An individual accounting record of increases and decreases in specific asset, liability, stockholders' equity, revenue or expense items.
Accounting information system
The system of collecting and processing transaction data and communicating financial information to decision makers.
Events that require recording in the financial statements because they affect assets, liabilities, or stockholders' equity.
Chart of accounts
A list of a company's accounts.
The right side of an account.
The left side of an account.
A system that records the two-sided effect of each transaction in appropriate accounts.
The most basic form of journal.
A ledger that contains all asset, liability, stockholders' equity, revenue, and expense accounts.
An accounting record in which transactions are initially recorded in chronological order.
The procedure of entering transaction data in the journal.
The group of accounts maintained by a company.
The procedure of transferring journal entry amounts to the ledger accounts.
The basic form of an account.
A list of accounts and their balances at a given time.