Exam (elaborations)
Solution Manual for Financial Accounting for Managers
- Course
- Institution
- Book
Solution Manual for Financial Accounting for Managers
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Solution manual for financial accounting 13th edition by thomas tietz
-
Solution Manual for Financial Accounting for Managers
-
Solution Manual for Financial Accounting for Managers
Seller
Follow
kushboopatel6867
Reviews received
Content preview
Solution Manual for Financial Accounting for Managers1st Edition By Thomas, Spiceland, Nelson
Accounting - ANSWER: Recording, classifying, summarizing, and interpreting of
financial events to provide management and other interested parties the financial
information they need to make good decisions
Managerial accounting - ANSWER: Provides info and analyses to managers inside the
organization to assist them in decision making
Financial accounting - ANSWER: Accounting info and analyses prepared for people
outside of the organization
Compliance - ANSWER: Job of reviewing and evaluating the records used to prepare
a company's financial statements
Forensic accounting - ANSWER: focuses its attention on fraudulent activity
Tax accounting - ANSWER: Accountant trained in tax law and responsible for
preparing tax returns and developing tax strategies
Private accountant - ANSWER: Accountant who works for a single firm, government,
agency or non profit organization
Public accountant - ANSWER: Accountant who provides his or her accounting
services to individuals or businesses on a fee basis
Government and not for profit accounting - ANSWER: Supports organizations whose
purpose is not generating a profit but rather serving rate payers, tax payers and
others according to a duly approved budget
Chartered accountant - ANSWER: An accountant who has met the examination,
education, and experience requirements of the Canadian institute of chartered
accountants
Certified management accountant - ANSWER: Accountant who has met the
examination, education and experience requirements of the society of management
accountants of Canada
Certified general accountant - ANSWER: Accountant who has met the examination,
education and experience requirements of the certified general accountants
association of Canada
Accounting cycle - ANSWER: Six step procedure that results in the preparation and
analysis of the major financial statements
, Bookkeeping - ANSWER: Recording of business transactions
Journal - ANSWER: Record book where accounting data are first entered
Fundamental accounting equation - ANSWER: Assets are equal to liabilities plus
owners equity
Ledger - ANSWER: Specialized accounting book where info from journals is
accumulated to accounts and posted so that managers can find all info about one
specific account in one place
Trial balance - ANSWER: Summary of all the data in the account ledgers to show
whether the figures are correct and balanced
Financial statement - ANSWER: Summary of all the transactions that have occurred
over a particular period
Balance sheet - ANSWER: Financial statement that reports a firms financial condition
at a specific time
Assets - ANSWER: Economic resources owned by a firm
Liquidity - ANSWER: How fast an asset can be turned to cash
Current assets - ANSWER: Items that can or will be converted into cash within a year
Capital assets - ANSWER: Assets that are relatively permanent, land building or
equipment
Intangible assets - ANSWER: Long term assets
Liabilities - ANSWER: What the business owes to others
Accounts payable - ANSWER: Bills a company owes to others
Notes payable - ANSWER: Short term or long term liabilities that a business promises
to repay by a certain date
Bonds payable - ANSWER: Long term liabilities that represents money lent to a firm
Owners equity - ANSWER: Amount of the business that belongs to the owners minus
any liabilities owned by the business
Retained earnings - ANSWER: Accumulated earnings from a firms profitable
operations
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kushboopatel6867. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76799 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now