Accounting

Card Set Information

Author:
JPeers
ID:
20468
Filename:
Accounting
Updated:
2010-05-23 20:12:09
Tags:
accounting
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Description:
chapter 19
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  1. stockholders equity
    capital stock
  2. value of stockholders claim to the corporation
    stockholders equity
  3. represents the increase in stockholders equity
    retained earning
  4. means the info makes a difference
    relevance
  5. means the financial reports include enough information so that the report is complete
    full disclosure
  6. the info deemed relative should be included in financial reports
    materiality
  7. amount of sales for the period less any sales discounts, returns, and allowances
    net sales
  8. all costs relating to the merchandise purchased during the period
    net purchases
  9. profit made during the period b4 operating expenses are deducted
    gross profit on sales
  10. amount of income earned b4 federal coroporate income taxes are deducted
    operating income
  11. each dollar amount reported on a financial statement is also reported as a percentage of another amount
    vertical analysis
  12. comparison of the same items on financial statements for two or moree accounting periods or dates and the determination of changes from one period or date to the next
    horizontal analysis
  13. a year or period that is used for comparison
    base year
  14. amount by which current assests exceed current liabilities is known as
    working capital

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