Show:
Accounting Profession
Accounting Principles
Accounting Process
Special Applications
Financial Reports
100
What is the technical term for a person who is certified as a public accountant?
What is a CPA
100
What is one way to estimate bad debts
What is taking a percentage of net credit sales
100
On an electronic accounting system, what report is no longer needed?
What is a worksheet
100
Journal entries to pya FICA taxes include
What is debiting asset accounts
100
This sheet breaks down the net profits or losses that a company makes
What is an income statement
200
Accountants must maintain this in order to provide financial security for their clients
What is confidentiality
200
Proper matching of revenue and expense is provided under what accounting method?
What is the accrual method?
200
The type of accounting that is useful for internal members of an organization
What is broker accounting
200
W-4 forms calculate what
What is income tax
200
This sheet is used to prepare an unadjusted trial balance and make any changes necessary. It is not used in an electronic accounting system
What is a worksheet
300
All accountants are expected to maintain this in their daily tasks
What is Generally Accepted Accounting Principles (GAAP)
300
Revenues are recognized as soon as a service is completed in what basis of accounting?
What is the accrual basis
300
When preparing a bank reconciliation, which step is essential?
What is taking the service charge from the balance in the checkbook
300
If Federal Employee Income Tax is 6%, what is the method for calculating this tax?
What is multiplying the employee's gross pay by .06 and subtracting the amount from the gross pay
300
This is used to compare assets, liabilities, and owners equity
What is a balance sheet
400
What is one of the big 4 accounting firms?
What are Deloitte, PwC, Ernst & Young, or KPMG
400
Deferred revenue is recorded as what?
What is a credit to liabilities
400
In the accounting process, what is essential for a company to do?
What is maintaining confidentiality of all financial reports
400
What is the situation in which employees are paid extra for working longer hours?
What is time and a half or overtime
400
This statement breaks down investing and operating activities
What is a statement of cash flows
500
This is a "language" that is used in accounting and reporting and is understood by all accountants around the world
What is the International Financial Reporting Standards (IFRS)
500
What is the best method of internal cash control?
What is dividing responsibilities among key individuals
500
When making entries on an electronic accounting system, what is it important to check every so often?
What is making sure the checkbook balance and the cash balance on the electronic system are equal
500
What is a tax that is deducted directly from employee pay and is later used for that employee's retirement?
What is social security
500
This statement shows the owner's capital at the start and adjusted capital at the end of the accounting period
What is a statement of owner's equity