Glossary

Glossary

Accounting and information system for the measurement and reporting of the transformation of resources into goods and services in the sale or transfer of these goods and services to customers

Audit a detailed systematic investigation of the company's accounting records and procedures for the purpose of determining the reliability of financial reports

Business organization organizations that sell their goods and services to make a profit

Contracts legal agreements for the exchange of resources and services

Corporation a legal entity with the right to enter into contracts, the right to own, by, and sell property, and the right to sell stock

Creditor a person or organization whose loans financial resources to an organization

Effective business in organization is successful providing goods and services demanded by his customers

Efficient business in organization that keeps the cost of resources consumed in providing goods and services low relative to the selling prices of these goods and services

Financial accounting process of preparing, 40, and interpreting accounting information that is provided to external decision makers

Generally accepted accounting principles GAAP standards developed by professional accounting organizations to identify appropriate accounting and reporting procedures

Government and nonprofit organizations organizations that provide goods, more typically, services without the intent of making a profit

Information fax, ideals, and concepts that help us understand the world

Management accounting management accounting the process of preparing, reporting, and interpreting accounting information for you used by an organization's internal decision-makers

Managerial accounting

Manufacturing companies organizations that produce goods that they sell to customers, to merchandising, or to other manufacturing company

Market any location or process that permits resources to be bought and sold

Merchandising company- organizations that...