Study sets matching "accounting finance accounting finance english"

Study sets
Classes
Users

Study sets matching "accounting finance accounting finance english"

11 terms
Accounting/Finance
balance sheet
balance sheet equation
GAAP
SEC
a record of the financial situation of an institution on a pa…
Assets = Liabilities + Stockholders' equity
Generally accepted accounting principles
Securities and Exchange Commission
balance sheet
a record of the financial situation of an institution on a pa…
balance sheet equation
Assets = Liabilities + Stockholders' equity
Accounting and Finance
Cycle Process
revenues
expenses
assets
cyclical process of recording what a business does with its m…
Fees earned from providing services and the amounts of mercha…
expenses are costs that have been used up or have been incurr…
Assets are things that the company owns. They are the resourc…
Cycle Process
cyclical process of recording what a business does with its m…
revenues
Fees earned from providing services and the amounts of mercha…
16 terms
Accounting and Finance
Accounting
Creditor
Debtor
Goodwill
The process of collecting, recording and interpreting the fin…
Owed money by the business for buying goods or services on cr…
Customers who owe the business money as a result of buying go…
The reputation of a business based on their assets and client…
Accounting
The process of collecting, recording and interpreting the fin…
Creditor
Owed money by the business for buying goods or services on cr…
Accounting and Finance
Accounting
Management accounting
Business concept
Core competence
Helps describe the business situation and implications of cha…
Sales and distribution management... Material and production man…
May comprise a product or a combination of a product and a sp…
An activity or process that critically underpins an organizat…
Accounting
Helps describe the business situation and implications of cha…
Management accounting
Sales and distribution management... Material and production man…
38 terms
Finance and Accounting
Balance Sheet (statement of financial…
Efficiency
Growth
Liquidity
A financial statement that summarises a business's assets and…
the ability of a business to minimise its costs and manage th…
ability of a business to expand over time
the ability of a business to pay its short term debts as they…
Balance Sheet (statement of financial…
A financial statement that summarises a business's assets and…
Efficiency
the ability of a business to minimise its costs and manage th…
41 terms
Accounting & Finance
Variable Costs
Fixed Costs
Annual Report
Cash Flow
Costs that change with each change of unit of output
Costs that don't change with each change of unit of output
The annual financial statement showing the financial results…
The flow of cash into and out of the business
Variable Costs
Costs that change with each change of unit of output
Fixed Costs
Costs that don't change with each change of unit of output
42 terms
Finance English / Accounting
Bookkeeping
Double-entry bookkeeping
Ledger
Day books / journals
Grāmatvedība
Divkāršā uzskaites sistēma / a generally accepted system in a…
Virsgrāmata / main books of account
Kases grāmata / a book in which the transactions are recorded…
Bookkeeping
Grāmatvedība
Double-entry bookkeeping
Divkāršā uzskaites sistēma / a generally accepted system in a…
42 terms
Finance and accounting
income statement
statement of financial position
gross profit
operating profit
a document that gives the revenues and costs for a business a…
the financial document that lists all the assets and liabilit…
sales revenue minus the cost of sales
gross profit minus expenses (used to known as net profit)
income statement
a document that gives the revenues and costs for a business a…
statement of financial position
the financial document that lists all the assets and liabilit…
132 terms
Finance & Accounting
deferred income tax provision
deferred income tax value
income tax
VAT (Value Added Tax)
rezerwa z tytułu odroczonego podatku dochodowego
wartość odroczonego podatku dochodowego
podatek dochodowy
podatek od wartości dodanej
deferred income tax provision
rezerwa z tytułu odroczonego podatku dochodowego
deferred income tax value
wartość odroczonego podatku dochodowego
Accounting & Finance
Accounting
Financial Statements
Balance Sheet
Assets
Reporting financial activity
Written reports that describe financial health
Reports assets, liabilities, and owner's equity
Anything of value owned
Accounting
Reporting financial activity
Financial Statements
Written reports that describe financial health
20 terms
Accounting & Finance
accrue
allocate
annuity
budgetary
to accumulate, collect, or build up
to designate, set apart, or budget
a yearly payment of an allowance or income
pertaining to a financial or spending plan
accrue
to accumulate, collect, or build up
allocate
to designate, set apart, or budget
Accounting and Finance
Sole traders
Partnership
Small proprietary company
Intern finance
A business that is owned by one person
Exists when two or more people (not more than 20) go into a b…
A business structure,which has minimum of one shareholder wit…
Finance comes from sources within the business (CA & CL)
Sole traders
A business that is owned by one person
Partnership
Exists when two or more people (not more than 20) go into a b…
Accounts & Finance
Retained Profit
Trade Credit
Balance Sheet
Profit and Loss Account
1. At the end of the financial year, a firm can decide to kee…
This is where you buy something off another business, but the…
An account that gives a statement of a firm's wealth on a par…
A financial account showing the revenue, costs and profit of…
Retained Profit
1. At the end of the financial year, a firm can decide to kee…
Trade Credit
This is where you buy something off another business, but the…
11 terms
Accounting and Finance
stocks and bonds
bond
stocks
dividends
two primary forms of long term financing
a corporate certificate that obligates the issuer to... pay the…
a share of ownership in a corporation where each... share of sto…
a proportion of a company's profit that is paid to its shareh…
stocks and bonds
two primary forms of long term financing
bond
a corporate certificate that obligates the issuer to... pay the…
49 terms
ACCOUNTING AND FINANCE
ASSETS
LIABILITY
EQUITY
ENTITY
An Asset is a resource controlled by the entity as a result o…
A Liability is a present obligation of the entity arising fro…
Equity, in simple terms, is the value of the resources contri…
Organisation such as a business.
ASSETS
An Asset is a resource controlled by the entity as a result o…
LIABILITY
A Liability is a present obligation of the entity arising fro…
22 terms
Accounting and Finance
Accounting
Accounting Equation
Assets
Liabilities
Method of reporting financial activity of a business and Fina…
Assets = Liabilities + Owner's Equity
Anything of Value owned by the Business
Money owed by the business
Accounting
Method of reporting financial activity of a business and Fina…
Accounting Equation
Assets = Liabilities + Owner's Equity
20 terms
Accounting and Finance
Accrue (v)
Allocate (v)
Annuity (n)
Budgetary (adj)
To accumulate or collect
To designate, set apart, or budget
A yearly payment of an allowance/income
Pertaining to a financial or spending plan
Accrue (v)
To accumulate or collect
Allocate (v)
To designate, set apart, or budget
13 terms
Accounting and Finance
The Accounting Cycle
The Accounting Process
The interpretation and use of financia…
Personal and business finance
...
...
...
...
The Accounting Cycle
...
The Accounting Process
...
100 terms
Finance and Accounts
Business angels
Capital expenditure
Debt factoring
External source of finance
are wealthy entrepreneurs who risk their own money by investi…
is investment spending on fixed assets such as the purchase o…
is a financial service whereby a factor (such as a bank) coll…
Mean getting funds from outside the organisation, e.g through…
Business angels
are wealthy entrepreneurs who risk their own money by investi…
Capital expenditure
is investment spending on fixed assets such as the purchase o…
18 terms
Finance accounting
Income statement
Operating expenses
Financing cost
net working capital
Sales - Expenses = profits
Marketing and distrabution
The intrest paid to creditors
current A - Current L
Income statement
Sales - Expenses = profits
Operating expenses
Marketing and distrabution
Accounting & Finance
Accounting
CPA
Private Accounting
ALOE
The action or process of keeping financial accounts.... ...also…
Certified Public Accountant... Given by the American Institute o…
No need to be certified... Deals With- Preparing internal manage…
An equation ... Assets=Liability+Owners Equity
Accounting
The action or process of keeping financial accounts.... ...also…
CPA
Certified Public Accountant... Given by the American Institute o…
67 terms
accounting & finance
accounting info system
accounting transactions
the account
debit balance
system of collecting & processing transaction data & communic…
economic events that require recording --> occur when assets,…
individual accounting record of increases/decreases in a spec…
left side; total debit amounts exceed credit amounts
accounting info system
system of collecting & processing transaction data & communic…
accounting transactions
economic events that require recording --> occur when assets,…
Accounting & Finance
1. Be aware that small changes in prof…
2. Establish and enforce strong intern…
3. Take charge in choosing the account…
4. Spread out tax payment.
...
...
...
...
1. Be aware that small changes in prof…
...
2. Establish and enforce strong intern…
...
20 terms
Accounting &Finance
Accounting
Audit
Budget
Financial Statement
The system of recording and reporting financial activity and…
A formal examination of a company's financial records for acc…
A plan that shows what expect to earn and spend in a certain…
A written report which describe the financial health of a com…
Accounting
The system of recording and reporting financial activity and…
Audit
A formal examination of a company's financial records for acc…
Finance & Accounting
Interest Formula
rule of 72
importance of compounding
5 types of loans
Amount(Principle)Ratetime=interest... small amounts add up bec…
how long it takes to double your money... divide 72 by interest…
the more often interest is compounded the more interest you w…
auto... college... business... personal... home(mortgage/home equity)
Interest Formula
Amount(Principle)Ratetime=interest... small amounts add up bec…
rule of 72
how long it takes to double your money... divide 72 by interest…
8 terms
Accounting / Finance
Balance Sheet
Income Statement
Statement of Stockholder's equity
Statement of cash flows
A sheet that displays the resources a company owns, and the s…
Reports a company's ability to sell goods at a profitable mar…
Reports additional income/losses dealing with investors and s…
Reports cash and how it was used, done at the end of a term.
Balance Sheet
A sheet that displays the resources a company owns, and the s…
Income Statement
Reports a company's ability to sell goods at a profitable mar…
13 terms
Accounting & Finance
Accounting Entity
Going Concern
Measurement
Units if Measure
The business unit (regardless of the legal business form) for…
Unless there is evidence to the contrary, accountants assume…
Accounting deals with things that can be quantified- resource…
U.S. dollars are the units of value reported in the financial…
Accounting Entity
The business unit (regardless of the legal business form) for…
Going Concern
Unless there is evidence to the contrary, accountants assume…
23 terms
Finance Accounting
4 basic financial statements
Structure of the statements
Balance sheets
Basic accounting equation
balance sheet, income statement, statements of stockholders e…
heading (name of entity, title of statement, date, unit of me…
amount of assets, liabilities and stockholder equity at a giv…
liabilities+ stockholder equity= assets
4 basic financial statements
balance sheet, income statement, statements of stockholders e…
Structure of the statements
heading (name of entity, title of statement, date, unit of me…
20 terms
Accounting & Finance
Accounting
Audit
Budget
Financial Statements
the system of recording and reporting financial activity and…
a formal examination of a company's financial records for acc…
a plan that shows what you expect to earn and spend in a cert…
a written report which describes the financial health of a co…
Accounting
the system of recording and reporting financial activity and…
Audit
a formal examination of a company's financial records for acc…
Finance Accounting
Depreciation Expense
Cash
Long-Term Debt
Sales
Income statement
Asset
Liability
Income Statement
Depreciation Expense
Income statement
Cash
Asset
Accounting & Finance
Accounting
Accounting System
Accounting Records
Financial Statements
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities.
Financial reports that summarize the financial statement's co…
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
37 terms
Finance + Accounting
Net Present Value- NPV
Internal Rate of Return - IRR (a.k.a D…
Risk Premium
Capital Asset Pricing Model
(Capital Budgeting Method) NPV compares the value of a dollar…
(Capital Budgeting Method) rate of return used in capital bud…
(Investments) one way to measure the risk you'd take in buyin…
a model that attempts to describe the relationship between th…
Net Present Value- NPV
(Capital Budgeting Method) NPV compares the value of a dollar…
Internal Rate of Return - IRR (a.k.a D…
(Capital Budgeting Method) rate of return used in capital bud…
60 terms
Finance & Accounting
Number of days of inventory
Inventory
Cost of Goods Sold
Number of days of receivables
Inventory/(COGS/365)
...
...
accounts receivable/(sales on credit/365)
Number of days of inventory
Inventory/(COGS/365)
Inventory
...
Accounting & Finance
Historical Cost
Accounting assumptions
Accounting Entity Assumption
Application of Accounting Entity Assum…
Assets & liabilities are recorded at the amount paid or the v…
Practical subjects supported by theory. Eg. A set of beliefs…
The business is a seperate legal entity to the owner(s). Eg.…
When bankrupt or not enough money to pay the depts
Historical Cost
Assets & liabilities are recorded at the amount paid or the v…
Accounting assumptions
Practical subjects supported by theory. Eg. A set of beliefs…
Accounting & Finance
Accounting
Audit
Budget
Financial Statements
The system of recording and reporting financial activity and…
A formal examination of a company's financial records for acc…
A plan that shows what you expect to earn and spend in a cert…
A written report which describes the financial health of a co…
Accounting
The system of recording and reporting financial activity and…
Audit
A formal examination of a company's financial records for acc…
Accounting - Finance
What are 5 internal decisions that use…
What are 2 external parties that view…
What type of accounting looks backward…
What type of accounting looks forward,…
Short-term planning... Long-term planning... Controlling routine op…
Investors... Banks
Financial accounting
Managerial accounting
What are 5 internal decisions that use…
Short-term planning... Long-term planning... Controlling routine op…
What are 2 external parties that view…
Investors... Banks
Accounting/Finance
Reserve Requirement
Discount Rate
Federal Funds Rate
Open Market Operations
Percentage of deposits that a bank must hold in cash or on de…
The interest rate at which member banks can borrow money from…
Key rate; interest rate at which commercial banks lend reserv…
Sale and purchase of securities by the Fed (treasury securiti…
Reserve Requirement
Percentage of deposits that a bank must hold in cash or on de…
Discount Rate
The interest rate at which member banks can borrow money from…
27 terms
Finance & Accounting
Capital expenditure
Revenue expenditure
Assets
Retained profit
These are funds that a company uses in order to get or acquir…
Money spent by a company to fund activities which are related…
Resource that company/country/individual controls and has an…
Profits made by a company which are not distributed between t…
Capital expenditure
These are funds that a company uses in order to get or acquir…
Revenue expenditure
Money spent by a company to fund activities which are related…
16 terms
Accounting/Finance
Accumulated Earnings
Commission
Deduction
Net Pay
profits are a company's net profits after deducting distribut…
an order for someone to do something and get paid
the action of deducting or subtracting something
Gross wages or gross salaries minus withholdings for payroll…
Accumulated Earnings
profits are a company's net profits after deducting distribut…
Commission
an order for someone to do something and get paid
Accounting & Finance
risk
systematic risk
unsystematic risk
interest rate
the probability that the actual return on an investment will…
associated with economic, political, and sociological changes…
unique to an individual, form, or industry. Based on manageme…
based on a combination of systematic and unsystematic risk fa…
risk
the probability that the actual return on an investment will…
systematic risk
associated with economic, political, and sociological changes…
24 terms
Accounting & Finance
Deferred
time-series analysis
cross-sectional analysis
Assurance Opinion
postponed or delayed
A statistical approach that relies heavily on historical dema…
A type of analysis that helps identify similarities and diffe…
Opinions on the effectiveness of the internal control system…
Deferred
postponed or delayed
time-series analysis
A statistical approach that relies heavily on historical dema…
34 terms
Accounting & Finance
Accounting
Bookkeeping
Accounting Cycle
Journal
Recording, classifying, summarizing, interpreting financial e…
Recording of business transactions, put in journals/ledgers
Analyze Source Documents > Record items in journal > Post to…
Record book where accounting data is entered
Accounting
Recording, classifying, summarizing, interpreting financial e…
Bookkeeping
Recording of business transactions, put in journals/ledgers
22 terms
Accounting and Finance
Accounting
Accounting Equation
Assets
Liabilities
Method of reporting financial activity of a business and Fina…
Assets = Liabilities + Owner's Equity
Anything of Value owned by the Business
Money owed by the business
Accounting
Method of reporting financial activity of a business and Fina…
Accounting Equation
Assets = Liabilities + Owner's Equity
296 terms
Finance and accounting
retail banking
corporate banking
invest banking
personal/consumer banking
bankowość detaliczna
bankowość przedsiębiorstw
bankowość inwestycyjna
bankowość osobista
retail banking
bankowość detaliczna
corporate banking
bankowość przedsiębiorstw
Accounting and Finance
assets
managerial accounting
past, future
managerial accounting
company's resources
made up of detailed reports of secret data that helps people…
accounting uses the __________ to help us make decisions in t…
type of accounting that helps a company decide how to handle…
assets
company's resources
managerial accounting
made up of detailed reports of secret data that helps people…
26 terms
Finance and Accounting
Capital Expenditure
Revenue Expenditure
Internal Sources of Finance
External Sources of Finance
long term expenses and purchase such as equipment
everyday purchases or expenses such as materials
personal funds, family and friends, retained profits
share capital, loans, donations, government grants
Capital Expenditure
long term expenses and purchase such as equipment
Revenue Expenditure
everyday purchases or expenses such as materials
Accounting and finance
Accounting
Accounting Equation
Assets
Examples of Assets
The method of reporting and recording financial activity of a…
Assets= liabilities +owners equity
Anything of value owned by the business
cash (accounts receivable)... office furniture , equipment and s…
Accounting
The method of reporting and recording financial activity of a…
Accounting Equation
Assets= liabilities +owners equity
Accounting and Finance
Accounting System
Accounting Definition
Accounting System Process
Documenting Events
An accounting system produces information that is used by sta…
A system of recording and processing business events and repo…
Documenting events --> Recording events --> Processing events…
Hundreds of events may take place everyday in a business. Eg,…
Accounting System
An accounting system produces information that is used by sta…
Accounting Definition
A system of recording and processing business events and repo…
Finance and Accounting
accounting
accounting systems
accounting system
bookkeeping
the recording, classifying, summarizing, and interpreting fin…
The methods used for recording, classifying, summarizing, and…
The two primary goals of the ______ ______ are to provide inf…
recording of business transactions is called bookkeeping
accounting
the recording, classifying, summarizing, and interpreting fin…
accounting systems
The methods used for recording, classifying, summarizing, and…
91 terms
Finance and Accounting
current assets
marketable securities
merchandise inventory
fixed assets
includes cash, assets convertible to cash w/i ONE year
less liquid, can be sold quickly
nonliquid asset, inventory has not been counted into revenue
long term use/value; ie land, buildings
current assets
includes cash, assets convertible to cash w/i ONE year
marketable securities
less liquid, can be sold quickly
1 of 10