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6 Cards in this Set
- Front
- Back
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accrual basis accounting
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system of reporting revenues and expenses in the period in which they are earned or incurred
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cash equivalents
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short term, highly liquid investments such as U.S. Treasury Bills and money market accounts
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cash inflows
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cash received by the hospitality organization during the accounting period
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direct method
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method for converting net income to net cash flow. requires each item on the income statement be converted from accrual basis to cash basis
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indirect method
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starts with net income and then adjusts for non-cash items
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statement of cash flows
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reflects the cash inflows and outflows. explains the change in cash by showing its effects on cash of a business's operating, investing, and financing activities
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