What is Revenue? A debit or credit
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Credit
Sarbanes-Oxley
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, The United States introduced this act to require companies to review
internal control and take responsibility for the accuracy and completeness
of their financial statement.
It is a criminal offense if a company does have a false financial statement.
The watchdog agency is the Public Company Accounting Oversight Board,
(PCAOB).
Matching principle
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Expenses should be recorded during the period in which they are incurred,
regardless of when the transfer of cash occurs.
U.S. Gaap
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The main U.S. accounting rule book.
It is currently created and governed by the FASB.
(Page 6)
Cash Basis Accounting
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Give this one a try later!
Credit
Sarbanes-Oxley
Give this one a try later!
, The United States introduced this act to require companies to review
internal control and take responsibility for the accuracy and completeness
of their financial statement.
It is a criminal offense if a company does have a false financial statement.
The watchdog agency is the Public Company Accounting Oversight Board,
(PCAOB).
Matching principle
Give this one a try later!
Expenses should be recorded during the period in which they are incurred,
regardless of when the transfer of cash occurs.
U.S. Gaap
Give this one a try later!
The main U.S. accounting rule book.
It is currently created and governed by the FASB.
(Page 6)
Cash Basis Accounting
Give this one a try later!
