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Bookkeeping Terms

This class was created by Brainscape user Tressy Meschefske. Visit their profile to learn more about the creator.

By: Tressy Meschefske
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Decks in this class (5)

Current Accounting Terms
Money a business owes to others f...,
Money that is owed to a business ...,
An entry to record a future reven...
76  cards
The Accounting Cycle Steps 1-2
Fist step in the accounting cycle,
Second step in the accounting cycle,
All 6 steps in accounting cycle i...
60  cards
Acronyms - Not Terms - Other Agencies
What does gaap stand for,
Why is gaap important,
What accounting method is require...
5  cards
3 principles for understanding how revenues & expenses are reported in financial statements
Accrual method,
In accrual accounting the revenue...,
The matching principle ensures_____
12  cards
Reconciling Transactions in Double-Entry bookkeeping
Step 4 in reconciliation,
Step 4 in reconciliation reconcil...,
Step 3 in reconciliation check fo...
14  cards

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Bookkeeping Terms

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