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| The system of recording and reporting financial activity and transactions |
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| A formal examination of a company's financial records for accuracy and compliance with regulations |
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| A plan that whos what you expect to earn and spend in a certain period of time |
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| A written report which describes the financial health of company; usually prepared on a quarterly and annual basis |
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| A report showing all assets, liabilities, and owners equity of a business as of a specific date. |
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| Things (items) owned by a company |
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| Money owed by the business (debts, accounts payable) |
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| New worth of the business |
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| A report showing the revenue, expenses, and income (or loss) of a business for a specific period of time. |
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| The amount of money that a company earns |
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| Results when a business income is greater than its expenses. (Money left after a busines pays its expenses) |
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| Costs of maintaining and operating a business |
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| Results when a business expenses are greater than its income |
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Definition
The specific period of time covered by an accounting statement or report
(1 month or year) |
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| Statement of Change in Owners Equity |
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| Financial statement that reports the changes that have occured in the owner's equity account during the fiscal period. |
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Definition
| Top-level professional who may have final responsibility for one or many aspects of a business financial activity from accounting and taxation to preparing financial reports. Person will supervise financial departments of the company |
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| A professional who produces and examines financial records, prepares financial reports and tax returns, give budget and tax and investment advice to a company or customer |
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| CPA (Certified Public Accountant) |
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Definition
| Accountants who meet specific educational requirements and pass a national exam |
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Definition
| A professional who checks the accuracy or work performed by bookkeepers and accountants. Also check to make sure a company is following all financial laws and regulations. |
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| Person who handles bank deposits and withdrawals, etc. |
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