Balance Sheet = BS
This financial statement shows what a company owns, owes, and is worth — all at a single point in time.
The Balance Sheet
This statement shows revenues and expenses over a period of time.
Income Statement
This symbol is used to start every formula in Excel.
+ or =
This mid-tier accounting firm was at BAP last week — you might’ve seen their signature purple branding while learning about their audit and advisory work.
What is Grant Thornton?
These are "The Big 4" firms
What is EY, KPMG, PwC, Deloitte?
Cash, accounts receivable, and inventory are all examples of these short-term resources.
Current Asset
This expense represents the cost of using long-term assets like equipment or buildings.
Depreciatioin
This function adds up all the numbers in a range.
Sum
With red and white branding, this firm's full name comes with a "house" in the middle.
What is PwC?
This software program is the most widely used tool for data analysis, financial modeling, and accounting spreadsheets.
What is Excel?
This account is known as the “left side of the equation” — it always increases with a debit.
Asset
Wages, rent, and utilities are examples of recurring monthly expenses.
Operating expenses
This handy function counts numbers that meet specific criteria.
COUNTIF
These two firms recently merged together to create the 6th largest firm in the US.
What is Baker Tilly and Moss Adams?
These standardized accounting principles ensure that financial statements are consistent, comparable, and transparent across companies in the United States.
What is GAAP?
When a company buys equipment for cash, total assets do this (incr/decr/NC)
No Change
This type of expense is recognized when it’s incurred, not when it’s paid.
Accrued Expense
This function searches for a value in a table and returns related information from another column.
VLOOKUP or XLOOKUP
This firm's signature slogan is "Shape the future with confidence"
What is EY?
Formed in 1934 during the Great Depression, this U.S. government agency was established to regulate the securities industry and protect investors by requiring audited financial statements.
What is the Securities and Exchange Commission (SEC)?
This number represents the owner’s claim on the company after liabilities are subtracted from assets.
Equity, O/E, SH/E
This cost category includes goods sold, direct labor, and manufacturing overhead, goes after sales and before gross profit.
COGS
This feature lets you quickly summarize large data sets by dragging fields into rows, columns, and values.
Pivot Table
This is the 5th largest accounting firm in the US.
What is RSM?
In response to major corporate scandals like Enron and WorldCom, this 2002 law increased oversight of public companies and established the Public Company Accounting Oversight Board (PCAOB).
What is the Sarbanes–Oxley Act (SOX)?