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Universities » Utah Valley State College (UVU) » ACC - Accounting » 2010 - Financial Accounting » Flash Cards

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Class:ACC 2010 - Financial Accounting
Subject:Accounting
University:Utah Valley University
Term:Spring 2011
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The Accounting Equation A = L + OE
Internal Controls In accounting and auditing, internal control is defined as a process effected by an organization's structure, work and authority flows, people and management information systems, designed to help the organization accomplish specific goals or objectives.
Current Liabilities In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer.
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 The Accounting EquationA = L + OE
 Internal ControlsIn accounting and auditing, internal control is defined as a process effected by an organization's structure, work and authority flows, people and management information systems, designed to help the organization accomplish specific goals or objectives.
 Current LiabilitiesIn accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer.
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