ACCT 203 Lecture 10: Class note 10
25 May 2018
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Class note 10
Accounting system
the personnel, procedures, devices, and records used by an organization to
develop accounting information and communicate that information to decision
makers
American Accounting Association
a professional accounting organization consisting primarily of accounting
educators that is dedicated to improving accounting education, research, and
practice
Audit
an investigation of financial statements designed to determine their fairness in
relation to generally accepted accounting principles
Balance sheet
a position statement that shows where the company stands in financial terms at a
specific date
Bookkeeping
the clerical dimension of accounting that includes recording the routine
transactions and day-to-day record keeping of an eterprise
Cash flow prospects
the likelihood that an enterprise will be able to provide an investor with both a
return on the investor's investment and the return of that investment
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Accounting system the personnel, procedures, devices, and records used by an organization to develop accounting information and communicate that information to decision makers. American accounting association a professional accounting organization consisting primarily of accounting educators that is dedicated to improving accounting education, research, and practice. Audit an investigation of financial statements designed to determine their fairness in relation to generally accepted accounting principles. Balance sheet a position statement that shows where the company stands in financial terms at a specific date. Bookkeeping the clerical dimension of accounting that includes recording the routine transactions and day-to-day record keeping of an eterprise. Cash flow prospects the likelihood that an enterprise will be able to provide an investor with both a return on the investor"s investment and the return of that investment. Certified internal auditor a professional designation issued by institute of internal auditors signifying expertise in internal auditing.
