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2
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Decrease retained earnings and are the cost of assets or services used to earn revenues
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3
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Assets = Liabilities + Equity
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4
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Resources a company owns or controls
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5
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A financial statement describing a company's financial position at a point in time
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6
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Describes a company's revenues and expenses along with the resulting net income (or loss) over a period of time
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9
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Identifies cash inflows and cash outflows over a period of time
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10
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Creditor's claims on assets
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11
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Owner's claims on assets
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1
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explains changes in retained earnings from net income (or loss) and from any dividends over a period of time (word abbreviated)
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7
|
Revenues less expenses
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8
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Financial Accounting Practice that is governed by concepts and rules
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