Matching Pairs Accounting Financial TermsOnline version Vocab Review by Sylvia Duran 1 balance sheet 2 GAAP 3 liabilities 4 FASB 5 accounting 6 activity based costing 7 horizontal analysis 8 fixed costs 9 owner's equity 10 financial accounting 11 statement of cash flows 12 assets 13 income statement generally accepted accounting principles the financial statement that identifies a firm's sources and uses of cash in a given accounting period analysis of financial statements that compares account values reported on these statements over two or more years to identify changes and trends Financial Accounting Standards Board a system for recognizing, organizing, analyzing, and reporting information about the financial transactions that affect an organization costs that remain the same when the level of production changes within some relevant range the branch of accounting that prepares financial statements for use by owners, creditors, suppliers, and other external stakeholders claims that outsiders have against a firm's assets a technique to assign product costs based on links between activities that drive costs and the production of specific products the financial statement that reports the revenues, expenses, and net income that resulted from a firm's operations over an accounting period a financial statement that reports the financial position of a firm by identifying and reporting the value of the firm's assets. liabilities, and owner's equity resources owned by a firm the claims a firm's owners have against their company's assets
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