Accounting Terminology

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Across
  1. 4. Refer to costs of conducting business.
  2. 5. A type of expense, these kind of costs do not change from month to month.
  3. 8. A type of bookkeeping system that keeps the accounting equation (“Assets = Liabilities + Equity”) in balance.
  4. 9. They are federally licensed tax professionals who can represent U.S. taxpayers. They must pass the three-part special enrollment examination from the IRS.
  5. 10. Represented by the equation “Equity = Assets – Liabilities.”
Down
  1. 1. Consist of company earnings, or profit, which a business pays to its shareholders as a reward for their investment in its equity.
  2. 2. A risk management strategy, it mixes many different investments and assets in one portfolio, allowing individuals or businesses to spread out risk and protect themselves from financial ruin if any investments or assets fail.
  3. 3. It's an accounting entry made on the left side of an account.
  4. 6. This accounting method determines the decreasing value of a tangible asset over its lifetime.
  5. 7. Accountants use it to record financial transactions and data for companies.