Across
- 3. The systematic write-off of the cost of a tangible asset over its estimated useful life
- 7. Assets=Liabilities + Owners' Equity; this is the basis for the balance sheet
- 9. How much a firm earned by buying (or making) and selling merchandise
- 11. Accounting used to provide information and analyses to managers inside the organization to assist them in decision making
- 13. Costs involved in operating a business, such as rent, utilities, and salaries
- 14. Long-term assets (e.g, patents, trademarks, copyrights) that have no real physical form but do have value
- 16. accountant trained in tax law and responsible for preparing tax returns or developing tax strategies
- 17. The assessment of a firm's financial condition using calculations and interpretations of financial ratios developed from the firm's financial statements
- 19. Financial statement that reports a firm's financial condition at a specific time and is composed of three major account: assets, liabilities, and owners' equity
- 20. The recording of business transactions
- 21. A yearly statement of the financial condition, progress, and expectations of an organization
- 22. An accountant who has a bachelor's degree and two years of experience in internal auditing, and who has passed an exam administered by the Instituted of Internal Auditors
- 23. Revenue left over after all costs and expenses, including taxes, are paid
- 24. Current liabilities are bills the company owes to others for merchandise or services purchased on credit but not yet paid for
- 28. Accounting system for organizations whose purpose is not generating a profit but serving ratepayers, taxpayers and others according to a duly approved budget
- 32. Items that can or will be converted into cash within one year
- 34. The amount of the business that belongs to the owners minus any liabilities owed by the business
- 35. The financial statement that shows a firm's profit after costs, expenses, and taxes; it summarizes all of the resources that have come into the firm (revenue), all the resources that have left the firm (expenses), and the resulting net income or net loss
- 38. The difference between cash coming in and cash going out of a business
- 39. An accountant who provides accounting services to individuals or business on a fee basis.
- 40. What the business owes to others (debts)
- 41. Long-term liabilites that represent money lent to the firm that must be paid back
- 42. Short-term or long-term liabilities that a business promises to repay by a certain date
Down
- 1. Accounting information and analyses prepared for people outside the organization
- 2. A measure of the cost of merchandise sold or cost of raw materials and supplies used for producing items for resale
- 4. The accumulated earning from a firm's profitable operations that were reinvested in the business and not paid out to stockholders in dividends.
- 5. The recording, classifying, summarizing, and interpreting of financial events and transactions to provide management and other interested parties the information they need to make good decisions
- 6. The job of reviewing and evaluating the information used to prepare a company's financial statements
- 8. A professional accountant who has met certain educational and experience requirements, passed a qualifying exam, and been certified by the Institute of Certified Management Accountants
- 10. A summary of all the transactions that have occurred over a particular period
- 12. Economic resources (things of value) owned by a firm
- 15. A specialized accounting book or computer program in which information from accounting journals is accumulated into specific categories and posted so that managers can find all the information about one account in the same place
- 18. A six-step procedure that results in the preparation and analysis of the major financial statements
- 25. An accountant who passes a series of examinations established by the American Institute of Ceritified Public Accountants (AICPA)
- 26. Financial statement that reports cash receipts and disbursements related to a firm's three major activities: operations, investments, and financing
- 27. The ease with which an asset can be converted into cash
- 29. The practice of writing every business transaction in two places
- 30. An accountant who works for a single firm, government agency, or nonprofit organization
- 31. An evaluation and unbiased opinion about the accuracy of a company's financial statements
- 33. Assets that are relatively permanent, such as land, buildings and equipment
- 36. A summary of all the financial data in the account ledgers that ensures the figures are correct and balanced
- 37. The record book or computer program where accounting data are first entered