A financial statement that reports a company's assets, liabilities, and equity at a
specific point in time.
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Balance Sheet
The federal agency charged to protect investors and maintain the integrity of
securities markets.
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Securities and Exchange Commission
,The ability of accounting information to "be comprehensible to those who have a
reasonable understanding business...and are willing to study the information with
reasonable diligence".
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Understandability
The final income measure after the provision for income taxes is subtracted form
income before taxes.
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Net Income
The process of identifying, measuring, and communicating economic information to
permit informed judgements and decisions.
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Accounting
The difference between a company's assets and liabilities representing the share of
assets that is claimed by the company's owners.
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, Equity
A separate legal entity that is established by filing articles of incorporation in a state.
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Corporation
An obligation that is not expected to be satisfied within one year.
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Long-Term Liability
The cost of inventory sold during a period.
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Costs of Sale
The principle that a revenue should be recorded when a resource has been earned.
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specific point in time.
Give this one a try later!
Balance Sheet
The federal agency charged to protect investors and maintain the integrity of
securities markets.
Give this one a try later!
Securities and Exchange Commission
,The ability of accounting information to "be comprehensible to those who have a
reasonable understanding business...and are willing to study the information with
reasonable diligence".
Give this one a try later!
Understandability
The final income measure after the provision for income taxes is subtracted form
income before taxes.
Give this one a try later!
Net Income
The process of identifying, measuring, and communicating economic information to
permit informed judgements and decisions.
Give this one a try later!
Accounting
The difference between a company's assets and liabilities representing the share of
assets that is claimed by the company's owners.
Give this one a try later!
, Equity
A separate legal entity that is established by filing articles of incorporation in a state.
Give this one a try later!
Corporation
An obligation that is not expected to be satisfied within one year.
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Long-Term Liability
The cost of inventory sold during a period.
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Costs of Sale
The principle that a revenue should be recorded when a resource has been earned.
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