Accounting Midterm #1 Key Terms

be Midterm #1 CH 1-7 1. Creditors- Lender to a caller-up 2. bus- film director manages the company does not pissed they are the owner 3. Financing activities- buzz off around notes or paying back money to their lenders and receives supererogatory funds or pays dividends to owners 4. Investing activities- buy or sells items such(prenominal) as plant and equipment employ in producing service or good 5. Operating activities- Includes everything that returns the product 6. Suppliers- Where companies buy their supplies from to make good 7. business relationship- A outline that collects and processes fiscal information or so an organization and reports that info to closing making 8. native decision making- EX. Managers in the company 9. External decision making- investors, bank, creditors, suppliers, customers 10. focus accounting- circumstantial plans and continuous effect reports for internal people 11. Financial accounting- semimonthly mo dischargeary statements and related disclosures for a focus decision makers 12. Balance sheet- reports the amount of money of assets, liabilities, and stockholders fairness of an accounting entity at a POINT IN TIME 13. Accounting Entity- The organization for which pecuniary data are to be collected 14.

Accounting Equation- Assets = Liabilities + Stockholders Equity 15. Stockholders Equity- The amount of financing leave behindd by owners of the business and earnings. 16. Income Statement- reports the revenues slight the expenses od the accounting result 17. Accounting detail- the time period cover by the pecuniary statements 18. Statement of retained earnings- Reports the way that net income and the distribution of dividends stirred the financial position of the company during the accounting period 19. Statement of silver flows- reports inflows and outflows of cash during the accounting period in the categories of operating, investing, and financing 20. Notes- provide supplemental information about...If you involve to get a bounteous essay, order it on our website: Ordercustompaper.com

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