Accounting

Accounting System

Annual Report

Form 10K

Balance Sheet

Assets

Liabilities

Note Payable

Owner's Equity

Net Assets

Long-Lived Asset

Account

Inventory

Open Account

Account Payable

Compound Entry

Creditor

Sole Proprietership

Partnership

Corporation

LLC

Privately Owned

Stock Certificate

Stockholders' Equity

Paid-In Capital

Paid-In Capital in Excess of Par Value

Common Stockholders

Board of Directors

GAAP

US GAAP Oversight

FASB

IFRS

IASB

Auditor

Public Accountants

CPA

Who can issue official opinions on financial statements?

AICPA

IAASB

PCAOB

Sarbanes-Oxley Act

GAAS

GASB

Operating Cycle

Fiscal Year

Revenue

Expense

Income

Retained Income

Accounts Receivable

Cost of Goods Sold

Accrual Accounting

Cash Accounting

Matching

Product Costs

Period Costs

Depreciation

Income Statement

Net Income

Net loss

Cash Dividends

Statement of Stockholders' Equity

3 steps to a cash dividend

Accumulated Deficit

EPS

P-E Ratio

Dividend-Yield

Divident-Payout