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Accounting
Vocabulary terms for Chapter 1: You and the World of Accounting
13
Accounting
Undergraduate 1
09/14/2017

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Term
Accountant
Definition
handles a broad range of responsibilities, makes business decisions, and prepares and interprets financial reports
Term
Accounting Clerk
Definition
an entry-level job that can vary from spe- cializing in one part of the system to doing a wide range of tasks.
Term
Audit
Definition
review of a company’s accounting systems and financial statements to confirm that they follow
generally accepted accounting principles.
Term
Certified Public Accountant (CPA)
Definition
an accountant who has met certain education and experience requirements and passed a national test. Like doctors and lawyers, CPAs are licensed by the states.
Term
For-profit Business
Definition
operate to earn money for their owners.
Term
Lifestyle
Definition
the way you use your time, energy, and resources.
Term
Networking
Definition
making contacts with people to share infor- mation and advice.
Term
not-for-profit organization
Definition
operate for purposes other than making a profit.
Term
Personal Interest Test
Definition
tests which help you identify your preferences.
Term
Personallity
Definition
a set of unique qualities that makes us different from all other people.
Term
Public Accounting Firm
Definition
provide clients a variety of accounting services including the independent audit.
Term
Skills
Definition
Skills are activities that you do well.
Term
Values
Definition
the principles you live by and the beliefs that are important to you.
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