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9 Cards in this Set
- Front
- Back
Accounting |
A system for recognizing, organizing, analyzing and reporting information |
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GAAP |
A set of accounting standards used in financial statments |
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FASB |
The private board that establishes the generally accepted accounting principles |
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Income statement |
The financial statement that reports |
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Balance sheet |
The financial system that reports the financial position of a firm |
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Budgeting |
A management tool |
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Statement of cash flow |
The financial statement that identifys a firms sources |
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Fixed cost |
Costs that remain the same |
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Variable cost |
Costs that variety directly |