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Accounting1 desse
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what is accounting?
PRAI
Planning
Record
Analysize
interpret finacial info
what is an accounting system
a planned process for providing finiacial info that will be usefil to mgt
acounting records
organized summaries of a business's finacial info activotes are called
what is a finacial statment
financial report that summarize the finical condition and operation of a business
service business
a performed activity for a fee
proprietor
a sole business owner
assets
own
equity
fin. rights to the business
liability
what u owe
owners equity
keep
accounting equation
assets = liability +owners equity
ethics
the right and wrong decisions u make
business ethics
ethics used in business
transcation
a business activity that alter the assets and liability and owners quity
account
record summari
account title
the name on the account
account balance
account in an balance in an account
capital
the account used to summarize the owners equity in a business
revenue
wht u make in a business
sale on account
a sale for which cash will be received at a later date
expense
wht ui spend (utilites etc)
withdrawal
the personal expence or for own use
Author
Anonymous
ID
33860
Card Set
Accounting1 desse
Description
\8th period accounting
Updated
2010-09-10T18:29:51Z
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