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Accounting 1
Accounting 2
Accounting Equation
Financial Statements
Misc.
100
The basic accounting equation
What is Assets = Liabilities + Owner's Equity
100
The four primary financial statements
What are the Incomes Statement, Owner's Equity Statement, the Balance Sheet, and the Statement of Casdh Flows?
100
Careers in auditing and taxation serving the general public.
What is Public Accounting?
200

Management, human resources, finance, and marketing

What are some internal users of accounting data?

200
Resources a business owns. Provide future services or benefits. Cash, Supplies, Equipment, etc
What are assets?
200
Reports the revenues and expenses for a specific period of time
What is the Income Statement?
200
Careers in industry working in cost accounting, budgeting, accounting information systems, and taxation.
What is Private Accounting?
300
IRS, investors, creditors, customers, and the SEC
What are some external users of accounting data?
300
Claims against assets (debts and obligations). Creditors - party to whom money is owed. Accounts payable, Notes payable, etc
What are liabilities?
300
Statement indicates the reasons why owner’s equity has increased or decreased during the period
What is the Owner's Equity Statement?
300
Careers with the IRS, the FBI, the SEC, and in public colleges and universities.
What are careers in government?
400
SEC
What is the Securities and Exchange Commission?
400
Forms of Business Ownership
What are Proprietorship, Partnership, and Corporation
400
Ownership claim on total assets. Referred to as residual equity. Capital, Drawings, etc. (Proprietorship or Partnership).
What is owner's equity?
400
Contains sections for assets and liabilities and is for a point in time
What is the balance Sheet?
400
Careers with insurance companies and law offices to conduct investigations into theft and fraud.
What is Forensic Accounting?
500
FASB
What is the Financial Accounting Standards Board?
500
Companies that have had major accounting issues in the past 10 years
What are Enron, Worldcom, Healthsouth, AIG, etc?
500
sales, fees, services, commissions, interest, dividends, royalties, and rent
What are sources of revenue?
500
Answers where: Where did cash come from? What was cash used for? What was the change in the cash balance?
What is the Statement of Cash Flows?