Accounting Vocab

Accounting Vocab

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  • ... and that is how an income statement shows a net loss or net income
  • I wonder if an income statement is the same as a balance sheet...
  • Did that accountant talk to you guys too?
  • She told us that liabilities are debts
  • I wonder if a fiscal year is a consecutive 11 or 12 month period... Debra, what do you think?
  • *sleeping*
  • Who is this
  • Hello, sir! Did you know that an accounting equation is Assets= Liabilities+ Owner's equity
  • Today at work, an accountant came in to talk about accounting!
  • Mom, I don't care.
  • ... all I'm saying is that she also told us that a transaction affects the financial condition of a business
  • Mom, I still don't care.
  • *crying*
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