Relier Pairs Accounting Financial TermsVersion en ligne Vocab Review par Sylvia Duran 1 income statement 2 activity based costing 3 balance sheet 4 financial accounting 5 horizontal analysis 6 assets 7 fixed costs 8 owner's equity 9 statement of cash flows 10 accounting 11 GAAP 12 FASB 13 liabilities Financial Accounting Standards Board 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 resources owned by a firm costs that remain the same when the level of production changes within some relevant range 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 analysis of financial statements that compares account values reported on these statements over two or more years to identify changes and trends claims that outsiders have against a firm's assets the financial statement that reports the revenues, expenses, and net income that resulted from a firm's operations over an accounting period the branch of accounting that prepares financial statements for use by owners, creditors, suppliers, and other external stakeholders 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
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