Glossary of Key Financial Accounting Terms
10-K. The annual report submitted by publicly held companies.
Account. An account is an instrument for gathering additions and deletions of a single asset, liability, or owners’ equity item, including revenues and expenses.
Accountant. An accountant is a professional who undertakes accounting functions such as preparation of financial statements. Accountants can work in public practice, industry, government departments, and nongovernmental organizations. Accountants can distinguish themselves from nonqualified accountants by achieving certifications by national professional associations such as the American Institute of Certified Public Accountants (AICPA), after meeting state-specific requirements ...
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