A device for recording the changes (increases or decreases in a fundamental accounting element.
One who is concerned with the design of the system of records, the preparation of reports based upon the recorded data, and the interpretation of the reports.
A launguage of business employed to communicate financial information based upon analyzing, recording, classification, summarization, reporting, and interpretation of financial data.
Assets equl Liabilities plus Owner's Equity.
An unwritten promise by a customer to pay, at a later date, for goods sold or services rendered. "you are owed money"
Property of Monetary value owned by a business.
One who is involved in the process of recording financial information in a prescribed manner.
Bookkeeper (information processor)
The recording of financial information in a prescribed manner.
The amount by which the total assets exceed the total liabilities of a business; an owner's financial interest in a business.
Capital (net worth; owner's equity; proprietorship)
Coins, Currency (paper money), checks, credit cards receipts and money orders recieved from others, as well as money deposited in the bank.
An individual possessing a college education, having practial experience in accounting and who has passed a comprehensive state examination in order to be certified to practice public accounting in that state.
Certified Public Accountant / CPA
A business or individual to whom a dept is owed.
A decrease in assets, other than withdrawals by the owner, which results from efforts to produce revenues.
An inflow of assets as a result of selling a product or providing a service.
Any debts that a business owes.
Expenses incurred incurred in the normal operation of a business.
Operating Expenses (overhead)
A type of asset that will be consumed as it is used. (Examples: embalming supplies and office supplies)
Any activity of a business enterprise that involves the exchange of values.