| A | B |
|---|
| Accountant | An individual who has had specialized training in accounting procedures |
| Accrual accounting method | A method of accounting that records transactions at the time they occur even if no money changes hands at the time |
| Asset(s) | Anything of value that a business or individual owns |
| Balance sheet | A financial statement that captures the financial condition of the business at that particular moment (assets and liabilities) |
| Accounting standards | Rules that accountants must follow when preparing financial statements |
| Accounting system | The methods and procedures used in consistently handling a business’s financial information |
| Accounting cycle | A process or series of steps that businesses complete to maintain their financial records effectively |
| Accounting | The process of keeping and interpreting financial records |
