Lernkarten

Marco Wernli
Karten 53 Karten
Lernende 1 Lernende
Sprache English
Stufe Universität
Erstellt / Aktualisiert 23.09.2019 / 24.09.2019
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Fenster schliessen

Accrual-basis accounting

Accounting basis in which companies record transactions that change a company’s financial statements in the periods in which the events occur. (p. 102).

Fenster schliessen

Accruals

Adjusting entries for either accrued revenues or accrued expenses. (p. 105).

Fenster schliessen

Accrued expenses

Expenses incurred but not yet paid in cash or recorded. (p. 114).

Fenster schliessen

Accrued revenues

Revenues for services performed but not yet received in cash or recorded. (p. 113).

Fenster schliessen

Adjusted trial balance

A list of accounts and their balances after the company has made all adjustments. (p. 121).

Fenster schliessen

Adjusting entries

Entries made at the end of an accounting period to ensure that companies follow the revenue and expense recognition principles. (p. 104).

Fenster schliessen

Book value

The difference between the cost of a depreciable asset and its related accumulated depreciation. (p. 109).

Fenster schliessen

Calendar year

An accounting period that extends from January 1 to December 31. (p. 102).