Matching Pairs Accounting Financial TermsOnline version Vocab Review by Sylvia Duran 1 accounting 2 GAAP 3 assets 4 FASB 5 owner's equity 6 balance sheet 7 fixed costs 8 financial accounting 9 income statement 10 statement of cash flows 11 liabilities 12 activity based costing 13 horizontal analysis 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 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 system for recognizing, organizing, analyzing, and reporting information about the financial transactions that affect an organization the claims a firm's owners have against their company's assets resources owned by a firm Financial Accounting Standards Board claims that outsiders have against a firm's assets the branch of accounting that prepares financial statements for use by owners, creditors, suppliers, and other external stakeholders costs that remain the same when the level of production changes within some relevant range 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
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