ACCOUNTING VOCABULARY

what is the name of this equation?

Assets+Liabilities= owner`s equity

what is expenses?

amount of money collected

• accountancy

• expenses

• final statement

• revenue

bookkeeping:

• is more difficult,

  which consists of analyzing and interpreting the financial and economic data recorded in books by of the accountant, to later be able to expose a balance sheet, value assets, make a

  certification, etc. through the application of accounting principles and standards

• transcribing in the form of

  records the daily operations of a company (sales that are reflected in invoices issued,

  purchases that are reflected in cash outflows and in the existence of invoices that justify

  those purchases)

• when all the accounts in the Ledger have been ruled and balanced, only one step remains in the accounting cycle: all of the debit balances must be added, all of the credit balances must be added, and the two totals must be compared to test their equality. This procedure is known as taking a Post-Closing Trial Balance.

• daily journal

crosssfoot:

• tilde/tildar

• procedure in which additions are made vertically as well as horizontally to assure the mathematical accuracy of totals.

• way in which the financial statements are turned over to the financial statements

• capital

disclosure:

• the key of the finantial statements

• is the journal of the accountant

• way in which the financial statements are turned over to the financial statements

• accounting equation

the result is the owner`s equity:

Is the practice of collecting detailed records on a companies business activities and presenting them in a clear form to the management

• Accurancy

• tax

• accounting

• accounts