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35 Cards in this Set
- Front
- Back
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Skills |
Activities that you do well
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Values |
Principles you live by |
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Lifestyle |
the way you use our time energy and resources |
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Personality |
A set of unique qualities that makes us different from all other people |
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Personal intrest tests |
help you identify your preferences |
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Networking |
making contacts with people to share information and advice |
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Accountant |
handles broad range of responsibilities |
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Accounting clerk |
An entry level job that can vary from specializing in one part of the system to dong a wide range of tasks. |
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For profit buisnesses |
Operate to earn money for their owners |
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Not For Profit Organizations |
Operate for purposes other than making a profit |
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Public Accounting firms |
Provide clients a variety of accounting services including the independent audit |
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Audit |
The reviews of a company accounting system and financial statements to confirm that they follow generally accepted accounting principles |
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Certified public accountant |
accountant who has met certain education and experience requirements and passed a national test |
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Free enterprise system |
people are fee to produce the goods and services they choose |
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Profit |
amount of money earned over and above the amount spent to keep the business operating |
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Loss |
Business that spend more money than they earn operate at a loss |
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Entrepreneur |
Person who transforms ideas for products or services into real world business |
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Capital |
Money that investors banks r business owners supple |
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service business |
provides A needed sevice for a fee |
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Merchandising Business |
Buys finished products and resells them to individuals or other business |
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Manufacturing business |
Buys raw materials uses labor and machinery to transform them into finished products and sells the finished products to individuals or other business |
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Sole Proprietorship |
Business owend by one erson |
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Partenership |
Business owned by two people who agree t operate the business as co workers |
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Corporation |
Business recognized by law to have a life f its own. |
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Charter |
Gives corporation certain rights and privileges. |
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Accounting System |
designed to collect document and report financial transactions affecting the buisness |
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Manual Accounting system |
The accounting information is processed by hand |
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Computerized accounting system |
The Financial Information is recorded by entering it into a computer |
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GAAP |
generally accepted accounting principles |
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Financial Reports |
Summarized information about the financial status of a business |
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Financial Accounting |
Focuses on Reporting information to external users |
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Management Accounting |
Focuses on reporting information to management |
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Business Entity |
exists independently of its owners personal holdings |
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Accounting Period |
Period of time covered by an accounting report |
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Going Concern |
Accountants assume that a business has the ability to survive and operate indefinitely |
