Term
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Definition
| planning, recording, analyzing, 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
financial reports that summarize the financial condition and
operations of a business |
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Term
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Definition
| anything of value 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 all 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 changes 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
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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
| 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
| the recording of debit and credit parts of a transaction |
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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 with two amount columns in which all kinds of entries can be
recorded |
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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
a business paper from which information is obtained for a journal
entry |
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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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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 business form 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
| the principles of right and wrong that guide an individual in making decisions |
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Term
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Definition
| the use of ethics in making business decisions |
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Term
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Definition
a statement that guides the ethical behavior of a company and its
employees |
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Term
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Definition
| Learning skills desired for the marketplace |
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Term
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Definition
| Skills directly related to employment |
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Term
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Definition
| Personal qualities such as responsibility, integrity, and character |
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