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accounting notes
lesson 1.1
8
Accounting
10th Grade
09/14/2006
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Term
accounting
 Definition
planning, recording, analyzing and interpeting finacial data
Term
accounting system
 Definition
planned process provinding information that's useful in managment
Term
accounting records
 Definition
organized summaries of business activities
Term
service
 Definition
activity for a fee
Term
proprietorship
 Definition
owned by one
Term
asset
 Definition
anything of value thats owned
Term
equities
 Definition
finacial rights to the assets of a business
Term
owners equity
 Definition
ammount left after subtracting liabilities from assets
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