WGU C928 Financial Management for IT Professionals Already Passed

WGU C928 Financial Management for IT Professionals Already Passed current assets Cash and other assets that are expected to be converted to cash or sold or used up, usually within one year or less, through the normal operations of the business. account payable The liability created by a purchase on account. account receivable A claim against the customer created by selling merchandise or services on credit. accounting An information system that provides reports to users about the economic activities and condition of a business. accounting assumptions Assumptions that provide the framework upon which accounting standards are constructed. accounting cycle The process that begins with analyzing and journalizing transactions and ends with the post-closing trial balance. accounting equation Assets = Liabilities + Stockholder's Equity. accounting principles Principles that provide the framework upon which accounting standards are constructed. accounting standards The rules that determine the accounting for individual business transactions. accounts payable subsidiary ledger The subsidiary ledger containing the individual accounts with creditors (suppliers). accounts receivable analysis A company's ability to collect its accounts receivable. accounts receivable subsidiary ledger The subsidiary ledger containing the individual accounts with customers. accumulated other comprehensive income The cumulative effects of other comprehensive income items reported separately in the Stockholders' Equity section of the balance sheet. administrative