Term
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Definition
| Planning, recording, analying, and interpreting financial information. |
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Term
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Definition
| A planned process for providing financial information that will be useful to management. |
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Term
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Definition
| Organized summaries of a business's financial activities. |
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Term
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Definition
| A business that performs an activity for fee. |
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Term
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Definition
| A business owned by one person. |
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Term
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Definition
| Anything of vlue that is owned. |
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Term
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Definition
| Financial rights to the assets of a business. |
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Term
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Definition
| An amount owed by a business. |
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Term
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Definition
| The amount remaining after the value of all liabilities is subtracted from the value of assets. |
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Term
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Definition
| An equation showing the relationship among assets, liabilities, and owner's equity. |
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Term
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Definition
| A business activity that change assets, liabilities, or owner's equity. |
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Term
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Definition
| A record summarizing all the information pertaining to a single item in the accounting equation. |
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Term
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Definition
| The name given to an account. |
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Term
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Definition
| The amount in an account. |
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Term
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Definition
| The account used to summarize the owner's equity in a business. |
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Term
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Definition
| A financial statement that reports assets, liabilities, and owner's equity on a specific date. |
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Term
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Definition
| An increase in owner's equity resulting from the operation of a business. |
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Term
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Definition
| A sale for which cash will be received at a later date. |
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Term
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Definition
| A decrease in owner's equity resulting from the operation of a business. |
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Term
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Definition
| Assets taken out of a business for the owner's personal use. |
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Term
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Definition
| An accounting device used to analyze transactions. |
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Term
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Definition
| An amount recorded on the left side. |
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Term
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Definition
| An amount recorded on the right side. |
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Term
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Definition
| A list of accounts used by a business. |
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Term
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Definition
| A form for recording transactions in chronological order. |
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Term
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Definition
| Recording transactions in a journal. |
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Term
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Definition
| A journal amount column that is not headed with an account title. |
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Term
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Definition
| A journal amount column that is not headed with an account title. |
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Term
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Definition
| Information for each transaction recorded in a journal. |
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Term
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Definition
| The recording of debit and credit parts of a transaction. |
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Term
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Definition
| A business paper from which information is obtained for a journal entry. |
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Term
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Definition
| A form describing the goods or services sold, the quantity, and the price. |
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Term
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Definition
| An invoice used as a source document for recording a sale on account. |
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Term
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Definition
| A busuness from giving written acknowledgement for cash received. |
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Term
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Definition
| A form on which a brief message is written describing a transaction. |
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Term
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Definition
| Determining that the amount of cash agrees with the accounting records. |
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Term
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Definition
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Term
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Definition
| A ledger that contains all accounts needed to prepare financial statements. |
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Term
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Definition
| The number assigned to an account. |
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Term
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Definition
| The procedure for arranging account numbers, and keeping records current. |
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Term
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Definition
| Writing an account title and nmber on the heading of an account. |
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Term
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Definition
| Tranferring information from a journal entry to ledger account. |
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Term
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Definition
| A journal entry made to correct an error in the ledger. |
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Term
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Definition
| The side of the account that is increased. |
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Term
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Definition
| A business form ordering a bank to pay cash from a bank account. |
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