Lernkarten

Marco Wernli
Karten 61 Karten
Lernende 1 Lernende
Sprache English
Stufe Universität
Erstellt / Aktualisiert 23.09.2019 / 20.11.2019
Lizenzierung Keine Angabe
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0 Exakte Antworten 61 Text Antworten 0 Multiple Choice Antworten
Fenster schliessen

Accounting

The information system that identifies, records, and communicates the economic events of an organization to interested users. (p. 4).

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Assets

Resources a business owns. (p. 12).

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Auditing

The examination of financial statements by an independent accountant in order to express an opinion as to the fairness of presentation. (p. 27).

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Basic accounting equation

Assets = Liabilities + Equity. (p. 12).

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Bookkeeping

A part of accounting that involves only the recording of economic events. (p. 4).

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Comprehensive income statement

A financial statement that presents items that are not included in the determination of net income, referred to as other comprehensive income. (p. 22).

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Convergence

Effort to reduce differences between U.S. GAAP and IFRS to enhance comparability. (p. 8).

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Corporation

A business organized as a separate legal entity under corporation law, having ownership divided into transferable shares. (p. 10).