWO PLACES

A SPECIALIZED ACCOUNTING BOOK OR COMPUTER PRGRAM IN WHICH INFO FROM ACCOUNTING JOUNALS IS ACCUMULATED INTO SPECIFIC CATEGORIES AND POSTED SO THAT MANAGERS CAN FIND ALL THE INFO ABOUT ONE ACCOUNT IN THE SAME PLACE

A SIX STEP PROCEDURE THAT RESULT IN THE PREPARATION AND ANALYSIS OF THE MAJOR FINANCIAL STATEMENTS

A SUMMARY OF ALL THE DATA IN THE ACCOUNT LEDGERS TO SHOW WHETHER THE FIGURES TO SHOW WHETHER THE FIGURES ARE CORRECT AND BALANCED

A SUMMARY OF ALL THE TRANSACTION THAT HAVE OCCURRED OVER A PARTICULAR PERIOD

ASSETS=LIABILITIES + OWNERS EQUITY; FOR BALANCE SHEET

THE FINANCIAL STATEMENT THAT REPORTS A FIRM'S FINANCIAL CONDITION AT A SPECIFIC TIME

ECONOMIC RESOURCES OWNED BY A FIRM

HOW FAST AN ASSET CAN BE CONVERTED INTO CASH

ITEMS THAT CAN OR WILL BE CONVERTED INTO CASH WITHIN ONE YEAR

ASSETS THAT ARE RELATIVELY PERMANENT, SUCH AS LAND,BUILDINGS AND EQUIPMENT

LONG TERM ASSETS THAT HAVE NO REALL PHYSICAL FORM BUT DO HAVE VALUE EX: COPYRIGHTS, TRADEMARK,PATENTS

WHAT A BUSINESS OWES TO OTHERS (DEBTS)

THE AMOUNT OF THE BUSINESS THAT BELONGS TO THE OWNERS MINUS ANY LIABILTIES OWED BY THE BUSINESS

THE ACCUMULATED EARNING FROM A FIRM'S PROFITABLE OPERATION THAT WERE KEPTI IN THE BUSINESS AND NOT PAIDED OUT TO STOCKHOLDERS IN DIVIDENDS

THE FINANCIAL STATEMENT THAT SHOWS A FIRM PROFIT AFTER COST, EXPENSES AND TAXTES

REVENUE LEFT OVER AFTER ALL COSTS AND EXPENSES, INCLUDING TAXES, ARE PAIDED

THE VALUE OF WHAT IS RECEIVED FOR GOODS SOLD, SERVICES RENDERED AND OTHER FINANCIAL SOURCES

THE MEASURE OF THE COST OF MERCHANDISE SOLD OR COST OF RAW MATERIAL AND SUPPLIES USED FOR PRODUCING ITEMS FOR RESALE

HOW MUCH A FIRM EARNED BY BUYING (OR MAKING) AND SELLING MARCHANDISES

COSTS INVOLVED IN OPERATING A BUSINESS, SUCH AS RENT, UTILITIES, AND SALARIES

FINANCIAL STATEMENT THAT REPORTS CASH RECEIPTS AND DISBURSEMENTS RELATED TO A FIRM'S THREE MAJOR ACTIVITIES; OPERATIONS, INVESTMENTS AND FINANCING

THE DIFFERENCE BETWEEN CASH COMING IN AND CASH GOING OUT OF A BUSINESS

THE SYSTEMATIC WRITE-OFF OF THE COST OF A TRANGIBLE ASSET OVER ITS ESTIMATED USEFUL LIFE

AN ACCOUNTING METHOD FOR CALCULATING COST OF INVENTORY; IT ASUSUMERS THAT THE FIRST GOODS TO COME IN ARE THE FIRST TO GO OUT

AN ACCOUNTING METHOD FOR CALCULATING COST OF INVENTORY; IT ASSUMES THAT THE LAST GOODS TO COME IN ARE THE FIRST TO GO OUT

THE SSESSMENT OF A FIRM'S FINANCIAL CONDITION AND PERFORMANCE THROUGH CALCULATIONS AND INTERPRETATIONS OF FINANCIAL RATIO DEVELOPED FROM THE FIRM'S FINANCIAL STATEMENTS

CURRENT ASSETS / CURRENT LIABILITIES

CASH + ACCOUNTS RECEIVABLE + MARKETING SECURITIES / CURRENT LIABILITIES

TOTAL LIABILITIES / OWNERS EQUITY

NET INCOME AFTER TAXES / NUMBER OF COMMON STOCK SHARES OUTSTANDING

NET INCOME / NET SALES

NET INCOME AFTER TAX / TOTAL OWNERS' EQUITY

COST OF GOODS SOLD/ AVERAGE INVENTORY