Term
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Definition
| summarizes the financial position of a company at a specific point in time |
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Term
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Definition
| provides information about cash receipts and cash payments |
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Term
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Definition
| reports revenues and expenses resulting in net income or loss for a period of time |
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Term
| Basic Accounting Equation |
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Definition
| Assets=Liabilities + Stockholders' Equity |
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Term
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Definition
| communicates financial information about a business enterprise to both internal and external users |
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Term
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Definition
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Term
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Definition
| purchasing resources that a company needs in order to operate |
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Term
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Definition
| measure the operating success of a company for a given period of time |
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Term
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Definition
| measure the net income earned on each share of common stock |
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Term
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Definition
| ability to pay obligations expected to become due within the next year or operating cycle |
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Term
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Definition
| the difference between the amounts of current assets and current liabilities |
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