accounting vocab

Front

Planning, recording, analyzing, and interpreting financial information.

Back

accounting

Front

Planned process for providing financial info useful to management.

Back

accounting system

Front

Organized summaries of a business's financial activities.

Back

accounting records

Front

Financial reports summarizing a business's financial condition and operations.

Back

financial statements

Front

A business that performs an activity for a fee.

Back

service business

Front

A business owned by one person.

Back

proprietorship

Front

Anything of value that is owned.

Back

Asset

Front

Financial rights to business assets.

Back

equities

Front

Amount owed by a business.

Back

Liability

Front

Amount left after liabilities subtracted from assets.

Back

owner's equity