Across
- 4. The monies that a business spends; also called expenditures
- 7. A method of accounting that records transactions at the time they occur even if no money changes hands at the time
- 11. The methods and procedures used in consistently handling the business’s financial information
- 13. An accounting method in which income and expenditures are recorded at the time the money changes hands
- 14. The accounting record for a specific department or area of the business
- 16. A business activity such as a sale, a purchase, or a return
- 18. A financial statement that captures the financial condition of the business at that particular moment
- 21. Debts that the business owes
- 27. The amount an owner has invested in the business plus or minus profits and losses
- 28. A financial summary that shows how much money the business has made or has lost; also called the profit-and-loss statement
Down
- 1. A type of accounting that involves preparing and reporting financial data to external users who are not directly involved in business operations
- 2. A type of accounting that involves preparing and reporting financial data to internal users, usually managers, who need financial information to control day-to-day operations and to make financial decisions and plans affecting the business
- 3. The process of keeping financial records
- 5. Money received by a business or an individual from outside sources
- 6. A summary of accounting information
- 8. A financial summary with estimates as to when, where, and how much money will flow into and out of a business
- 9. A special book or computer program in which a business’s transactions are recorded in the order in which they occur
- 10. A process or series of steps that businesses complete to maintain their financial records effectively
- 12. The total value of the business
- 15. Those who invest their funds in a business; may be owners or stockholders
- 17. Currency and coins
- 19. Rules that accountants must follow when preparing financial statements
- 20. balance The listing of a business’s different accounts and their current balances; used to check the accuracy of journal and ledger entries
- 22. The steps of the accounting cycle that involve recording each business transaction; the process of analyzing financial transactions, journalizing transactions, posting to ledgers, and balancing the books
- 23. The monies that a business spends; also called expenses
- 24. An individual who has had specialized training in accounting procedures
- 25. The arrangement by which businesses or individuals can purchase now and pay later
- 26. Anything of value that a business owns