Terms
Plus/Minus
My, My , My What must I do
Tell Me
Why, Why, Why
100
Certified Public Accountant
What is a CPA?
100
Any item of economic value owned by an individual or corporation, especially that which could be converted to cash.
What are Assets?
100
Accountants who may calculate actual production costs, standard costs or estimate new product costs for bids.
What is a Cost Accountant?
100
A report that reflects your Income and Expenses. The difference between Income and Expenses will either reflect a gain or loss for a particular period.
What is a Income Statement?
100
A service activity that provides quantitative data about the entity to make decisions or alternate courses of action.
What is Accounting?
200
The positive resulting difference between Revenue obtained and Expenses incurred for a period of time.
What is making a profit?
200
Financial obligations to another entity in order to provide goods and services to other entities.
What is a liability?
200
Accountants that examine carefully for accuracy with the intent of verification, as well as department compliance with generally accepted accounting principles, or GAAP.
What is a Auditor?
200
A report that presents your Assets, Liabilities and Stock Holder's equity over a period of time. This report presents your current resources, obligations and equity or netvalue to the owners.
What is a Balance Sheet?
200
How much does a accountant make?
Surprise discussion?
300
Internal Revenue Service
What is the I.R.S. ?
300
Someone who makes an investment into the business either as single proprietor, partner and the general public.
Who are stockholder's?
300
Accounting specialization focusing on tax preparation and planning. Accounting that deals with preparing a person's or company's financial information, so that it is possible to calculate how much tax they must pay.
What is a Tax Accountant?
300
This report is calculated as current assets minus current liabilities. A company can be endowed with assets and profitability, but short of liquidity, if these assets cannot readily be converted into cash.
What is a Working Capital Statement?
300
May I have your attention.
What is Mr. Ellis going to say ?
400
Generally Accepted Accounting Principles.
What is the GAAP?
400
Inflows of an entity during a period from delivering or producing goods, rendering services or other activities.
What is Revenue?
400
Accountants who assist in investment planning and help individuals prepare for retirement.
What is a Financial Accountant?
400
A financial statement that shows how a company’s cash changed in terms of its operating, investing, and financing activities, during a period of time. The statement doesn't show whether the business will be profitable, but it does show the cash position of the business at any given point in time by measuring revenue against outlays.
What is Statement of Cash Flows?
400
Someone who is responsible to help businesses, individuals or the government to analyze and understand financial information, reducing costs and the accuracy of data input among other job duties.
What is a Accountant?
500
Assets = Liabilities + Stockholder's Equity
What is the Accounting Model?
500
Outflows during a period of time from delivering or producing goods, rendering services or carrying out other activities.
What are expenses?
500
Accountants analyze historical financial data in order to track white-collar crimes such as securities fraud, embezzlement, money laundering and other questionable or illegal financial activities.
What is a Forensic Accountant?
500
The purpose of this statement is to report all the financing and investing activities of a business during a period.
What is a Statement of Changes in Financial position?
500
General Accounting focuses on your financial position, results from your business and changes in your financial position.
Why is General Accounting important in any business?
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