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