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13 Cards in this Set
- Front
- Back
Assets |
the items detailed on a balance sheet, especially in relation to liabilities and capital. |
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Shareholders’ equity |
represents the amount by which a company is financed through common and preferred shares. Also known as "share capital" |
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Income Statements |
an accounting of income and expenses that indicates a firm's net profit or loss over a certain period of time, usually one year. |
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Cash Flow Statements |
an important measure of the financial health of a company. Derived from the balance sheet and income statement, the cash flow statement is a financial report that shows a company's incoming and outgoing cash |
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Account |
an amount of money deposited with a bank, as in a checking or savings account: |
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Accountant |
a person whose profession is inspecting and auditing personal or commercial accounts |
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Accounting period |
a regular period of time, as a month or a year, for which an operative statement is drawn up. |
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Accounts payable |
a liability to a creditor, carried on open account, usually for purchases of goods and services. |
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Accounts receivable |
a claim against a debtor, carried on open account, usually limited to debts due from the sale of goods and services. |
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Appreciation |
the act of estimating the qualities of things and giving them their proper value. |
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Audit |
an official examination and verification of accounts and records, especially of financial accounts. |
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Capital |
the wealth, whether in money or property, owned or employed in business by an individual, firm, corporation, etc. |
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Liabilities |
- moneys owed; debts or pecuniary obligations (opposed to assets). - Accounting. liabilities as detailed on a balance sheet, especially in relation to assets and capital. |