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Accounting Chapter 1
Term | Definition |
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accountant | A person who handles a broad range of responsibilities, makes business decisions, and prepares and interprets financial reports. |
accounting clerk | An entry-level job that can vary from specializing in one part of the system to doing a wide range of tasks. |
audit | The review of a company’s accounting systems and financial statements to confirm that they follow generally accepted accounting principles |
certified public | A licensed professional who has met certain education and experience requirements and passed a national test. |
accountant (CPA) | a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals. |
for-profit business | A business that operates to earn money for its owners. |
lifestyle | The way a person uses time, energy, and resources. |
networking | Making contacts with people to share information and advice. |
not-for-profit | An organization that operates for purposes other than making a profit. |
organization | an organized body of people with a particular purpose, especially a business, society, association, etc. |
personal interest tests | Tests that help individuals to identify their preferences and to match interests to potential careers. |
personality | A set of unique qualities that makes a person different from all other people. |
public accounting | A business that provides a variety of accounting services including the independent audit. |
firm | any company that seeks to make a profit by manufacturing or selling products or services – or both – to consumers. |
skills | The activities that a person does well. |
values | The principles a person lives by and the beliefs that are important to the person. |