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Criado por Stephanie Spearman
quase 2 anos atrás
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Questão | Responda |
accounting cycle | series of accounting activities that a business performs each accounting period |
chart of accounts | list of all accounts used to accumulate information about assets, liabilities, owners' equity, revenues and expenses |
transactions | record transactions with customers, vendors, employees and owners |
trial balance | also referred to as an unadjusted trail balance because it is prepared before adjustments |
adjustments | at the end of the accounting period before preparing financial statements, make any adjustments necessary to bring the accounts up to date |
adjusted trial balance | verifies the accounting system still balances |
financial reports | financial statements for external users and internal users |
business overview | reports include financial statements |
who owes you | reports are used to track amounts that customers owe your business including a/r, aging reports, collections reports and open invoices |
sales and customers | reports provided detailed information about customers and sales transactions |
what you owe | reports are used to track amounts that your business owes others |
expenses and vendors reports | provides detailed information about vendors and expenses transactions |
sales tax reports | includes reports about sales tax liabilities and taxable sales |
employees report | includes the employees list and time activities reports |
for my accountant report | reports that include the account list, general ledger, journal and trial balance |
payroll reports | same reports as the employee reports |
profit and loss statements | lists sales and expense for a specified accounting period |
cash basis | sale is recorded when cash is collected from the customer; expenses are recorded when cash is paid |
accrual basis | sales are recorded when the good or service is provided regardless of when he cash is collected from the customer; expenses are recorded when he cost is incurred or expires, even if the expense has not been paid |
assets | what a company owns |
liabilities | what a company owes |
owners equity | residual that is left after liabilities are satisfied |
statement of cash flows | summarizes cash inflows and cash outflows for a business over a period of time |
cash flows | from: operating activities investing activities financing activities |
management reports | prepared as needed to provide management with information for making operating and business decisions |
sales and customers reports | provide detailed information about customers and sales transactions |
physical inventory worksheet | used when taking a physical count of inventory |
open purchase order | are purchase orders for items ordered but not yet received |
purchases by vendor | report list all purchases, grouped by vendor |
audit log feature | permits us to track all changes made to our QBO records |
tags | electronic labels |
financial statements | reports used by investors, owners and creditors to make decisions |
tax forms | provide information to federal and state tax authorities |
management reports | used by internal users to make decisions regarding company operations |
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