Term
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Definition
| protects investors and maintains the integrity of the securities market |
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Term
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Definition
| the highest officer in the company |
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Term
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Definition
| the highest officer associated with the financial and accounting side of business |
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Term
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Definition
| actually prepare the details of the financial reports |
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Term
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Definition
| elected by the shareholders to represent their interest; responsible for maintaining the integrity of the company's financial reports |
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Term
| Unqualified audit opinion |
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Definition
| auditor's statement that the financial statements are fair presentations in all material respects in the conformity with GAAP |
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Term
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Definition
| receive accounting reports and other information about the company from electronic information services |
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Term
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Definition
| predictions of earnings for future accounting periods |
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Term
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Definition
| a quick, unbiased reaction to information in finance |
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Term
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Definition
| allows investors to gather their own information about the company and monitor the recommendations of a variety of analysts |
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Term
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Definition
| managers of pension, mutual, endowment, and other funds that invest on the behalf of others |
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Term
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Definition
| financial institution or supplier that lends money to the company |
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Term
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Definition
| independent CPA who examines financial statements and attests to their fairness |
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Term
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Definition
| include individuals who purchase shares in companies |
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Term
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Definition
| be capable of making a difference in decisions |
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Term
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Definition
| can be relied upon, is accurate, unbiased and verifiable |
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Term
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Definition
| can be compared over time because similar accounting methods have been applied (over time) |
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Term
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Definition
| allows comparisons across businesses because similar accounting methods have been applied (across businesses) |
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Term
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Definition
| suggests that the benefits of accounting for and reporting information should outweigh the costs |
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Term
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Definition
| relatively small amounts not likely to influence decisions are to be recorded in the most cost-beneficial way. |
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Term
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Definition
| industry-specific measurements and reporting deviations may be acceptable |
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Term
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Definition
| exercise care not to overstate assets and revenues or understate liabilities and expenses |
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Term
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Definition
| amounts that are large enough to influence a user's decision |
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Term
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Definition
| cash equivalent price on the transaction date is used initially to measure elements |
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Term
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Definition
| record when measurable, realizable, and earned (evidence of customer payment arrangement exists, price is determinable, and collection is reasonably assured |
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Term
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Definition
| record when expenses are incurred to generate revenues |
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Term
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Definition
| provide information sufficiently important to influence a decision |
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Term
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Definition
| activities of the business are separate from activities of the owners |
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Term
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Definition
| accounting measurements will be in the national monetary unit |
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Term
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Definition
| entity will not go out of business in the near future |
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Term
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Definition
| the long life of a company can be reported over a series of shorter time periods |
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Term
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Definition
| a written public news announcement |
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Term
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Definition
| the difference between expected earnings and actual earnings |
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Term
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Definition
| relatively simple documents photocopied on white bond paper |
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Term
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Definition
| the annual report the publicly traded companies must file with the SEC |
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Term
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Definition
| the quarterly report that publicly traded companies must file with the SEC |
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Term
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Definition
| used by publicly traded companies to disclose any material event not previously reported that is important to investors |
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Term
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Definition
| summarized income statement information for the quarter |
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Term
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Definition
| have no physical existence and a long life |
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Term
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Definition
| a legal amount per share established by the board of directors |
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Term
| Gross profit (gross margin) |
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Definition
| net sales minus the cost of goods sold |
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Term
| Income from operations (operating income) |
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Definition
| net sales minus the cost of goods sold and other operating expenses |
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Term
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Definition
| revenues minus all expenses except income tax expense |
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Term
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Definition
| a short-term, highly liquid investment with an original maturity of less than three months |
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