4.01 Accounting

5. Anything of value that a business owns.
6. Type of accounting used by external users like investors and creditors.
11. The money a business spends to operate.
13. A financial statement that shows assets, liabilities, and owner’s equity at a specific point in time.
14. The final step of the accounting cycle, preparing accounts for the next period.
15. The owner’s investment in the business, plus or minus profits and losses.

1. The first step in the accounting cycle, identifying and reviewing financial events.
2. The process of keeping financial records.
3. Debts that a business owes.
4. Money earned by a business from its operations.
7. Individuals or businesses that lend money or extend credit to companies.
8. A report that estimates when, where, and how much money moves into and out of a business.
9. Type of accounting used by internal users like business managers.
10. A financial statement that shows revenues and expenses over a specific period.
12. People who buy shares in a company and want to see financial reports before investing.