Lunes, Pebrero 27, 2017








Ten Terms Related to ABM Strand
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Accounting


Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business, and it also refers to the process of summarizing, analyzing and reporting these transactions to oversight agencies and tax collection entities.










The accounting cycle is the name given to the collective process of recording and processing theaccounting events of a company. The series of steps begin when a transaction occurs and end with its inclusion in the financial statements.






Formal record that represents, in words, money or other unit of measurement, certain resources, claims to such resources, transactions or other events that result in changes to those resources and claims.


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Person skilled in the recording and reporting of financial transactions.








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Bookkeeping

The process of recording financial transactions and keeping financial records.






 

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ASSET account on a balance sheet representing paper currency and coins, negotiable money orders and checks, bank balances, and certain short-term government securities.




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CEO

Officer of a firm principally responsible for the activities of a COMPANY.










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Organization engaged in business as a PROPRIETORSHIPPARTNERSHIP,
 CORPORATION, or other form of enterprise.







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Economics 

The study of the ways goods and
 services are produced, transported, sold, and used.





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 Contract 

In general, agreement by which rights 
or acts are exchanged for lawful consideration.