All Vocab 1-32

Maintaining accounting records with the help of computer software.

A person who has an interest in a company.

Amount earned is greater than the amount spent.

Form of accounting which produces information for external use through financial statements.

Amount earned is less than amount spent; a ____ occurs when there is no profit.

Maintaining accounting records by hand.

All information which is relevant to financial statement must be included in the financial statement.

Process of using information gathered from financial transactions and records.

Accounting method used to record tax transactions.

Process of recording daily business transactions; only one part of the accounting process.