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Financial Accounting
ACG 2021
6
Accounting
Undergraduate 1
12/12/2011

Additional Accounting Flashcards

 


 

Cards

Term
Accounting
Definition

Information system that measures business activity, processes the data into reports, and communicates the results to decision makers.

 

Accounting is "the language of business."

Term
Financial accounting
Definition

Provides infromation for external decision makers, such as investors and lenders.


Financial accounting provides data for outsiders.

Term
Managerial accounting
Definition

Focuses on information for internal decision makers, such as the company's managers.


Managerial accounting provides data for insiders.

Term

Certified Public Accountants (CPA)

 

 

Definition
Licensed professional accoutants who serve the general public
Term
Certified Management Accoutants (CMA)
Definition
Certified professionals who work for a single company
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