Term
|
Definition
| a comprehensive system for collecting analyzing and communicating financial information |
|
|
Term
|
Definition
| the recording of transactions |
|
|
Term
| users of accounting information |
|
Definition
| business managers, employees and unions, investors and creditors, tax authorities, government regulatory agencies |
|
|
Term
|
Definition
| assist in the investigation of business and financial issues that may have application to a court of law |
|
|
Term
|
Definition
| identifying financial evidence that may be pertinent, analyzing financial evidence, presenting accounting conclusions and their legal implications |
|
|
Term
|
Definition
| certified fraud examiner: a specialty area within forensic accounting |
|
|
Term
|
Definition
| manages all of a firm's accounting activities |
|
|
Term
|
Definition
| concerned with external information users- the firm's external stakeholders; prepares income statements, balanca sheets, and other financial reports published for shareholders and the public |
|
|
Term
|
Definition
| serves internal users by providing information to make departmental decisions, monitor projects, and plan future activities |
|
|
Term
| Certified Public accountants (CPAs) |
|
Definition
| liscensed, offering services to the public, auditing, tax services, management advisory services |
|
|
Term
| Sarbanes-Oxley Act of 2002 |
|
Definition
| enacted to restore public trust in corporate accounting practices as a direct response to corporate financial abuses; restricts non audit services that CPAs can provide |
|
|
Term
|
Definition
| any economic resource that is expected to benefit a firm or an individual who owns it |
|
|
Term
|
Definition
| any economic resource that is expected to benefit a firm or an individual who owns it |
|
|
Term
|
Definition
| a debt that the firm owes to an outside party |
|
|
Term
|
Definition
| money that owners would receive if they sold all of a company's assets and paid all its liabilities |
|
|
Term
|
Definition
| the funds that flow into a business from the sale of goods or services |
|
|
Term
|
Definition
| shows the costs of obtaining the revenues form other companies during the year |
|
|
Term
|
Definition
| costs of obtaining materials to make products sold during the year |
|
|
Term
|
Definition
| considers revenues and cost of revenues from the income statement |
|
|
Term
|
Definition
| resources that must flow out of a company if it is to earn revenues |
|
|
Term
|
Definition
|
|
Term
|
Definition
| describes yearly cash receipts and cash payments |
|
|
Term
| cash flows from operations |
|
Definition
| concerns main operating activities: cash transactions involved in buying and selling goods and services |
|
|
Term
| cash flows from investing |
|
Definition
| net cash used in or provided by investing |
|
|
Term
| cash flows from financing |
|
Definition
| net cash from all financing activities |
|
|
Term
|
Definition
| a detailed report on estimated receipts and expenditures for a future period of time |
|
|
Term
|
Definition
| formal recording and reporting of revenues at the appropriate time |
|
|
