Basic Accounting Principles

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Across
  1. 2. amount of money a business receives over a period of time
  2. 5. cost directly associated with making or acquiring products
  3. 7. sets accounting principles
  4. 10. amount of money the business has earned after paying income taxes
  5. 12. money owed to the business for purchases made by customers, suppliers and other vendors
  6. 14. expenses which are necessary, stable and occur regularly
  7. 15. are any assets easily converted into cash within one calendar year
  8. 16. assets which are not able to be sold quickly which carry higher risk of losing
  9. 19. comprised of all short-term obligations owed by your business to creditors,
  10. 23. is money available immediately
  11. 24. tabulation of all expenses incurred
  12. 28. daily expenses incurred in the operation of a business
  13. 29. property which a firm owns long-term, will not be converted to cash for at least
  14. 30. represent the amount of revenue generated by the business
  15. 31. assessing the amount of goods which are in the possession of the business
  16. 32. notes due within the year
Down
  1. 1. accounting rules used to prepare, present and report financial statements
  2. 3. systematic recording, reporting and analysis of financial transactions according
  3. 4. total dollar value of all fixed assets in your business, less any accumulated
  4. 6. required contribution for the support of a national, state or local government
  5. 8. also called total equity, found by subtracting liabilities from assets
  6. 9. expenses which are still necessary but do not have a fixed amount
  7. 11. are items of value owned by the company
  8. 13. assets which can be easily converted into cash
  9. 17. expenses which are not necessary to daily operation of the business
  10. 18. income which does not come from the primary goal of business
  11. 20. debts the company owes or obligations the company has
  12. 21. and other vendors
  13. 22. based on income tax
  14. 25. income from sales or services based on the goal of the business
  15. 26. accepted principles in order to provide meaningful financial information
  16. 27. subtracting the cost of goods sold from net sales figures