accounts payable:
An account that tracks the money a company owes to its suppliers, vendors, contractors, and others who provide goods and services to the company.
accounts receivable:
An account that tracks individual customer accounts, listing money that customers owe the company for products or services they've purchased.
accrual accounting:
An accounting method in which a company records revenues and expenses when the actual transaction is completed rather than when cash is received or paid out.
accrued liabilities:
The expenses a company has incurred but not yet paid for at the time the company closes its accounting books for the period to prepare its financial statements.
To reduce the value of an intangible asset by a certain percentage each year to show that it's being used up.
arm's length transaction:
A transaction that involves a buyer and a seller who can act independently of each other and have no financial relationship with each other.
Things a company owns, such as buildings, inventory, tools, equipment, vehicles, copyrights, patents, furniture, and any other items it needs to run the business.
The process by which a certified public accountant verifies that a company's financial statements have met the requirements of the generally accepted accounting principles.
auditors’ report:
A letter from the auditors stating that a company's financial statements have been completed in accordance with the generally accepted accounting ...

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