fundamental of accounting Crossword
Type
Crossword
Description

Revenue,expenses and net incom/loss are show on
Credit recorded when a company purchase inventory on credit from vendors or supplies.
A long-term contract to borrow money from a creditor.
Initial investments made by owners like stock purchases or partnership buy-ins.
A creditor's claim on a company' assets.
Miscellaneous assets that are entire in product production that are too small and inexpensive to capitalize.
An asset that arises from selling goods or services to someone on credit.
A subsection of the general field of accounting that focuses on gathering and compiling data in order to present it to external users in a usable form.
Entry on the left side of an account.
A written promise to repay money.
Assets earned by a company's operations and business activities.
Entry on the right side of an account.
A resource that is owned or controlled by a company that can be used to provide a future economic benefit.
The _______ ________ statement summarizes how changes in balance sheet accounts affect the cash account during the accounting period.
The report that shows a company's financial position based on its assets, liabilities, and equity at a single moment in time.
A report that shows the income, expenses, and resulting profits or losses of a company during a specific time period
Accounts listed last on the balance sheet.
He is know as father of accounting
When expenses are greater that revenue you have a?
Money received in advance for services to be performed in the future are reported on the balance sheet as deferred revenues, _________________ revenues, or as customer deposits.
The accounts in this balance sheet classification are credited to increase them
The difference between a sole proprietorship's total assets and its total liabilities is ___________'s equity.
Coins,Currencies,checks,bank deposit this is under of____?
This is represent the unsold goods at the end of the accounting period?
. Amounts owned to other for expenses already incurred but not yet paid??
Liability to pay the bank or other financing institution arising from funds borrowed by the business from these institution payable within twelve or shorter.
assets held by an enterprise for the accretion of wealth
Accepts deposits from people and busniesses and use them to finance their business
Plans incomes and expenses
The _________________ entries come from the worksheet
An example of Revenue is
When you owe money
The fourth step in the accounting cycle is ?
This affects owners equity
The ___________________ entries are done at the end of every month
charge for using money until repaid at a future date
income statement, balance sheet, statement of changes in owner’s equity, and statement of cash flows
In accounting at least ____________ accounts are affected in a transaction
Sales minus expenses
A debt evidenced by a "note" which specifies the principal amount, interest rate and date of repayment
A written cash flow plan

Accounting Terms Word Search

Accounting Terms  Word Search
Type
Word Search
Description

ACCOUNTS RECEIVABLE
ACCOUTING EQUATION
TELEPHONE EXPENSE
ACCOUNTS PAYABLE
PROPRIETORSHIP
BANK OVERDRAFT
CURRENT VALUE
BALANCE SHEET
OWNER EQUITY
EXPENDITURE
COMMISSION
ACCOUNTING
LIABILITY
EQUIPMENT
MORTGAGE
REVENUE
JOURNAL
CAPITAL
ASSET
CASH

Accounting Terms: Back to Basics Crossword

Accounting Terms: Back to Basics Crossword
Type
Crossword
Description

describes the sources and uses of cash for a reporting period
charge for using money until repaid at a future date
security that represents ownership in a corporation; holders exercise control by electing a board of directors and voting on corporate policy
amount by which a company's value exceeds the value of its individual assets and liabilities
class of ownership in a corporation that has a higher claim on its assets and earnings than common stock
net sales minus cost of goods sold
record within an accounting system where increases and decreases in a specific asset, liability, equity, revenue, or expense are entered and stored
process of allocating the cost of an intangible asset to expense over its estimated useful life
an entry that increases asset and expense accounts, and decreases liability, equity ad revenue accounts
income statement, balance sheet, statement of changes in owner’s equity, and statement of cash flows
customers and other individuals and organizations who owe a company
journal entry at the end of an accounting period to bring an asset or liability account to its proper amount and update the related expense or revenue account
total cost of an asset less its accumulated depreciation
an asset created by selling products or services on credit
method to assign cost to inventory that assumes items are sold in the order acquired
entity created by law and separate from its owners
inflows of assets in exchange for products and services provided to customers as part of a company’s operations
length of time an asset will be productively used in the operations of a business
occurs when expenses exceed revenues
merchandise a company owns and expects to sell in its normal operations
estimate of amount to be recovered at the end of an asset's useful life
expense created by allocating the cost of plant and equipment to periods in which they are used; represents the expense of using an asset
resources owned or controlled by a company that provide expected future benefits to the company
a liability created by buying products or services on credit
obligations due to be paid or settled within the longer of one year of the operating cycle
equals a corporation’s accumulated net income (loss) for all prior periods that has not been distributed to shareholders

Accounting Basics Crossword

Accounting Basics Crossword
Type
Crossword
Description

Anything you own
Assets, Liabilities, and Owners Equity appear on this form
When expenses are greater than revenue you have a
An example of Revenue is
When you owe money
In accounting at least ____________ accounts are affected in a transaction
This affects owners equity
Revenue, expenses and net income/loss are shown on
__________ is an asset
When a customer owes you money
When you owe money
Sales minus expenses
The fourth step in the accounting cycle is
The _________________ entries come from the worksheet
The ___________________ entries are done at the end of every month

ACCOUNTING TERMS Word Search

ACCOUNTING TERMS Word Search
Type
Word Search
Description

Accounts Receivable
Cost of good sold
Accounts Payable
General Ledger
Balance Sheet
Trial Balance
Credit terms
Liabilities
On account
T accounts
Inventory
Receipts
Profits
Assets
Budget
Losses

First Year Accounting Crossword

First Year Accounting  Crossword
Type
Crossword
Description

An itemized record of all the transactionsame in a depositor's account over a given period, usually a month
Closing
General
Net
Owners
Accounts
Accounts
Business
Cash in the
Rent
Income
Trail
Balance
Net
Advertising
On
owners
are the owner's capital account and the owner's drawing

First year accounting Word Search

First year accounting Word Search
Type
Word Search
Description

Business transactions
Accounts Receivable
Advertising Expense
Accounts payable
Cash in the bank
Income statement
Closing entries
General journal
Bank statement
Balance sheet
Owners equity
Trail Balance
Cash receipt
Rent expense
Liabilities
Memorandum
Net income
On account
T-account
Withdrawl
Net loss
Revenue
Assets
Credit
Ledger
Debit

Financial Terms Crossword

Financial Terms Crossword
Type
Crossword
Description

This is the assets (or money) available to an organisation to re-invest and create new assets. It starts with C.
An ______ is an independent examination of an organisation's records and financial statements (report and accounts).
These are things which are owned by a business such as buildings, vehicles, stock and money in the bank.
You make this if you sell or dispose of a long−term asset (such as a building) for more than it cost you. Two words ______ G____
These are short−term assets which are constantly changing in value, such as stocks, debtors and bank balances (two words)
This is the value of a company’s assets minus any liabilities. Basically, the value of something less the money owing on it.
Any of the costs involved in running the business.
A __________ is one which is intended to be used for several years and not be converted into cash. Examples are buildings, machinery and vehicles (two words)
This is the difference between the selling price of goods and what they cost to buy (two words).
These are debts that a person or an organisation owes.
This is the profit left after all overheads have been taken off (two words).
A detailed projection of all estimated income and expenses based on forecasted sales revenue for a year (two words) O_______ ________
The amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise.
Trainer's name

Accounting Bingo

Accounting Bingo
Type
Bingo Cards
Description

payroll
journal
chart of accounts
profit
cash
financial statement
Unit of Measurement
general ledger
revenue
debit
credit
accounts payable
accounts receivable
expenses
Objective Evidence
accrual accounting
sales
depreciation
balance sheet
income statement
equity
Realization of Revenue
liability
asset
Accounting Period Cycle
Business Entity
Consistent Reporting
Full Disclosure
Going Concern
Historical Cost

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Accounting Concepts Crossword

Accounting Concepts Crossword
Type
Crossword
Description

Life of the business is divided into periods of equal length to measure performance and psoition
Transaction are reported in the period they relate to.
Business will continue to operate into the foreseeable future.
Transactions must be reported in NZ dollars.
Transactions are reported at their original purchase price.
Financial affairs of the business is kept separate from the financial affairs of the owner and other businesses.
To show the assumptions followed in preparing the statements and how financial elements have been measured for the entity.
To show the income, expenses and measure profit for the period for the entity.
To measure assets, liabilities and equity at one point in time for the entity.
Prediction of future cash receipts and payments and also shows the estimated bank balance for a particular time period for the entity.
Prepares, analyses and interprets the financial information to assist in decision making.
Preparing internal reports and measuring performance within the business including budgets and costing.
Calculating costs of producing the goods or services which the business is selling.
Carries out independent checks on businesses financial records to ensure accuracy and reliability of the report i.e., “a true and fair view’.
Calculation and payment of tax, and advice on tax issues.
These are independent, registered accountants who provide a range of specialist services to businesses as well as providing
Resource controlled by the entity (business) as a result of past events and from which future economic benefits are expected to flow to the entity.
Present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.
Residual interest in the assets of the entity after deducting all its liabilities.
Increases in economic benefits during the year in the form of inflows or enhancements of assets or decrease in liabilities that result in increases in equity other than those relating to contributions from equity participants
Decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences in liabilities that result in decreases in equity other than those relating to distributions to equity participants
It is an item that will benefit the firm beyond the current year .
It is an item that will benefit the firm for the current year and is classified as an expense.

Basic Accounting Crossword

Basic Accounting Crossword
Type
Crossword
Description

Any business event or activity that involves monetary value is a
Total Liabilities + Equity = ?
Total Assets – Total Liabilities =
Asset and Expense accounts increase with which?
Liability, Equity, and Revenue accounts increase with a
The proof of the equality of debit and credit balances is called _____
incoming assets in return for sold goods or services
outgoing assets or liabilities incurred
the difference between Revenue and Expenses
It is a ‘snapshot’ of the finances of the business at one given time
the items of value owned by the company
the company’s obligations
where we track cash coming into and going out of the business
accounting system which recognizes revenue and expenses as they are earned or incurred, not as cash received or paid
a non-cash expense
The amount contributed by proprietor to start his business
debts that are payable within a year
used for long-term and will likely provide benefits to a company for more than one year
assets that are reasonably expected to be converted into cash within one year
Cash or other property that can be easily converted to cash