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A pasapalabra game

Created by

María Victoria Valbosa
María Victoria Valbosa
Spain

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Pasapalabra orange teamOnline version

A pasapalabra game

by María Victoria Valbosa
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Starts with A

Resources controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise

Starts with B

A financial statement that shows a company's assets, liabilities, and equity at a specific date

Starts with C

One of the four enhancing qualitative characteristics that make financial information useful. Companies record and report information in a similar manner

Starts with D

The process of allocating the cost of a tangible asset over its useful life due to wear and tear or obsolescence

Starts with E

o form an approximate judgment or opinion regarding the worth, amount, size, weight, etc., of; calculate approximately. It is why financial reports information

Starts with F

A structure of concepts that provides the basis for the preparation and presentation of financial statements, guiding the development of standards and ensuring consistency and coherency in financial reporting

Starts with G

Assumption that the company will continue in business for the foreseeable future

Starts with H

A strategy to reduce the risk of loss caused by market fluctuations to retain more of a portfolio’s value

Starts with I

Which organization sets International Financial Reporting Standards?

Starts with J

The process of making informed decisions by applying professional expertise and experience when selecting accounting methods and estimates, which may vary among preparers and requires standards to ensure consistency

Starts with L

The ease with which an asset can be sold at its market value. Cash is considered the one that has the most

Starts with M

The action of measuring something. One of the barriers to creating a coherent framework

Starts with N

Part of faithful representation

Starts with O

Any transaction undertaken by a company in the ordinary course of business aimed at earning profit

Starts with P

Includes income, expenses, capital maintenance adjustments, past cash flows

Starts with Q

The attributes that make financial information useful to users by ensuring it is relevant and faithfully represents economic phenomena; including enhancing traits like comparability, verifiability, timeliness, and understandability

Starts with R

An increase in economic benefits, usually from normal business activities

Starts with S

The financial report that summarizes all cash inflows and our flows for a period

Starts with T

A quality of financial information that means it is provided quickly enough to influence decisions

Starts with U

Provide financial information about the reporting entity that is ___ to existing and potential investors, lenders, and other creditors in making decisions about providing resources to the entity

Starts with V

One of the four enhancing qualitative characteristics that make financial information useful. Independent people using the same methods arrive at similar conclusions

Contains X

Contains x: Performance element in the framework (alongside income)

Starts with Y

The expected rate of return of an investment.

Starts with Z

The value assigned to an asset at the end of its useful life, after accumulated depreciation

Starts with K

Metrics used to evaluate the success and performance of a company in achieving strategic objectives

Starts with W

The difference between current assets and current liabilities, indicating the short-term liquidity of the company

 
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