Accounting Crossword
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
 
 
Down: 1) Documents companies publish to provide information, including financial statements to stockholders2) An information system on the economic activities and financial condition of a business or organization3) increase in equity resulting from operating the business 5) transferring temporary accounts (Revenue, Expenses, and dividends) to the permanent account of (Retained Earnings)7)  Increases both an asset and a claim on assets. Three types include: Acquisition from owners (equity), borrowing from creditors (liabilities), and earnings from operations (revenue) 8) Claims = Liabilities + equity = Common stock + Retained Earnings Assets = Liabilities + Common stock + Retained Earnings9) Resource used to produce revenue, expected to provide future benefit to the business10) Owners interest in companies assets, also called residual interest or net assets, Assets – Liabilities = Equity 12) decrease in equity resulting from operating the business 14) Portion of stockholders equity that includes all retained earnings 15) organizations such as accounting and legal firms, and insurance companies that provide services to consumers22) Economic sacrifice that is incurred in the process of generating profit23) Money or credit supplied to a business by investors and creditors26) transfer the balances in temporary accounts (Revenue, Expenses, and dividends) to Retained Earnings at the end of the accounting period 28) Reports companies assets and the corresponding claims such as liabilities and owners equity at the end of the accounting period34) Owners and creditors interests in a business’s assets 39) Certificates the ownership in a company42) Transfer of wealth from business to its owners 43) group of people organized to buy and sell resources Across: 4)  Accounting principle of recognizing expenses in the same accounting period as the revenues they produce, match expenses with revenues, match expenses to the period in which they occurred, match expense systematically with revenues. 6) accounting principle that supports reporting most assets at historical cost11) economic occurrence that changes an enterprises assets, liabilities or stockholders equity. 13) Time span covered by financial statements, could be any time interval16) Record of classified and summarized transaction data, component of financial statement elements17) Economic benefit gained by providing goods and services to customers18) Cash inflows and outflows from transactions with investors and creditors, including cash receipts from issuing stock, borrowing activities, and cash disbursements to pay dividends. 19) businesses or other organizations for which financial statements are prepared 20) Process of dividing up an organization assets and returning them to the resource providers. Creditors have priority then the investors have second priority21) Revenue – Expenses = Net Income (Earnings or profit) 24) Intellectual and physical efforts of individuals used in the process of providing goods and services to customers 25) individuals or organizations that use financial statements for decision making. 27) Increase in value created by providing goods and services through resource transformation29) the financial statement that reports a company’s cash inflows and outflows for an accounting pored, classifying them as operating, investing, or financing activities 30) Company or individual who gives assets or services in exchange for security certificates representing ownership interests 31) set of all accounts used in given accounting system, typically organized in financial order32) Parties interested in the operations of a business including owners, lenders, employees, suppliers, customers, and government agencies 33) business event that involves transferring something of value between two entities35) ability to convert assets to cash quickly and meet short-term obligation36) Individual or organization that has loaned goods or services to a business 37) Primary categories in financial statement: Assets, liabilities, equity, common stock, revenue, expenses, gains, losses, distributions and net income38) Financial report of profitability40) value added by transforming resources into products or services desired by customers 41)  concurrent representation of several financial statement’s horizontally across a page.43) companies that buy and resell merchandise inventory 44) obligation of a business to relinquish assets, provide services or accept other obligations45) Cash inflows and outflows associated with buying or selling long-term assets and cash inflows and outflows associated with lending activities and investments in the debt and equity of other companies46) Decrease one asset, increase one asset, leaving assets unchanged. Example is buying land with cash47) owners of a corporation48) decreases both an asset and a claim on assets. Three types include: Distribution (transfers to owners, liability payments (to creditors), and expenses (costs incurred to operate the business)49) the interest in a corporation’s asset that is owned by the stockholders
 

 

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