Exploring Business Activities: Accounting

Front

The system of recording and reporting financial activity and transactions.

Back

Accounting

Front

A formal examination of a company's financial records for accuracy and compliance with regulations.

Back

audit

Front

a plan that shows what you expect to earn and spend in a certain period of time

Back

budget

Front

A written report which describes the financial health of a company. Examples include: balance sheet, income statement, statement of changes in owners equity

Back

financial statement

Front

What is a report showing all assets, liabilities, and owners equity of a business as of a specific date? Options: income statement, accountant, balance sheet, revenue report

Back

balance sheet

Front

things owned by a company (items)

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assets

Front

money owed by a business (debts, accounts payable, taxes)

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liabilities

Front

net worth of the business

Back

Owners Equity

Front

a report showing the revenue, expenses, and income (or loss) of a business

Back

income statement

Front

the amount of money that a company earns

Back

revenue