 |
Financial Accounting Terms Dictionary |
| U.S. GAAP-Codification | IFRS International Standards | Accounting Textbooks |
|
Financial Accounting
Terms |
Financial Accounting Terms: Definitions and
Examples |
|
|
|
Accounting Cycle Recording process of accounting transactions Accounting journal entry Petty Cash Journal Entries Accounting journal Ledger General ledger Subsidiary ledger Posting of accounting transactions Chart of accounts Real accounts Nominal accounts Permanent accounts Temporary accounts Closing journal entries Adjusting journal entries Trial balance Financial statements Balance sheet Income statement |
|
Accounting Equation Debit Credit Assets Liabilities Equity Revenue Expenses |
|
Accrual Basis Accounting Cash basis accounting Accrued expenses Deferred expenses Accrued revenue Deferred revenue |
|
Accounts
Receivable |
|
Balance Sheet Statement of financial position Current assets Noncurrent assts Current liabilities Noncurrent liabilities Stockholders' equity |
|
Bank Reconciliation |
|
|
|
|
|
Contingent Liabilities Loss contingencies Gain contingencies |
|
Deferred Taxes Deferred tax assets Deferred tax liabilities |
|
Depreciation Straight-line depreciation method Declining-balance depreciation method Sum-of-the-years'-digits depreciation method Output based depreciation method Depletion Amortization |
|
Derivatives and Hedging Financial derivatives Fair value hedges Cash flow hedges Foreign currency hedges Hedges of investments in foreign operations |
|
Discontinued operations Assets held for sale |
|
Earning per Share (EPS) Basic earnings per share Diluted earnings per share If-converted method Treasury stock method |
|
|
|
|
|
Foreign Currency Exchange rate Translation of financial statements |
|
Users of Accounting Information |
|
Financial Accounting Terms: Definitions and
Examples |
|
Impairment of Assets Impairment of goodwill Impairment of a loan |
|
Income Statement Multiple-step income statement Gross profit Selling, general and administrative expenses Operating income Non-operating income Non-operating expenses Income from continuing operations Discontinued operations Extraordinary items Income taxes expense Deferred income taxes Net income Comprehensive income Other comprehensive income |
|
|
|
|
|
Inventory Goods in transit Consigned goods First-in First out, FIFO Last-in First out, LIFO Weighted average cost method Dollar value LIFO Gross profit method Retail inventory method Perpetual inventory system Periodic inventory system |
|
|
|
Investments - Equity Method |
|
Investments in Subsidiaries |
|
|
|
Financial Accounting Terms: Definitions and
Examples |
|
Long-term Liabilities Bonds payable Discount on bonds payable Premium on bonds payable Amortization of discount Amortization of premium Effective interest method |
|
Pension Projected benefit obligation (PBO) Accumulated benefit obligation (ABO) Net pension cost Service cost Prior service cost Plan assets Actuarial gains and losses |
|
Property, plant and equipment Capital expenditure Revenue expenditure Capitalization of interest costs Nonmonetary asset exchange Disposal of assets |
|
Receivables Accounts receivable Notes receivable Imputation of interest Allowance for doubtful accounts Bad debts expense Transfer of receivables Pledging Assignment Factoring |
|
Research and Development Expenditures Advertising costs Software development costs |
|
Revenue Recognition Multiple element revenue arrangements Construction contracts Percentage of completion method Completed contract method Installment sales method Software revenue recognition |
|
|
|
|
|
Statement of Cash Flows Cash provided by (used for) operating activities Cash provided by (used for) investing activities Cash provided by (used for) financing activities Direct method Indirect method Non-cash revenue and expenses |
|
|
|
|
|
U.S. GAAP by Topic |
|
Accounting Topics |
| Copyright © 1999-2010 by AccountingStudy.com.TM All Rights Reserved. |
|
|