Relier Pairs Accounting Financial TermsVersion en ligne Vocab Review par Sylvia Duran 1 GAAP 2 assets 3 statement of cash flows 4 accounting 5 owner's equity 6 balance sheet 7 financial accounting 8 activity based costing 9 income statement 10 FASB 11 fixed costs 12 horizontal analysis 13 liabilities resources owned by a firm 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 identifies a firm's sources and uses of cash in a given accounting period 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 the claims a firm's owners have against their company's assets Financial Accounting Standards Board claims that outsiders have against a firm's assets a system for recognizing, organizing, analyzing, and reporting information about the financial transactions that affect an organization the branch of accounting that prepares financial statements for use by owners, creditors, suppliers, and other external stakeholders 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
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