Accounting
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| accounting system | is a designed to collect, document, and report on financial transactions affecting the business
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| manual accounting system | the accounting information is processed by hand
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| computerized accounting system | the financial information is recorded by entering it into a computer
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| GAAP | (generally accepted accounting principles) all accountants follow the same set of rules to prepare financial reports
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| Financial report | are summarized information about the financial status of a business
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| financial accounting | focuses on reporting information to external users. They are prepared for individuals not directly involved in the day-to-day operation of the business
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| management accounting | which focuses on reporting information to management, often referred to as accounting for internal users of accounting information. They are prepared for managers involved in making the day-to-day operating decisions like purchasing, hiring, production,
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| business entity | exsist independently of its owner's personal holding
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| accounting period | is a period of time covered by an accounting report. Can cover one month or three months, or one year
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| going concern | accountants assume that a business has the ability to survive and operate indefinitely
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
justinjurado
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