Relier Pairs Accounting Financial TermsVersion en ligne Vocab Review par Sylvia Duran 1 income statement 2 fixed costs 3 GAAP 4 accounting 5 liabilities 6 financial accounting 7 FASB 8 statement of cash flows 9 horizontal analysis 10 activity based costing 11 balance sheet 12 assets 13 owner's equity the branch of accounting that prepares financial statements for use by owners, creditors, suppliers, and other external stakeholders a system for recognizing, organizing, analyzing, and reporting information about the financial transactions that affect an organization the financial statement that identifies a firm's sources and uses of cash in a given accounting period costs that remain the same when the level of production changes within some relevant range a technique to assign product costs based on links between activities that drive costs and the production of specific products the claims a firm's owners have against their company's assets claims that outsiders have against a firm's assets resources owned by a firm Financial Accounting Standards Board analysis of financial statements that compares account values reported on these statements over two or more years to identify changes and trends the financial statement that reports the revenues, expenses, and net income that resulted from a firm's operations over an accounting period a financial statement that reports the financial position of a firm by identifying and reporting the value of the firm's assets. liabilities, and owner's equity generally accepted accounting principles
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