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Acc. Chap. 7 Vocab

In the name

TermDefinition
Ratio Analysis The calculation and interpretation of a financial ratio
Financial Accounting Area of accounting which focuses on reporting information to external users
Pay Yourself First A budgeting strategy of setting aside at least 10% of after-tax income for saving and investing
Budget Financial road map used by individuals and companies as a guide for spending and saving
Financial Analysis A comparison between two components of financial informant
Surplus Positive balance that remains after total expenses are subtracted from total income
Managerial Accounting The area of accounting which focuses on reporting information to internal users
Stakeholders Any person or group that will be affected by an action
Vertical Analysis Reporting an amount on a financial statement as a percentage of another item on the same financial statement
Return On Sales (ROS) Ratio of net income to total sales.
Deficit Negative balance that remains after total expenses are subtracted from total income
Created by: bspiot
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