Accounting Ch. 6
These are individuals who have met state requirements of education, practical experience, and passing the Uniform Examination for licensure to be allowed to provide auditing and other accounting services to the public.
Who are Certified Public Accountants (CPAs)?
These are the amounts owed to a company by its customers.
What are Accounts Receivable?
This is a strong desire for success or achievement.
What is ambitious?
This is the meaning of Think Win Win attitude.
What is I can win and so can you?
Great teams do NOT include this specific role.
What are doodlers?
This federal government agency holds legal responsibility over the reporting made by companies that issue publicly traded securities in the United States and works to ensure that this entire process functions as intended by the government.
What is the Securities and Exchange Commission (SEC)?
This is an alternative method that computes doubtful accounts expense by anticipating the percentage of sales (or credit sales) that will eventually fail to be collected.
What is Percentage of Sales Method?
A personal or specific bias of conduct or management.
What are principles?
This is when you are repeating words, using the same words, but are cold and uncaring.
What is mimicking?
This is the first step in getting to synergy.
What is defining the problem/opportunity?
This is a professional service performed by many CPA firms.
What is tax planning and preparation?
This is the term for a common variation used by many companies that first categorizes all receivable balances by age and then multiplies each of the individual totals by a different percentage.
What is Aging Method?
This is when you put something or someone at the highest or place in higher importance, rank, privilege, etc.
What is priority?
This is when we pay attention to parts of the conversation that we are interested in hearing or talking about.
What is selective listening?
This is what your spiritual dimension focuses on.
What is your soul?
This is the SEC reporting system that requires companies to file their financial statements and other information electronically to allow current and potential investors quick access over the internet.
What is EDGAR?
This is the term for the amount of cash a company estimates will be collected over time from their accounts.
What is Net Realizable Value?
What is balance?
This is when you pay attention to only what a person says, but not to their body language or their feelings.
What is word listening?
This is the foundation of our food pyramid.
What are carbs, greens, vegetables and fruit?
This is the nonprofit organization that holds the authority for establishing accounting standards for state and local government units in the United States.
What is GASB?
This is an example of the allowance for doubtful accounts that always appears with another account, but as a direct reduction to lower the reported value.
What is Contra Account?
These are socially determined expectations of how individuals should behave in a specific position.
What are roles?
These are the three steps when you are Genuinely Listening.
What are:
1. Listen with your eyes, heart and ears.
2. Stand in the other person's shoes.
3. Practice mirroring.
Being loyal to friends and family is part of this.
What is your RBA?