| Term | Definition |
|---|
| Account | a record summarizing all the information pertaining to a single item in the accounting equation |
| Account balance | the amount in an account |
| Accounting cycle | the series of accounting activities included in recording financial information for a fiscal period |
| Accounting equation | an equation showing the relationship among assets, liabilities, and owner's equity |
| Accounting period cycle concept | changes in financial information are reported for a specific period of time in the form of financial |
| Accounting record | an organized summary of a business's financial activities |
| Accounting system | a planned process for providing financial information that will be useful to management |
| Account number | the number assigned to an account |
| Account title | the name given to an account |
| Adequate disclosure concept | financial statements that contain all information necessary to understand a business |
Combine with other sets
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