Assets
Liabilities
Revenues
Expenses
Wild card
100
This liquid asset can be used to pay salary
What is Cash?
100
These are due in under 1 year
What are short term liabilities?
100
This is whats left over for the owners of the company
What is shareholders?
100
I record this every year because the trucks are used so much
What is depreciation?
100
If my interest is going up, this is probably also going up
What is long term debt?
200

These assets owned are under 1 year 

What are short term assets?
200
These are the people that actually own the company
What are shareholders?
200
This pays for the air conditioning
What is General and Administrative?
200
This is what you pay your employess
What is Salary expense?
200
This set of standards makes all statements speak the same language
What is GAAP?
300
This is when customers still have not paid you
What is an accounts receivable?
300
These funds owed are over 1 year
What are long term liabilities?
300
If you have no interest then you do not have this
What is long term debt?
300
This requires us to always connect our sales of something to the cost of it.
What is the matching principal?
300
These are the two statements we focused on so far.
What are income statements and Balance sheets
400
This is also the Cost of Goods sold eventually
What is inventory?
400
This is when you have not paid for your bills yet
What us accounts payable?
400
I may sell a thing or a service. It is still this.
What is revenue?
400
The more money a firm makes, the more of this they have to pay.
What are taxes?
400
This always has to balance
What is a balance sheet?
500
These long term assets have to be depreciated over time
What are long term assets?
500
This liability gives the holders no opportunity to vote
What is long term debt
500
This is what left over from the sale of one item
What is gross margin?
500
If these are all bigger than revenues, then this will happen.
What is expenses and a loss
500
This statement is a snapshot of the numbers in a given moment
What is a balance sheet?
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