Accounting Review Game

What is Forensic Accounting?

• Recording and classifying accounting transactions

• Assisting court and litigation cases as well as investigations of white collar crimes

• Manage the books of what one has been entrusted

• Helps manage the business forms, records and computer software

What is Auditing?

• Providing financial information to the management internally

• Recording and classifying accounting transactions

• Manage the books of what one has been entrusted

• Evaluating and financial information for errors and efficiency

What is Tax Accounting?

• Helps manage the business forms, records and computer software

• Recording and classifying accounting transactions

• Providing financial information to the management internally

• Helps to follow the tax laws and rules

The belief that a company's financial activities are distinct from the personal transactions of its owners or shareholders.

• Business Entity

• Going Concern

• Accounting Period

The assumption that a business will keep running and is not about to close down or diminish its operations in the foreseeable future.

• Business Entity

• Going Concern

• Accounting Period

The accountant's report shows how much profit the business earned

for one month.

• Business Entity

• Going Concern

• Accounting Period

Accounting reports may cover a month, quarter, or a year.

• Business Entity

• Going Concern

• Accounting Period

A creditor's claim to the property of an individual or business is called:

• An equity

• An asset

• A liability

A business owner's claim to the property of the business is called:

• An equity

• An asset

• A liability

A business owner's claim to the property of the business is called:

• An equity

• An asset

• A liability