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Related Flashcards
Related Topics
Cards In This Set
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Accountable
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To be responsible or answerable
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Accountant
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A person whose profession is accounting
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Accounting
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The system of organizing, maintaining, and auditing the financial records of a company or an individual
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Accounting Equation
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A fundamental balance sheet equation, such as liabilities + net worth = assets
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Accounts Payable
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A record that shows how much a company owes suppliers for the purchase of goods or services on credit
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Accounts Receivable
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A record that shows how much is owed to a company by customers who have purchased goods or services on credit
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Accredit
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To certify as meeting all requirements
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Accrual Basis
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A commonly used accounting method, that reports income when earned and expenses when incurred
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Accrue
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To be added as a periodic gain
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Accrued Expenses
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An expense that has been incurred but not yet paid for in a particular accounting period
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Accrued Income
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Income that has been earned but not yet received in a particular accounting period
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Accrued Liability
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A debt that has been incurred but not yet paid that appears on the balance sheet
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Accumulate
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To collect or gather over a period of time
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Accurate
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Conforming carefully to truth or fact
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Achieve
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To bring to a successful end, or to get by effort
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