Financial Accounting Book keeping in a business
FINANCIAL STATEMENT Report that summaries the financial condition of a business Liability An amount owed Owner's Equity Amount remaining after Assets - Liabilities Schedule of Accounts Payable A list of vendor accounts, balances, and total amount owing to all vendors Balance Sheet Financial document showing Assets, Liab & OE Post Closing Trial Balance The final financial statement produced in a fiscal year Ledgers A group of accounts and their totals ACCOUNT BALANCE Total of the account Purchases The account used when buying merchandise Financial Statements Financial Records of business activity Transaction Any business activity that changes assets, liability or Owner's Equity Accounting Equation Assets = Liab + OE Expense Money paid to operate the business ASSETS Items that are Owned Accounts Receivable Amounts to be received in future due to sale of goods Partnership Two or more persons combine their assets/skill Business Ethics The principles of right and wrong Debit & Credit Transactions need at least one of EACH of these Income Statement Financial document showing Revenue and Expenses Merchandising Business A business that sells products for profit Invoice A source document for recording a purchase on account ACCOUNTING The financial process to recording money transactions WITHDRAWAL Something has been taken out of the business Merchandise Inventory The goods a business has on hand for sale to customers Managerial Accounting The management & decision making in business Credit limit The maximum outstanding balance allowed to a customer by a vendor. GAAP The accepted Accounting principals ACCOUNT TITLE Information at the top of each financial statement Vendor A business from which merchandise or other assets are purchased n/30 No discount, must be paid within 30 days of the invoice date Stockholder The owner of shares in a business Terms of sale An agreement between a buyer and seller about payment for merchandise Sole Proprietor A business owned by one person CAPITAL The owner's Investment into the business 2/10 2% discount if paid within 10 days of the invoice date Accounts Payable Amount to be paid in the future Revenue Money earned in business Journalizing Recording transactions in a journal Financial Accounting Book keeping in a business FINANCIAL STATEMENT Report that summaries the financial condition of a business Liability An amount owed Owner's Equity Amount remaining after Assets - Liabilities Schedule of Accounts Payable A list of vendor accounts, balances, and total amount owing to all vendors Balance Sheet Financial document showing Assets, Liab & OE Post Closing Trial Balance The final financial statement produced in a fiscal year Ledgers A group of accounts and their totals ACCOUNT BALANCE Total of the account Purchases The account used when buying merchandise Financial Statements Financial Records of business activity Transaction Any business activity that changes assets, liability or Owner's Equity Accounting Equation Assets = Liab + OE Expense Money paid to operate the business ASSETS Items that are Owned Accounts Receivable Amounts to be received in future due to sale of goods Partnership Two or more persons combine their assets/skill Business Ethics The principles of right and wrong Debit & Credit Transactions need at least one of EACH of these Income Statement Financial document showing Revenue and Expenses Merchandising Business A business that sells products for profit Invoice A source document for recording a purchase on account ACCOUNTING The financial process to recording money transactions WITHDRAWAL Something has been taken out of the business Merchandise Inventory The goods a business has on hand for sale to customers Managerial Accounting The management & decision making in business Credit limit The maximum outstanding balance allowed to a customer by a vendor. GAAP The accepted Accounting principals ACCOUNT TITLE Information at the top of each financial statement Vendor A business from which merchandise or other assets are purchased n/30 No discount, must be paid within 30 days of the invoice date Stockholder The owner of shares in a business Terms of sale An agreement between a buyer and seller about payment for merchandise Sole Proprietor A business owned by one person CAPITAL The owner's Investment into the business 2/10 2% discount if paid within 10 days of the invoice date Accounts Payable Amount to be paid in the future Revenue Money earned in business Journalizing Recording transactions in a journal
(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.
Book keeping in a business
Financial Accounting
Report that summaries the financial condition of a business
FINANCIAL STATEMENT
An amount owed
Liability
Amount remaining after Assets - Liabilities
Owner's Equity
A list of vendor accounts, balances, and total amount owing to all vendors
Schedule of Accounts Payable
Financial document showing Assets, Liab & OE
Balance Sheet
The final financial statement produced in a fiscal year
Post Closing Trial Balance
A group of accounts and their totals
Ledgers
Total of the account
ACCOUNT BALANCE
The account used when buying merchandise
Purchases
Financial Records of business activity
Financial Statements
Any business activity that changes assets, liability or Owner's Equity
Transaction
Assets = Liab + OE
Accounting Equation
Money paid to operate the business
Expense
Items that are Owned
ASSETS
Amounts to be received in future due to sale of goods
Accounts Receivable
Two or more persons combine their assets/skill
Partnership
The principles of right and wrong
Business Ethics
Transactions need at least one of EACH of these
Debit & Credit
Financial document showing Revenue and Expenses
Income Statement
A business that sells products for profit
Merchandising Business
A source document for recording a purchase on account
Invoice
The financial process to recording money transactions
ACCOUNTING
Something has been taken out of the business
WITHDRAWAL
The goods a business has on hand for sale to customers
Merchandise Inventory
The management & decision making in business
Managerial Accounting
The maximum outstanding balance allowed to a customer by a vendor.
Credit limit
The accepted Accounting principals
GAAP
Information at the top of each financial statement
ACCOUNT TITLE
A business from which merchandise or other assets are purchased
Vendor
No discount, must be paid within 30 days of the invoice date
n/30
The owner of shares in a business
Stockholder
An agreement between a buyer and seller about payment for merchandise
Terms of sale
A business owned by one person
Sole Proprietor
The owner's Investment into the business
CAPITAL
2% discount if paid within 10 days of the invoice date
2/10
Amount to be paid in the future
Accounts Payable
Money earned in business
Revenue
Recording transactions in a journal
Journalizing