| A | B |
|---|
| Accountant | Makes business decisions, prepares and interprets financial reports |
| Accounting Clerk | Performs one or two accounting tasks |
| CPA-Certified Public Accountant | Must pass a national test and meet education and experience requirements |
| For-profit business | Operates to earn money |
| Lifestyle | The way you use your time, energy and resources. |
| Networking | A way to find out about careers by talking to people in those careers. |
| Not-for-profit business | Operates for reasons other than money. |
| Personal Interest Tests | Help you identify the things you like to do. |
| Personality | Unique qualities that make us different. |
| Public Accounting | Provides accounting services to clients for a fee. |
| Skills | Activities you do well. |
| Values | Principles and beliefs that are important to you. |
| Accounting System | The process of recording and reporting financial information. |
| Business Entity | Exists independently of its owner's personal holdings. |
| Capital | Money invested in a business by its owner. |
| Corporation | An organization recognized by law to have a life of its own. |
| Entrepreneur | Takes the risks of running a business. |
| Financial accounting | Reporting for external users like banks and the IRS. |
| Accounting Period | The time period covered by an accounting report. |
| GAAP | Generally Accepted Accounting Principles |
| Going Concern | Assumes that the business will operate indefinitely. |
| Loss | Occurs when businesses spend more than they receive. |
| Managerial Accounting | Reporting for internal users for decision making. |
| Manufacturing Business | Transforms raw materials into products. |
| Merchandising Business | Buys finished products and sells them to make a profit. |
| Partnership | A business with two or more owners. |
| Profit | Amount of money earned in excess of amount spent on expenses. |
| Service Business | Business that provides services for a fee. |
| Sole Proprietorship | Has one owner. |
