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Definition
| planning, recording, and analyzing financial information |
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| a planned process for providing financial information that will be usefull to management |
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Definition
| organized summaries of a business's financial activities |
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| a business that performs an activity for a fee |
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Definition
| a business that is owned by a single person |
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Definition
| Financial reports that summaraize the financial condition and operations of a business |
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Definition
| anything of value that is owned |
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Definition
| financial rights to the assets of a business |
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| An amount owed by a business |
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Definition
| The amount remaining after the value of all liabilities are subtracted from assets. |
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Definition
| An equation showing the relationship among assets, liabilities, and owner's equity. |
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Definition
| The principles of right an wrong that guide an individual in making decisions |
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Definition
| the use of ethics in making business decisions |
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Definition
| a business activity that changes assets, liablities, or owner's equity. |
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Definition
| a record summarizing all the information pertaining to a single item in the accounting equation |
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Definition
| The name given to an account |
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Definition
| the account used to summarize the owner's equity in a business |
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Definition
| an increase in owner's equity |
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Definition
| a sale for which cash will be recieved at a later date |
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Definition
| a decrease in owner's equity resulting from the operation of a business |
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Definition
| assets taken out of the bussiness for the owner's personal use |
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Definition
| An accounting device used to analayze transactions |
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Definition
| The side of the account that is increased |
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Definition
| An amount recorded on the left side of the account |
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Definition
| an amount recorded on the right side of the account |
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Definition
| a list of accounts used by a business |
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