| Terms |
Definitions |
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sub
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under, below
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Ledger
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a group of accounts
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Another name for stockholder
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Shareholder
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Equity
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(owner's capital)claim of its owner(s)
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financial accounting
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accounting for revenue, expense, assets, liabilities - recording classifying, and summarizing
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working capital
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current assets - current liabilities measure of liquidity
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Kaizen's TWO subcycles
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Kaizen Cycle, Maintenance cycle
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* The first step in the prevention of transmission of microbes from instruments to patients is _________________.
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decontamination
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treasury stock
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repurchase of company's capital stock that has not been retired shown as reduction of RE
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reliability
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relates to the confidence users have that the financial information is reasonably free from bias and error
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Dictionary Attack
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Using special software to guess company addresses and send them blank e-mail messages.
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Overhead variance
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Difference between actual overhead and applied overhead
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Expense
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decrease retained earnings and are the cost of assets or services used to earn revenues
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Expenses
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The cost of assets consumed or services used in the process of earning revenue.
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budgeting games
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attempts by managers to manipulate late information to have targets set lower so they are more easily achieved
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Acid Test Ratio (Quick Ratio)
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*Selected Current Assets/Current Liabilities*Numerator is usually just cash and AR * > 1 to 1 is a liquid company
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1. Account payable
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liability backed by the general reputation and credit standing of the debtor
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FASB staff positions
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Historically, the FASB staff has issued Staff Implementation Guides on specific topics.
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Unit Costs (Equation)
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(Total cost) / (# units produced)
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Consistency
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The quality that allows a user to compare two or more accounting periods for a single company.
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Where is Under/Overapplied Overhead allocated to?
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Cost of Goods Sold
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Preformatted Screens
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: a computer screen designed to control the entry of data by defining the acceptable format of each data field, automatically moving to the next field, requiring that certain fields are completed, and/or automatically by populating fields.Simplifying data input
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Controlling Account
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an account in a general ledger that summarizes all accounts in a subsidiary ledger
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17. Financial accounting
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branch of accounting that focuses on information for people outside the firm.
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application service provider (ASP)
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a company that provides software, support, and the computer hardware on which to run the software from the user's facilities.
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Cost Object
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any item for which costs are measured and assigned such as products, customers, departments, and regions
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Relations
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The tables used to store data in a relational database.
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Holds that the entity will remain in operation for the foreseeable future
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Going-concern concept
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accounts receivable
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a claim against a debtor, carried on open account, usually limited to debts due from the sale of goods and services.
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Variable Rate for High-Low Method
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High Cost - Low CostHigh Output- Low Output
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what does the purchase of treasury stock do to the accounts...
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decreases assets and equity
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Check Digit Verification
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: involves the inclusion of an extra digit—a check digit—in the identification number of entities such as customers and vendors. More than likely, you have a check digit as part of the ID on your ATM card. *The digit 6 might be appended to the customer code123 so the entire ID becomes 1236
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graphical user interface (GUI)
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an interface that uses icons and menus displayed on screen to send commands to the computer system.
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Bacteria can be killed by a) suppression of the mechanism for removal of the bacteria's waste.b) destruction of the cell membrane.c) isolation from oxygen. Which is the correct answer?
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b) Destruction of the cell membrane
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31. Owner's equity
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claim of an owner to the assets of the business. Also called shareholders' or stockholders' equity.
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How do changes in current assets get added into the stmt of cash flows
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-subtract increases in current assets+add decreases in current assets+add increases in current liabilities-subtract decreases in current liabilities
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What is the assumption of the sum-of-the-year's-digits method?
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depreciation occurs the most when the asset is the most new
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