The process of keeping and interpreting financial records Accounting
the process of obtaining funds and using them to achieve the goal of the business Finance
Decisions that determine which projects a business will invest in, how the investment(s) will be financed, and whether or not to pay dividends to shareholders Capital Investment Decisions
Management of a firm’s current balance of assets and liabilities; involves accounts payable and receivable, inventory and cash. Working Capital Management
A measure of how well a business generates cash flow in relation to the capital it has already invested in itself Return on Capital
special book or computer program in which transactions are recorded in the order that they occur Journal
accounting method that is easy to use and popular with small business Cash accounting method
accounting method used by large businesses and by businesses that offer credit Accrual Method
An accounting record for a specific department or area of business Ledger
Listing of the business's different accounts and their current balances Trial Balance
how much money the business has made or lost during a period of time Income Statement
A financial summary estimation when, where, and how much money will flow into and out of a business during a specific period of time Cash Flow Statment
Who needs accounting Businesses
First major step of accounting cycle Analyzing financial transactions
Second step of the accounting cycle Journalizing transactions
Third step of accounting cycle Posting to ledgers
Fourth step in accounting cycle Balancing the books
Fifth accounting cycle step Preparing financial statements
Sixth accounting cycle step Closing the books
What business's financial transactions can include sales, purchases, and Returns

Accounting Crossword Puzzle


A balance sheet account that tracks the activities that last longer than an accounting period. Permanent Account
The purpose of the accounting cycle is to prepare ___________ statements like the balance sheet, income statement, statement of retained earnings, and statement of cash flows. Financial
The accounting ____________ is a tool used to help bookkeepers and accountants complete the accounting cycle and prepare year-end reports like unadjusted trial balances, adjusting journal entries, adjusted trial balances, and financial statements. Worksheet
A business transaction is recorded as a _____________ in the general journal to show how the event changed in the accounting equation. Journal Entry
A trial balance that lists of all company accounts that will appear on the financial statements after year-end adjusting journal entries have been made. Adjusted
An entry made at the end of an accounting period to zero out all temporary accounts and transfer their balances to permanent accounts. Closing Entry
An income statement account that is used to track accounting activity during an accounting period. Temporary Account
A record or document that contains account summaries for accounts used by a company. General Journal
An exchange of value between two different groups with financial or accounting significance. Transaction
Financial statement ____________ is the purpose of the accounting cycle. Preparation
The financial process starting with recording business transactions and leading up to the preparation of financial statements. Accounting Cycle

Accounting 2 Vocab Chapter 1-4 Crossword


anything of value that is owned Asset
an amount owed by a business Liability
financial rights to the assets of a business Equities
the amount remaining after the value of all liabilities is subtracted from the value of all assets Owners Equity
the owners’ equity in a corporation Stockholders equity
an equation showing the relationship among assets, liabilities, and owners’ equity Accounting equation
business papers from which information is obtained for a journal entry Source documents
a form for recording transactions in chronological order Journal
a journal used to record only one kind of transaction Special Journal
a record that summarize all the transactions pertaining to single item in the accounting equation Account
a group of accounts Ledger
a ledger that contains all accounts needed to prepare financial statements General ledger
a ledger that is summarized in a single general account Subsidiary ledger
an account in a general ledger that summarizes all accounts in a subsidiary ledger Controlling account
the procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current File maintenance
an accounting system showing accounting information for two or more departments Departmental accounting system
a business that purchases and sells goods Merchandising business
transferring transaction information from a journal entry to a ledger account Posting
a form prepared by the customer showing the price deduction taken by the customer for a return or an allowance Debit Memorandum
an account that reduces a related account on a financial statement Contra Account
a deduction that a vendor allows on the invoice amount to encourage prompt payment Cash discount
when a company that has purchased merchandise on account takes a cash discount Purchases discount
an amount of cash kept on hand and used for making small payments Petty cash
a form prepared by the vendor showing the amount deducted for returns and allowances Credit memorandum
a cash discount on a sale taken by the customer Sales discount
a specialized computer used to collect, store, and report all the information about a sales transaction Point-of-sale terminal
the amount paid to an employee for every hour worked Wage

Banking Terms Crossword


Bank branch offices, hours of operation, availability of ATM Location
Direct deposit, automatic payments, overdraft protects, online banking, discounts or free checking for students Special Features
Monthly charges, per check costs, printing of checks, balance inquiry cost, ATM checks Fees
Minimum balance, holding period for deposited checks Restrictions
An payment system where bills are paid through direct withdrawal from a bank account Automatic Payment
A financial cooperative owned by its members to serve its members. It offers the same financial services as a bank Credit Union
Allow customers to get cash and conduct banking transactions ATM
An account that allows you to deposit money and write checks on that account. Checking Account
The amount of money currently in an account Balance
A business that keeps money safe fro its customers, lends money to borrowers, and provides other financial services Bank
A banking card that can be used to purchase goods and services electronically. The amount is transferred immediately. Debit Card
The least amount of money a bank requires when opening an account Minimum Deposit
The money put into a bank account Deposit
A savings or checking account set up in the names of more than one person Joint Account
The money a bank pays for the use of a person’s money. Interest is referred to in terms of annual percentage rate (APR) Interest
Tells how much money you currently have in your account (account balance) Inquiry
A secret number or code that protects the security of an account PIN
An amount of money taken out of an account Withdrawal
A bank account that allows you to put money away to use later. The bank pays interest in exchange for the use of the money in the account Savings Account
Business done with a bank, including deposits, and withdrawals Transaction
A bank employee who performs banking services for the public, such as cashing checks and accepting deposits Teller

Accounting Terms: Back to Basics Crossword


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

fundamental of accounting Crossword


Revenue,expenses and net incom/loss are show on INCOMESTATEMENT
Credit recorded when a company purchase inventory on credit from vendors or supplies. ACCOUNTS PAYABLE
A long-term contract to borrow money from a creditor. NOTEPAYABLE
Initial investments made by owners like stock purchases or partnership buy-ins. CAPITAL
A creditor's claim on a company' assets. LIABILITY
Miscellaneous assets that are entire in product production that are too small and inexpensive to capitalize. SUPPLIES
An asset that arises from selling goods or services to someone on credit. RECEIVABLE
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. FINANCIAL
Entry on the left side of an account. DEBIT
A written promise to repay money. NOTESRECEIVABLE
Assets earned by a company's operations and business activities. REVENUES
Entry on the right side of an account. CREDIT
A resource that is owned or controlled by a company that can be used to provide a future economic benefit. ASSET
The _______ ________ statement summarizes how changes in balance sheet accounts affect the cash account during the accounting period. CASHFLOW
The report that shows a company's financial position based on its assets, liabilities, and equity at a single moment in time. BALANCESHEET
A report that shows the income, expenses, and resulting profits or losses of a company during a specific time period INCOME
Accounts listed last on the balance sheet. EQUITY
He is know as father of accounting PACIOLI
When expenses are greater that revenue you have a? netloss
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. UNEARNED
The accounts in this balance sheet classification are credited to increase them LIABILITIES
The difference between a sole proprietorship's total assets and its total liabilities is ___________'s equity. OWNER
Coins,Currencies,checks,bank deposit this is under of____? cash
This is represent the unsold goods at the end of the accounting period? inventories
. Amounts owned to other for expenses already incurred but not yet paid?? accruedincome
Liability to pay the bank or other financing institution arising from funds borrowed by the business from these institution payable within twelve or shorter. loanpayable
assets held by an enterprise for the accretion of wealth non-current-assets
Accepts deposits from people and busniesses and use them to finance their business deposit
Plans incomes and expenses startupbudget
The _________________ entries come from the worksheet adjusting
An example of Revenue is sales
When you owe money payable
The fourth step in the accounting cycle is ? worksheet
This affects owners equity drawing
The ___________________ entries are done at the end of every month closing
charge for using money until repaid at a future date interest
income statement, balance sheet, statement of changes in owner’s equity, and statement of cash flows financialstatement
In accounting at least ____________ accounts are affected in a transaction two
Sales minus expenses net income
A debt evidenced by a "note" which specifies the principal amount, interest rate and date of repayment loan
A written cash flow plan budget

Business Math Word Search

Word Search

petty cash
balance sheet

Unit 6: Introduction to Investing Crossword


Investment contracts in which the investor exchanges a sum of money for a series of payments over time. annuities
A loan to a company to finance a wide array of business purposes—from short-term inventory financing to long-term investments in equipment. commercial loan
A method of interest payment. This is calculated by adding the interest earned by the investment to the previously earned interest. Each time interest is added to your savings the next interest amount is compounded on the new balance. compound interest
A combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure. conglomerate
Regularly purchasing stocks or mutual funds, whether they are high or low, by investing a constant dollar amount so that over the long term the high and low prices of the investment products average out. dollar-cost averaging
An employer-sponsored retirement plan that allows a worker to save for retirement while deferring income taxes on the saved money and earnings until withdrawal. 401k
A riskier type of investment with a higher potential for return. Examples include stocks, bonds, and mutual funds growth investment
Subject to fast, extreme changes in price or value. volatile
Planning investments and other transactions to match the money and other assets available to an individual over time to the ways in which they want to spend those assets, including personal consumption, charitable donations, support for family members, and gifts. wealth management
A legal relationship in which one person or company holds property, which can include money, real estate, stocks, bonds, collections, automobiles, and personal possessions for the benefit of another. trust
Accounts that can receive and hold funds for a specific purpose such as retirement, college tuition, or medical expenses. If these accounts are established according to federal tax rules, the owner of the account will not have to pay income taxes on the money placed in them until it is withdrawn tax-deferred accounts
The rule is a simplified way to determine how long an investment will take to double, given a fixed annual rate of interest. By dividing 72 by the annual rate of return, investors can get a rough estimate of how many years it will take for the initial investment to duplicate itself. rule of 72
The chance that the rate of return on an investment will be different from what you expected. risk
Accounts that permit individuals to save and invest funds without paying taxes on the income from the investment as long as the proceeds are eventually applied to legitimate educational expenses at an accredited institution. educational plans
The strategy of pursuing an assortment of investments to minimize the effects of risk and volatility. diversification
Helping individuals or a family determine in advance what will happen to their money and other assets after the death of one or more individuals in the family. estate planning
Describing a future financial goal and computing the kinds of income, savings, and investment that will be necessary to achieve the financial goal. financial planning
A safer type of investment with a lower potential for return but that provides regular incomes to investors. Examples include savings accounts and certificates of deposit. income investment
The percentage return on an investment over a set time period, usually a year. interest rate
The original amount of money a person invests (as opposed to interest). principal
The amount of money gained or lost on an investment relative to the amount of money invested, usually expressed as an annual percentage. rate of return
Anticipating a desired or necessary future income after retirement and then creating a plan for the amount of savings and investment needed to create that future income. retirement planning
A company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of shareholders who in turn share in the profits and losses. investment service
The ease with which an investment can be converted into cash. liquidity

Accounting Bingo

Bingo Cards

chart of accounts
financial statement
Unit of Measurement
general ledger
accounts payable
accounts receivable
Objective Evidence
accrual accounting
balance sheet
income statement
Realization of Revenue
Accounting Period Cycle
Business Entity
Consistent Reporting
Full Disclosure
Going Concern
Historical Cost


Accounting Concepts Crossword


Life of the business is divided into periods of equal length to measure performance and psoition Accounting Period
Transaction are reported in the period they relate to. Accrual Basis
Business will continue to operate into the foreseeable future. going concern
Transactions must be reported in NZ dollars. monetary concept
Transactions are reported at their original purchase price. historical cost
Financial affairs of the business is kept separate from the financial affairs of the owner and other businesses. Accounting Entity
To show the assumptions followed in preparing the statements and how financial elements have been measured for the entity. Statement of Accounting Policies
To show the income, expenses and measure profit for the period for the entity. Income Statement
To measure assets, liabilities and equity at one point in time for the entity. Statement of Financial Position
Prediction of future cash receipts and payments and also shows the estimated bank balance for a particular time period for the entity. Cash Budget
Prepares, analyses and interprets the financial information to assist in decision making. Financial Accountant
Preparing internal reports and measuring performance within the business including budgets and costing. Management Accountant
Calculating costs of producing the goods or services which the business is selling. Cost Accountant
Carries out independent checks on businesses financial records to ensure accuracy and reliability of the report i.e., “a true and fair view’. Auditors
Calculation and payment of tax, and advice on tax issues. Tax Accountant
These are independent, registered accountants who provide a range of specialist services to businesses as well as providing Chartered Accountants
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. Asset
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. Liability
Residual interest in the assets of the entity after deducting all its liabilities. Owner's Equity
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 Income
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 Expense
It is an item that will benefit the firm beyond the current year . Capital Expenditure
It is an item that will benefit the firm for the current year and is classified as an expense. Revenue Expenditure

Chapter 9 Crossword


Accounts used to accumulate information until it is transferred to the owner’s capital account. TemporaryAccounts
The series of accounting activities included in recording financial information for a fiscal period. AccountingPeriodCycle
Accounts used to accumulate information from one fiscal period to the next. PermanentAccounts
The accountant who conducts the audit. Auditor
An accounting business that helps other businesses with accounting issues. CertifiedPublicAccountant
An examination of financial records, accounts, and supporting documents to check their accuracy. Audit
Journal entries used to prepare temporary accounts for a new fiscal period. ClosingEntries
A paper or electronic path that provides a documented history of a transaction. SourceDocument
A negative balance that remains after total expenses are subtracted from total income. NetLoss
The area of accounting which focuses on reporting information to internal users ManagerialAccounting
The area of accounting which focuses on reporting information to external users. FinancialAccounting
A positive balance that remains after total expenses are subtracted from total income. NetIncome
Reporting an amount on a financial statement as a percentage of another item on the same financial statement. ComponentPercentage
Changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period. AdjustingEntires
A columnar accounting form used to summarize the general ledger information needed to prepare financial statements. Worksheet
The length of time for which a business summarizes its financial information and reports its financial performance. FiscalPeriod
A proof of the equality of debits and credits in a general ledger. TrialBalance
Cash paid for an expense in one fiscal period that is not used until a later period. PrepaidAsset
A financial statement showing the revenue and expenses for a fiscal period. IncomeStatement
A trial balance prepared after adjusting and closing entries are posted. PostCLosingTrialBalance
An accountant who has passed the uniform certified public accounting exam and met the licensing requirement for a state. (Note: Please enter into the puzzle as an acronym.) CPA
A financial statement that reports assets, liabilities, and owner’s equity on a specific date. BalanceSheet
A fiscal period consisting of 12 consecutive months. FiscalYear
The difference between total revenue and total expenses when total revenue is greater. NetIncome