Fichas
Accounting CH1-3
Fichas del conjunto (41)
- 1Accounting systemThe personnel, procedures, devices, and records used by an organization to develop accounting information and communicate that information to decision makers
- 2American Accounting AssociationA professional accounting organization consisting primarily of accounting educators that is dedicated to improving accounting education,research, and practice
- 3American Institute of CPAsA professional accounting organization of certified public accountants that engages in a variety of professional activities including establishing auditing standards for private companies, conducting research, and establishing industry-specific financial reporting standards.
- 4AuditAn investigation of financial statements designed to determine their fairness in relation to generally accepted accounting principles
- 5balance sheetA position statement that shows where the company stands in financial terms at a specific date. (Also called statement of financial position)
- 6bookkeepingthe clerical dimension of accounting that includes recording the routine transactions and day to day record keeping of an enterprise.
- 7cash flow prospectsthe likelihood that an enterprise will be able to provide an investor with both a return on the investor's investment and the return of that investment.
- 8Certified Internal AuditorA professional designation issued by the Institute of Management Accountants signifying expertise in management accounting.
- 9Certified Management AccountantA professional designation issued by the Institute of Management signifying expertise in management accounting
- 10Certified Public AccountantAn accounting who is licensed by a state after meeting rigorous education, experience, and examination requirements.
- 11Committee of Sponsoring Organizations of the Treadway Commission (COSO)A voluntary private-sector organization dedicated to improving the quality of financial reporting through business ethics, effective internal controls, organizational governance and enterprise risk management.
- 12control activitiesPolicies and procedures that management puts in place to address the risks identified during the risk assessment process
- 13control environmentfoundation for all the other elements of internal control setting the overall tone for the organization
- 14corporate governanceIncludes the corporate structures and processes for overseeing a company's affairs for example the board of directors and the company's internal control processes.
- 15external usersIndividuals and other enterprises that have a financial interest in the reporting enterprise but that are not involved in the day to day operations of that enterprise (e.g. owners, creditors, labor unions, suppliers, customers)
- 16financial accountingProviding information about the financial resources, obligations, and activities of an economic entity that is intended for use primarily by external decision makers-investors and creditors
- 17Financial Accounting Standards Boardprivate-sector organization that is responsible for determining generally accepted accounting principles in the United States
- 18financial statementA monetary declaration of what is believed to be true about an enterprise
- 19general-purpose informationInformation that intended to meet the needs of multiple users that have an interest in the financial activities of an enterprise rather than tailored to the specific information needs of one user
- 20generally accepted accounting principles (GAACP)Principles that provide the framework for determining what information is to be included in financial statements and how that information is to be presented.
- 21Government Accountability OfficeA federal government agency that audits many other agencies of the federal government and other organizations that do business with the federal government and reports its findings to Congress.
- 22income statementAn activity statement that shows details and results of the company's profit-related activities for a period of time
- 23information and communicationthe organizations process for capturing operational financial and compliance-related information necessary to run the business and communicating that information downstream (from management to employees), upstream (from employees to management), and across the organization.
- 24Institute of Internal Auditorsprofessional accounting organization that is dedicated to the promotion and development of the practice of internal auditing.
- 25Institute of Management AccountantsA professional accounting organization that intends to influence the concepts and ethical practice of management accounting and financial management.
- 26integrityThe qualities of being complete, unbroken, unimpaired, sound, honest and sincere
- 27internal controlA process designed to provide reasonable assurance that the organization produces reliable financial reports, complies with applicable laws and regulations, and conducts its operations in an efficient and effective manner.
- 28Internal Revenue ServiceA government organization that handles millions of income tax returns filed by individuals and business and performs audit functions to verify the data contained in those returns
- 29internal usersIndividuals who use accounting information from within an organization (directors, chief financial officer, plant managers, store managers)
- 30International Accounting Standards board (IASB)The group responsible for creating and promoting International Financial Reporting Standards (IFRSs).
- 31management accountingProviding information that is intended primarily for use by internal management in decision making required to run the business
- 32monitoringthe process of evaluating the effectiveness of an organization's system of internal control over time including both ongoing management and supervisory activities and periodic separate evaluations
- 33Public Company Accounting Oversight Board (PCAOB)a quasi-governmental body charged with oversight of the public accounting profession. The PCAOB sets auditing standards for audits of publicly traded companies
- 34return of investmentthe repayment to an investor of the amount originally invested in another enterprise
- 35return of investmentthe repayment to an investor of the amount originally invested in another enterprise
- 36return on investmentpayment of an amount (interest, dividends) for using another's money.
- 37risk assessmentProcess of identifying, analyzing, and managing those risks that pose a threat to the achievement of the organization's objectives.
- 38Sarbanes-Oxley ActA landmark piece of securities law, designed to improve the effectiveness of corporate financial reporting through enhanced accountability of auditors, boards of directors and management.
- 39Securities and Exchange Commission (SEC)A governmental organization that has the legal power to establish accounting principles and financial reporting requirements for publicly held companies in the US
- 40statement of cash flowsAn activity statement that shows the details of the company's activities involving cash during a period of time
- 41statement of financial positionAlso called the balance sheet
Información
- Descripción
- Fichas sobre Accounting CH1-3, creado por Nana Nimako el 19/09/2013.
- Creado por
- Nana Nimako
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