a system that collects and processes financial information about an organization and reports that informationto decision makers?
What is Accounting
100
Balance Sheet
What is the sheet that reports the financial position (amount of assets, liabilities, and stockholders' equity)?
100
the accounting equation
What is Assets = Liabilities + Stockholders' Equity
100
Cash
What are assets?
100
Expenses
What is the Income Statement?
200
developing accounting information for internal decision makers?
What is Managerial or Management Accounting
200
Income Statement
Revenues - Expenses
200
Liabilities
What is the company's debts or obligations?
200
Inventories
What are assets?
200
Assets
What is the Balance Sheet?
300
accounting for external decision makers (banks, investors)
What is Financial Accounting?
300
Statement of Retained Earnings
What is the statement that reports the way that net income and the distribution of dividends affects the financial position of the company during the accounting period?
300
Stockholders' Equity
What is the amount of financing provided by owners of the business and earnings?
300
Notes payable
What are liabilities?
300
Dividends
What is the Statement of Retained Earnings?
400
when companies borrow additional money or pays back money to its lenders?
What are Financing Activities?
400
Statement of Cash Flows
What is the statement that reports inflows and outflows of cash during the accounting period in the categories of operating, investing, and financing?
400
Accounting Period
What is the time period covered by the financial statements?
400
Accounts payable
What are liabilities?
400
Cash flow from investing activities
What is the Statement of Cash Flows?
500
when a company buys or sells items such as equipment used in making its products?
What is Investing Activities
500
Financial Position
What is the term for the economic resources that the company owns and the sources of financing those resources?
500
Expenses
What is the representation for the dollar amount of resources an entity used to earn revenues?