Chapter 1 Accounting 1 Vocabulary

  • June 2020
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Chapter 1 accounting 1 Vocabulary

Account form Account payable Account receivable Accounting Accounting equation Assets Balance sheet Business Business entity concept Business stakeholder Business stakeholder Business transaction Certified Management Accountant (CMA) Certified Public Accountant Corporation Cost concept Ethics Expenses Fees earned Financial accounting Financial Accounting Standards Board (FASB) Financial statements Generally accepted accounting principles (GAAP) Income statement

Interest revenue Liabilities Limited liability Company (LLC) Management (or managerial) accounting Manufacturing business Matching concepts Merchandising business Net income or net profit Net loss Objectivity concept Owners equity

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