GAAP
The total amount of core GAAP principles
What is 10?
the process of retrieving, recording, storing and summarizing financial transactions for a business
What is accounting?
It's the side that 'debit' is usually on in the accounting equation
What is 'left'?
The accounting equation is....
What is Assets = Liabilities + Owners Equity?
CPA stands for this
What is Certified Public Accountant?
Its what GAAP stands for
What is Generally Accepted Accounting Principles?
The CPA exam has this many parts
What is 4?
Purchasing materials with cash, the cash would be the.....
What is credit?
Liability accounts normally have ____________ balances
What is credit?
CMA stands for this
What is Certified Management Accountant?
An expense being reported at the same time as its corresponding revenue
What is Matching Principle?
The CMA exam has this many parts
What is 2?
_____________ must equal _______________
What is debits and credits?
When a company owes money to customers, it is listed as this
What is liability?
This type of accountant records and analyzes financial information for use within a company
What is a management accountant?
The principle that is based on the assumption a company will continue operations
What is the going concern principle?
person who owns or has invested in the company
What is a stakeholder?
A customer paying $5000 for building materials would be a debit to this account
What is building materials?
An increase in an asset would be placed on this side
What is the left?
This type of accountant may perform investigations to ensure regulations or taxations are being followed
What is government Accountant?
The principle that states accountants must only record information that can be proved
What is Reliability?
This is how many work hours it takes to become a CPA
What is 1800
A cash in advance for a service - credit would be called....
What is unpaid service revenue?
a public document which shows a company’s assets and liabilities
What is balance sheet?
______________ accountants have the opportunity to work with multiple clients in different industries
What is public?