Definitions
Computerized Accounting System
Financial Reporting through the use of computers
The ability to use computerized systems and devices.
Technology Skills
Reporting of revenues is divided by standard accounting periods
Principle of Periodicity
Perform data analysis and advise senior managers on profit-maximizing ideas. Responsible for the financial health of an organization.
Financial Manager
The set of accepted industry rules, practices, and guidelines for financial accounting.
GAAP
Ethics
The study of right and wrong and how people choose what is morally good and bad
Ability to get along with others
Interpersonal Skills
at the balance sheet day the entity. takes into account the expected risks and losses related to assets and liabilities
Principle of Prudence
Certified Public Accountant
-AICPA
-SEC
-FASB
-GASB
Governing Bodies
Public Intrest
Serve the public interest, honor pubic trust, and demonstrate commitment to the profession.
The ability to use people, materials, money, and time efficiently
Reasource Skills
Once you adopt an accounting principle or method, continue to follow it consistently in future accounting periods so that the results reported from period to period are comparable.
Principle of Consistency
a person authorized to review and verify the accuracy of financial records
Auditor
Established in 1973 to improve and establish standards of financial accounting by non-governmental entities.
FASB
Follow Code of Professional Conduct in determining scope and nature of services.
Scope and Nature of Services
Ability to learn and understand foundations
System Skills
What flows into a defined volume in a defined time, minus what flows out of that volume in that time, must accumulate in that volume.
Principle of Continuity
financial advisors to corporations and, in some cases, to governments. They help their clients raise money.
Investment banker
Sets ethical standards for the CPA profession
American Institute of Certified Public Accountants
Observe technical and ethical standards, improve competence, and perform to the best of your ability
Due Care
Realizing one’s own learning needs
Self Direction
The addition of an option to a choice set should never increase the probability of selecting an option from the original set
Principle of Regularity
responsible for assessing a loan applicant's ability to repay the loan
Credit Analyst
Empower the SEC with broad authority over the securities industry
Securities Act of 1934