Accounting: principles of financial accounting from iese business school financial accounting is often called the language of business it is the language that managers use to communicate the firm's financial and economic information to external. Glossary: chapter 2 glossary account a part of the accounting system used to classify and summarize the increases, decreases, and balances of each asset, liability, stockholders' equity item, dividend, revenue, and expense. Study financial accounting (7th edition) discussion and chapter questions and find financial accounting (7th edition) study guide questions and answers. Study flashcards on financial accounting - chapter 2 at cramcom quickly memorize the terms, phrases and much more cramcom makes it easy to get the grade you want.
Questions describe the steps in recording and posting the effects of a business transaction give some examples of source documents define an account what are the two forms of account posting illustrated in the chapter what is meant by the term double-entry procedure, or dua. Chapter 1- accounting in business chapter 2- analyzing and recording transactions chapter 3-adjusting accounts and preparing financial statements. Chapter 3 - accounting basics (and reading financial statements) this chapter, a primer on financial accounting, is meant to acquaint you with the essential ways in which business information is prepared and presented, the important terms and vocabulary of financial accounting, and how accounting data is used in business valuation.
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