Term
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Definition
| An individual accounting record of increases and decreases in specific asset, liability, stockholders' equity, revenue or expense items. |
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Term
| Accounting information system |
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Definition
| The system of collecting and processing transaction data and communicating financial information to decision-makers. |
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Term
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Definition
| Events that require recording in the financial statements because they affect assets, liabilities, or stockholders' equity. |
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Term
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Definition
| A list of a company's accounts. |
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Term
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Definition
| The right side of an account. |
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Term
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Definition
| The left side of an account. |
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Term
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Definition
| A system that records the two-sided effect of each transaction in appropriate accounts. |
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Term
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Definition
| The most basic form of journal. |
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Term
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Definition
| A ledger that contains all asset, liability, stockholders' equity, revenue, and expense accounts. |
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Term
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Definition
| An accounting record in which transactions are initially recorded in chronological order. |
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Term
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Definition
| The procedure of entering transaction data in the journal. |
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Term
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Definition
| The group of accounts maintained by a company. |
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Term
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Definition
| The procedure of transferring journal entry amounts to the ledger accounts. |
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Term
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Definition
| The basic form of an account. |
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Term
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Definition
| A list of accounts and their balances at a given time. |
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