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