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10 Cards in this Set
- Front
- Back
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Probable future benefits
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Assets
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Probable future sacrafices
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Liabilites
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Residual interest or assets minus liabilites
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Equity
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Transfers to a company in exchange for an ownership interest
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Investment by owners
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Transfers to owners equity
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Distribution to owners
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Inflows of resources form providing goods or services; ongoing central operations
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Revenues
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Increases in equity from peripheral transcations
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Gains
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Outflows of resources in an effort to produce revenue
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Expenses
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Decreases in equity from peripheral transactions
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Losses
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Change in equity from non-owner sources
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Comprehensive Income
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