| A | B |
|---|
| Accounting cycle | The series of accounting activities included in recording financial information for a fiscal period. |
| Audit | An examination of financial records, accounts, and supporting documents to check their accuracy. |
| Audit trail | A paper or electronic path that provides a documented history of a transaction. |
| Auditor | The accountant who conducts the audit. |
| Closing entries | Journal entries used to prepare temporary accounts for a new fiscal period. |
| Nominal accounts | See temporary accounts. |
| Permanent accounts | Accounts used to accumulate information from one fiscal period to the next. |
| Post-closing trial balance | A trial balance prepared after the closing entries are posted. |
| Public accounting firm | An accounting business that helps other businesses with accounting issues. |
| Temporary accounts | Accounts used to accumulate information until it is transferred to the owner’s capital account. |
