definitions.txt

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Author:
kjbrown0916
ID:
26887
Filename:
definitions.txt
Updated:
2010-07-15 11:44:46
Tags:
acct def general
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Description:
General Accounting Definitions
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The flashcards below were created by user kjbrown0916 on FreezingBlue Flashcards. What would you like to do?


  1. ACCOUNTING
    Recording, classifying, summarizing, and interpreting of financial events and transactions to provide management and other interested parties the information they need to make good decisions
  2. PRIVATE ACCOUNTANT
    Accountant who works for a single firm, gov't agency, or nonprofit orgz and keeps track of accurate financial information
  3. PUBLIC ACCOUNTANT
    Provides acct services to indiv or businesses on a fee basis
  4. CERTIFIED PUBLIC ACCOUNTANT (CPA)
    • Accountant that passes a series of exams from the American Institute of CPA and meets state's req for education and experience
    • -Can be private/public
  5. GAAP
    Generally Accepted Accounting Principles established by independent Financial Accounting Standards Board (FASB) to assure users that financial information provided by businesses is accurate

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