Accounting Terminology
Match the terms on the left with the descriptions on the right. Each description should be used only once.
Term | Description |
__________ Financial accounting | a. Statement of financial position (balance sheet), income statement, statement of cash flows. |
__________ Management accounting | b. The segment of the accounting profession that relates to providing audit, tax, and consulting services to clients. |
__________ Financial reporting | c. The area of accounting that refers to providing information to support external investment and credit decisions. |
__________ Financial statements | d. The procedural aspect of accounting that involves keeping detailed records of business transactions, much of which is done today by computers. |
__________ General-purpose assumption | e. Procedures and processes within an organization that ensure the integrity of accounting information. |
__________ Integrity | f. A broad term that describes all information provided to external users, including but not limited to financial statements. |
__________ Internal control | g. The area of accounting that refers to providing information to support internal management decisions. |
__________ Public accounting | h. The fact that the same information is provided to various external users, including investors and creditors. |
__________ Bookkeeping | i. An important quality of accounting information that allows investors, creditors, management, and other users to rely on the information. |
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