Across
- 1. Certified professionals who specialize in accounting and financial management knowledge. They typically work for a single company.
- 3. A set of global accounting guidelines, formulated by the International Accounting Standards Board (IASB)
- 5. U.S. governmental agency that oversees the U.S. financial markets.
- 10. Measures how profitably a company uses its assets.Net income/Average total assets
- 13. Providing information that is complete, neutral, and free from error.
- 14. the net income or net floss of the business for a specific period.
- 15. Amounts earned from delivering goods or services to customers.
- 16. The information system that measures business activities, processes the information into reports, and communicates the results to decision makers.
- 18. Requires management to review internal control and take responsibility for the accuracy and completeness of their financial reports.
- 20. Reports on a businesses cash receipts and cash payments for a specific period.
- 24. A business with two or more owners and not organized as a corporation.
- 28. The result of operations that occurs when total expenses are greater than total revenue.
- 29. Business documents that are used to communicate information needed to make business decisions.
- 31. Owners contributions to a business.
- 32. A company in which each member is only liable for his or her own actions.
- 33. The private organization that oversees the creation and governance of International Financial Reporting Standards (IFRS)
- 34. Assumes that the entity will remain in operation for the foreseeable future.
- 35. An examination of a company's financial statements and records.
- 36. A principle that states that acquired assets and services should be recorded at their actual cost.
- 39. An organization that stands apart as a separate economic unit.
- 40. The basic tool of accounting, measuring the resources of the business (what the business owns or has control of) and the claims to those resources (what the business owes to creditors and to the owner). Assets = Liabilities + Equity
- 41. The right to receive cash in the future from customers for goods sold or for services performed.
Down
- 2. A business organized under state law that is a separate legal entity.
- 4. The private organization that oversees the creation and governance of accounting standards in the United States.
- 6. A person or business to whom a business owes money.
- 7. The costs of selling goods or services.
- 8. Accounting guidelines, currently formulated by the Financial Accounting Standards Board (FASB); the main U.S. accounting rule book.
- 9. A short-term liability that will be paid in the future.
- 11. Shows the changes in the owner's capital account for a specific period.
- 12. The assumption that requires the items on the financial statements to be measured in terms of a monetary unit.
- 17. Reports on the assets, liabilities, and owners' equity of the business as of a specific date.
- 19. The results of operations that occurs when total revenues are greater than total expenses.
- 21. A business with a single owner.
- 22. An event that affects the financial position of the business and can be measured with faithful representation.
- 23. Debts that are owed to creditors.
- 25. Licensed professional accountants who serve the general public.
- 26. The field of accounting that focuses on providing information for internal decision makers.
- 27. The field of accounting that focuses on providing information for external decision makers.
- 30. The owners claim to the assets of the business.
- 37. of equity to the owner.
- 38. Economic resources that are expected to benefit the business in the future. Something the business owns or has control of.