Financial Statements
Tells you profits from revenue and expenses.
What is an Income Statement?
Something you own.
What is a Tax Accountant?
Owner's Equity tracks this.
What is the owner's investment?
Has Operating, Financing, and Investing Activities.
What is the Statement of Cash Flows?
What is a liability?
These businesses need accountants.
What is any business?
A bank would want to see this before giving a business a loan.
What is a balance sheet to check for liabilities and assets?
Has the Accounting Equation in it.
What is the Balance Sheet?
The notion that assets lose value over time.
What is depreciation?
Ethics is important in Accounting because you handle this.
What is money?
GAAP stands for this.
What is Generally Accepted Accounting Principles?
Tells you the Owner's Investment in a Company.
What is the Statement of Owner's Equity?
What is a long term asset?
Accountants also handle confidential information like this important piece of employee HR info.
What is salaries?
This type of accounting takes into consideration money not yet paid for a BIG PICTURE financial view.
What is Accrual Accounting?