POA: Accounting as a Profession & a System

Edit Answers
1234567891011121314
Across
  1. 2. Books of __ __. Used to classify and record information, step 2 of the accounting cycle.
  2. 3. Ethical principle where a professional accountant should be honest in all professional and business relationships
  3. 4. Accounts _____: referring to customers who owe us money, also known as debtors
  4. 6. Checks the arithmetical accuracy of your accounting records
  5. 8. The recording of financial transactions
  6. 9. Referring to the resources put into a business by the owner(s).
  7. 10. another term for the Trading and Profit and Loss Statement.
  8. 12. Type of business with 2 to 20 owners where liability of the business can be considered the liabilities of the owners.
  9. 14. Accounts = ______ + Capital
Down
  1. 1. ______ liability company is a type of company where the liabilities of the business does not affect the personal possessions of its owners
  2. 5. The Financial Statement that is a representation of the accounting equation.
  3. 7. The system that underlies accounting, it says that each transaction affects two accounts in their respective opposite side
  4. 11. a type of document that is gathered as the first step of the accounting cycle e.g. invoices, credit & debit note
  5. 13. Machinery & Furniture owned by the business are examples of this classification of assets