friday4/22/11
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19 terms
Terms | Definitions |
|---|---|
 accounts payable | debts incurred and not yet paid. |
| accounts receivable | Amounts owed to the physician. |
| accounts receivable trial balance | A method of determining that the journal and the ledger are in balance |
| assets | property or items of value owned by a business |
| balance sheet | A financial statement that reports assets, liabilities, and owner's equity on a specific date. |
| bookeeping | the recording of business and accounting transactions |
| cash basis of accounting | income recorded when received and expenses are recorded when paid. |
| cash flow statement | A financial summary for a specific period that shows the beginning balance on hand, the receipts and disbursements during the period, and the balance on hand at the end of the period. |
| disbursements journal | A summary of accounts paid out. |
| equities | the money value of a property |
| fiscal year | any accounting period of 12 months |
| in balance | total ending balances of a patient ledgers equals total of accounts receivable |
| invoice | a paper describing a purchase and the amount due. |
| liabilities | things that are owed;debt |
| packing slips | an itimized list of objects in a package. |
| petty cash fund | A fund maintained to pay small unpredictable cash expenditures. |
| statement | request for payment |
| statement of income and exspense | summary of all income and exspense for given period |
| trial balance | checking the accuracy of accounts |
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