4.0 Combined Vocab List

Front

Accountant

Back

An individual who has specialized training in accounting procedures.

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Accounting

Back

The process of keeping financial records.

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Accounting cycle

Back

A process or series of steps that businesses complete to maintain their financial records effectively.

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Accounting Standards

Back

Rules that accountants must follow when preparing financial statements.

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Accrual

Back

A method of accounting that records transactions at the time they occur.

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Acquisition of funds

Back

Financial activity involving making decisions about financing.

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Administration of Assets

Back

Financial activity involving making decisions about a firm’s investments.

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Assets

Back

Anything of value that a business owns.

Front

Balance Sheet

Back

A financial statement that captures the financial condition of the business at that particular moment.

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Capital investment decisions

Back

Decisions that determine which projects a business will invest in, how the investments will be financed, and whether to pay dividends to shareholders.