Terminology Matching Continued FASB Comparability Verifiable Consistency Free Cash Flow Chart of Accounts Double-Entry System Posting General Ledger Journal An accounting record in which transactions are initially recorded in chronological order A system that records the 2-sided effect of each transaction in appropriate accounts Independent observers, using the same methods, obtain similar results Contains all assets, liabilities, stockholder's equity, revenue, and expense accounts Organization that uses the same accounting principles and methods from year to year The procedure of transferring journal entry amounts to the ledger accounts Net cash provided by operating activities after adjusting for capital expenditures and cash dividends paid Results when different organizations use the same accounting principles Primary accounting standard-setting body for the U.S. A list of names of an organizations accounts
Terminology Matching Continued FASB Comparability Verifiable Consistency Free Cash Flow Chart of Accounts Double-Entry System Posting General Ledger Journal An accounting record in which transactions are initially recorded in chronological order A system that records the 2-sided effect of each transaction in appropriate accounts Independent observers, using the same methods, obtain similar results Contains all assets, liabilities, stockholder's equity, revenue, and expense accounts Organization that uses the same accounting principles and methods from year to year The procedure of transferring journal entry amounts to the ledger accounts Net cash provided by operating activities after adjusting for capital expenditures and cash dividends paid Results when different organizations use the same accounting principles Primary accounting standard-setting body for the U.S. A list of names of an organizations accounts
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:=HCS/380: Week 1 - Terminology X
Terminology Matching Continued
FASB
Comparability
Verifiable
Consistency
Free Cash Flow
Chart of Accounts
Double-Entry System
Posting
General Ledger
Journal
hp
An accounting record in which transactions are initially
recorded in chronological order
A system that records the 2-sided effect of each transaction
in appropriate accounts
Independent observers, using the same ods,
similar results
Contains all assets, liabilities, stockholder's equity, revenue,
and expense accounts
Organization that uses the same accounting principles and
methods from year to year
The procedure of transferring journal entry amounts to the
ledger accounts
Net cash provided by operating activities after adjusting for
capital expenditures and cash dividends paid
Results when different organizations use the same
accounting principles
Primary accounting standard-setting body for the U.S.
A list of names of an organizations accounts
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