Costs incurred with revenues

Amounts earned from selling products or services

Amounts earned from revenues less expenses incurred

Occurs when expenses are more than revenues

Costs incurred with revenues

Amounts earned from selling products or services

Occurs when expenses are more than revenues

Amounts earned from selling products or services

Occurs when expenses are more than revenues

Amounts earned from revenues less expenses incurred

Lenders

Shareholders

Government

Labour Unions

External Auditors

Customers

Managers

Officers

Internal Auditors

Sales Managers

Budget Officers

Controller

Lenders

Shareholders

Government

Labour Unions

External Auditors

Customers

Managers

Officers

Internal Auditors

Sales Managers

Budget Officers

Controller

A check of an organization's accounting systems and records.

An information system that identifies, measures, records and communicates relevant, reliable, and comparable information about an organization's economic activities

The part of accounting that involves recording economic transactions and events, either electronically or manually; also called record keeping.

The chief accounting officer of an organization.

A check of an organization's accounting systems and records.

The part of accounting that involves recording economic transactions and events, either electronically or manually; also called record keeping.

The process of developing formal plans for future activities, which often serve as a basis for evaluating actual performance

One or more individuals selling products or services for profit

One or more individuals selling products or services for profit

The government agency responsible for the collection of tax and enforcement of tax laws.

The government agency responsible for the collection of tax and enforcement of tax laws.

The principle that requires every business to be accounted for separately from its owner or owners; based on the goal of providing relevant information about each business to users

The government agency responsible for the collection of tax and enforcement of tax laws.

One or more individuals selling products or services for profit

The chief accounting officer of an organization.

The a corporation's shares when only one class of share capital is issued.

A business that is a separate legal entity under provincial or federal laws with owners that are called shareholders

The chief accounting officer of an organization.

A managerial accounting activity designed to help managers identify, measure and control operating costs.

: A business that is a separate legal entity under provincial or federal laws with owners that are called shareholders

Conducting business online; commonly sales transactions and/or marketing

Beliefs that separate right from wrong.

The amount a business earns after subtracting all expenses necessary to create revenues; also called net income or profit.

Conducting business online; commonly sales transactions and/or marketing.

Conducting business online; commonly sales transactions and/or marketing

Beliefs that separate right from wrong

The costs incurred to earn revenues (or sales). Outflows or the using up of assets as a result of the major or central operations of a business; also, liabilities may be increased.

Persons using accounting information who are not directly involved in the running of the organization; examples include shareholders, customers, regulators, and suppliers

Persons using accounting information who are not directly involved in the running of the organization; examples include shareholders, customers, regulators, and suppliers.

Examine and provide assurance that financial statements are prepared according to generally accepted accounting principles (GAAP).

Persons using accounting information who are not directly involved in the running of the organization; examples include shareholders, customers, regulators, and suppliers

The costs incurred to earn revenues (or sales). Outflows or the using up of assets as a result of the major or central operations of a business; also, liabilities may be increased.

Work for local, provincial and federal government agencies.

The area of accounting aimed at serving external users.

The rules adopted by the accounting profession that make up acceptable accounting practices for the preparation of financial statements.

Employees within organizations who assess whether managers are following established operating procedures and evaluate the efficiency of operating procedures.

The area of accounting aimed at serving external users.

Work for local, provincial and federal government agencies.

Employees within organizations who assess whether managers are following established operating procedures and evaluate the efficiency of operating procedures.

The rules adopted by the accounting profession that make up acceptable accounting practices for the preparation of financial statements.

The owner's liability is limited to their investment in the business.

Procedures set up to protect assets, ensure reliable accounting reports, promote efficiency, and encourage adherence to company policies.

Persons using accounting information who are directly involved in managing and operating an organization; examples include managers and officers.

Procedures set up to protect assets, ensure reliable accounting reports, promote efficiency, and encourage adherence to company policies.

Persons using accounting information who are directly involved in managing and operating an organization; examples include managers and officers.

The owner's liability is limited to their investment in the business.

Restricts partners' liabilities to their own acts and the acts of individuals under their control. A partnership in which each partner is not personally liable for malpractice or negligence claims unless the partner was responsible for providing the service that resulted in the claim.

Includes both general partner(s) with unlimited liability and a limited partner(s) with liability restricted to the amount invested.

Includes both general partner(s) with unlimited liability and a limited partner(s) with liability restricted to the amount invested.

The amount a business earns after subtracting all expenses incurred to generate revenues; also called profit or earnings.

See Net Loss

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The amount a business earns after subtracting all expenses incurred to generate revenues; also called profit or earnings

Activity in which suggestions are offered for improving a company's procedures; the suggestions may concern new accounting and internal control systems, new computer systems, budgeting, and employee benefit plans.

The area of accounting aimed at serving the decision-making needs of internal users. The collecting, managing, and processing of financial and nonfinancial information for use by managers and other internal decision makers of an organization

The amount a business earns after subtracting all expenses incurred to generate revenues; also called profit or earnings.

An unincorporated association of two or more persons to pursue a business for profit as co-owners.

The amount a business earns after subtracting all expenses incurred to generate revenues; also called profit or earnings.

The amount a business earns after subtracting all expenses incurred to generate revenues; also called profit or earnings

Arises when total expenses are more than revenues (sales). The excess of expenses over revenues for a period

An unincorporated association of two or more persons to pursue a business for profit as co-owners.

The amount a business earns after subtracting all expenses incurred to generate revenues; also called net income or earnings

Accountants who work for a single employer other than the government or a public accounting firm.

An unincorporated association of two or more persons to pursue a business for profit as co-owners.

An unincorporated association of two or more persons to pursue a business for profit as co-owners.

The amount a business earns after subtracting all expenses incurred to generate revenues; also called net income or earnings

Accountants who provide their services to many different clients.

Accountants who work for a single employer other than the government or a public accounting firm.

Accountants who provide their services to many different clients

The recording of financial transactions and events, either manually or electronically; also called bookkeeping.

The amounts earned from selling products or services; also called sales. Inflows of assets received in exchange for goods or services provided to customers as part of the major or primary operations of the business; may occur as inflows of assets or decreases in liabilities.

A business owned by one individual that is not organized as a corporation; also called a sole proprietorship

The amounts earned from selling products or services; also called revenues.

The owners of a corporation.

A unit of ownership in a corporation

The owners of a corporation.

A unit of ownership in a corporation

The owners of a corporation.

Involves considering the impact and being accountable for the effects that actions might have on society

A business owned by one individual that is not organized as a corporation; also called a sole proprietorship

Involves considering the impact and being accountable for the effects that actions might have on society

A business owned by one person that is not organized as a corporation; also called single proprietorship

Involves considering the impact and being accountable for the effects that actions might have on society

A business owned by one person that is not organized as a corporation; also called single proprietorship.

Involves considering the impact and being accountable for the effects that actions might have on society.

The field of accounting that includes preparing tax returns and planning future transactions to minimize the amount of tax; involves private, public, and government accountants

When the debts of a sole proprietorship or partnership are greater than its resources, the owner(s) is financially responsible

The field of accounting that includes preparing tax returns and planning future transactions to minimize the amount of tax; involves private, public, and government accountants