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Accounting Terms uno

Unit one terms (Vicab)

TermsDefintition
Accounting Planning, recording, analyzing, and interpreting financial information
Accounting System A planned process for providing financial activities
Accounting Records Organized summarises of a business's financial activites
Financial Statement
Service Busniess
Proprietorship
Asset Anything of value that is owned
Equities
Liability
Owner's Equity
Accounting Equation An equation showing the relationship amoung assets, liabilities, and owner's equity
Ethic
Business Eithics The use of eithics in making business decisions
Transaction
Account a record summarizing all the information pertaining to a single item in the accounting equation
Account title The name giving to an account
Account Balance The amount in an account
Capital The account used to summarize the owner's equity in a business
Revenue
Sale on account
Expense
Withdrawals
Created by: HalleBearr
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