POB -Accounting

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Across
  1. 2. Accounts ________:All monies owed by the business to others
  2. 8. EQUATION: represents the relationship between assets, liabilities, and owners’ equity
  3. 9. __________statement - A financial summary that shows how much money the business has made or has lost over a period of time; also called the profit-and-loss statement.
  4. 10. Assets minus liabilities; also known as stockholders’ (or shareholders’) equity, book value, and net worth.
  5. 13. = Liabilities + Owners’ Equity
  6. 14. Debts, usually money, that the business owes.
  7. 15. The accounting record for a specific department or area of the business.
Down
  1. 1. Accounting is used to make good______ decisions
  2. 3. _______RECEIVABLE: All monies owed to a firm by its customers
  3. 4. The money received by resource owners and by producers for supplying goods and services to customers
  4. 5. _______WORTH: A company’s worth according to the balance sheet; also called book value
  5. 6. ___________accounting - 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
  6. 7. _________accounting - Used to reduce and eliminate costs in a business. Cost accounting is used to determine a price for a product or service that will allow earnings of a reasonable profit
  7. 11. ______sheet - A financial statement that captures the financial condition of the business at that particular moment.
  8. 12. ________flow statement - A financial summary with estimates as to when, where, and how much money will flow into and out of a business