Accounting Cross word

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Across
  1. 7. An accounting method where transactions are recorded only when cash is received or paid.
  2. 8. Sheet A financial statement that shows a company’s financial position at a specific point in time, listing assets, liabilities, and equity.
  3. 9. A complete record of all the financial transactions of a company, organized by accounts.
  4. 10. (Owner’s Equity) The owner's claim on the assets of a business, calculated as Assets minus Liabilities.
  5. 11. The fundamental formula of accounting:
  6. 12. The costs incurred by a business to generate revenue, such as rent, utilities, and wages.
  7. 13. An entry on the left side of an account ledger that increases assets or expenses, or decreases liabilities, equity, or revenue.
  8. 14. The process of recording, summarizing, analyzing, and reporting financial transactions.
  9. 18. A 12-month period used for accounting purposes, which may or may not align with the calendar year.
  10. 19. Statement A financial report that shows a company’s revenues and expenses over a period of time, used to calculate net income or loss.
Down
  1. 1. A list of all the accounts used by a business to record financial transactions.
  2. 2. Documents that provide an overview of a company’s financial performance, typically including the balance sheet, income statement, and statement of cash flows.
  3. 3. Flow The movement of cash in and out of a business, particularly in terms of operations, investments, and financing.
  4. 4. An accounting method where revenue and expenses are recorded when they are earned or incurred, not when cash is received or paid.
  5. 5. Obligations or debts that a business owes to others, such as loans or accounts payable.
  6. 6. Accounting A system of accounting where every transaction affects at least two accounts, ensuring the accounting equation remains balanced.
  7. 7. An entry on the right side of an account ledger that increases liabilities, equity, or revenue, or decreases assets or expenses.
  8. 15. Any business activity that affects the financial position of a company and can be measured in terms of money.
  9. 16. Resources owned by a business that have economic value, such as cash, equipment, or buildings.
  10. 17. The income generated from normal business operations, typically from sales of goods or services.