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Accounting Terms
Financial Statements
Ratios
100
Debit
What is the left side of a T account
100
First One
What is the Income Statement
100
Net Sales/Average Accounts Receivable
What is the Receivable Turnover Ratio
200
Revenue
What is it called when you perform your service or sell your product
200
Proves the Accounting Equation
What is the Balance Sheet
200
Current Assets minus Current Liabilities
What is Working Capital
300
Liability
What I Owe
300
Net Loss
What is it called when Expenses are greater than Revenue
400
GAAP
What are Generally Accepted Accounting Principles
400
Snap shot in time
What is the Balance Sheet
500
FASB
What is the Financial Accounting Standards Board
500
Companies Worth
What is the Stockholders Equity Section Balance