Acronyms & Meanings
Functions
Activities
Processes
Perspectives
100
FASB
What is the acronym for Financial Accounting Standards Board
100
Hiring employees
What is the human resource function?
100
financing activities impact the income statement, the balance sheet, and the statement of owners’ equity
What is Financing activity
100
_________ is the set of policies and procedures designed to meet three objectives, promote operational efficiency, ensure the accuracy of accounting information, and encourage management and employee compliance with applicable laws and regulations
What is internal control system
100
relates to monitoring the company’s largest unrecorded asset-- it’s customer base
What is customer perspective
200
SEC
What is the acronym for Securities and Exchange Commission?
200
Responsible for managing the financial resources of the business
What is the finance function?
200
responsible for planning organizing directing and controlling the day to day activities of a business
What is production activity?
200
since the mid-1990s many companies have adopted a performance measurement and management process known as the balanced scorecard approach
What is performance measurement and management process?
200
concerns the company’s ability to take actions now to ensure its future
What is learning and growth perspective?
300
GAAP
What is What is the acronym for Generally Accepted Accounting Principles
300
Responsible for planning organizing directing and controlling the day to day activities of a business
What is the production function?
300
operating activities involve transactions that result from the earnings process of the company
What is operating activity?
300
goods produced and used to make other goods and services
What is The Capital Resources Process?
300
customer, learning and growth, internal, financial, are all perspective of the
What is balanced scorecard
400
LLC
What is the acronym for Limited Liability Corporation
400
Under the sales function
What is marketing
400
the activities involving purchasing and selling of long-term assets
What is investing activity?
400
involve transactions that result from the earnings process of the company
What is operating process
400
measures a business' financial activity
What is the financial perspectives
500
A board that creates standards for accounting and regularly inspects accountancy to ensure quality and accuracy
What is FASB
500
Determines the wants and needs of customers and devises a system for distributing goods and services to meet customer demand
What is the marketing function
500
The primary purpose of a budget is to present and describe the financial ramifications of plans for the future
What is planning activity?
500
the learning and growth perspective concerns the company’s ability to take actions now to ensure its future
What is research and development process?
500
The balanced scorecard has __ perspectives
What is 5
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