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Adjusting entries are made at the end of a period to update accounts. An adjusting entry affects an income statement and balance sheet account. This is lesson 3 in our financial accounting...
Financial Reporting The goal of financial accounting is to issue financial statements. The first step of financial reporting is recording business transactions. This is lesson 2 in our...
Financial Terms Glossary 123 10-K A 10-K is a company annual report required by the Securities and Exchange Commission. It provides an overview of the business, risk factors,...
Financial Terms Glossary A Accounting Accounting is the language of business. Accounting is the process of capturing and communicating financial data. The goal of the accounting...
Financial Terms Glossary B Balance Sheet The balance sheet is one of the three financial statements. The balance sheet format shows assets, liabilities, and equity....
Financial Terms Glossary C Cash flow statement The cash flow statement is one of the basic three financial statements. The format is cash receipts minus cash payments. The cash flow...