A numeric or alphabetic code that identifies an account holder and the account records. AKA account code.

The summary of transactions on an account with a customer over the last period of time. AKA statement of account and bank statement.

A code an account is given to show its general purpose. It can be savings, checking, or brokerage for example.

When a trustee must report all asstes entrusted to them. It is done even if the rules are followed to ensure honesty.

When one party must report its activities and take responsibility for them. It is done to keep them honest and responsible.

This party is assigned responsibilities and is in charge of the account in question.

An official document with value that must be accounted for.

A party trained in bookkeeping and finance practices. They make annual reports, statements, make decisions, plan, and advise on tax and investments. Refer to accounting.

Compensation given to high ranking officials determined by their contributions.

The ways a company control their accounting practices. The goal is to follow rules and procedures, protect the company, and provide timely reports.

The value of resources that are used to complete an activity. Refer to economic cost.

A statement that must be true no matter what changes.

Basic assuptions that determine transaction methods.

All the records about a company and its assets. They are used in audits and financial reviews.

A change in rules that go beyone standard practices. It keeps the economies on a national level. It is used to help globalize standard practices.

Separating a companies accounts so cost and profits with each can be used individually.

The term for financial accounting standards in the UK.

The connection beween unpaid bills and the companies total debt. If its high more funds should be borrowed. This is reported per accounting period.

Trade credit created by a company when it permits a client to pay in the future for goods or services that have already been delivered by the company. A client company is

The connection between unpaid sales and the sales profit. If its hight than cash is being tied up. The formula uses accounts recieveable and sales revenue.