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  2. Sales (accounting) - Wikipedia

    en.wikipedia.org/wiki/Sales_(accounting)

    General Journal - Merchandise return example Date Description of entry Debit Credit 8-7 Sales returns and allowances 20.00 Accounts receivable 20.00 Full credit for customer return of merchandise purchased on account. 8-7 Inventory 15.00 Cost of goods sold 15.00 Restore returned merchandise to inventory.

  3. Record to report - Wikipedia

    en.wikipedia.org/wiki/Record_to_report

    Record to report or R2R is a Finance and Accounting (F&A) management process which involves collecting, processing and delivering relevant, timely and accurate information used for providing strategic, financial and operational feedback to understand how a business is performing. [1]

  4. Financial statement - Wikipedia

    en.wikipedia.org/wiki/Financial_statement

    Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand.

  5. Generally Accepted Accounting Principles (United States)

    en.wikipedia.org/wiki/Generally_Accepted...

    Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.

  6. Chart of accounts - Wikipedia

    en.wikipedia.org/wiki/Chart_of_accounts

    In computerized accounting systems with computable quantity accounting, the accounts can have a quantity measure definition. Account numbers may consist of numerical, alphabetic, or alpha-numeric characters, although in many computerized environments, like the SIE format, only numerical identifiers are allowed. The structure and headings of ...

  7. Auditor's report - Wikipedia

    en.wikipedia.org/wiki/Auditor's_report

    The auditor's report is modified to include all necessary disclosures by either presenting the report subsequent to the report on the financial statements, or combining both reports into one auditor's report. The following is an example of the former version of adding a separate report immediately after the auditor's report on financial statements.

  8. Resources, Events, Agents - Wikipedia

    en.wikipedia.org/wiki/Resources,_Events,_Agents

    Resources, events, agents (REA) is a model of how an accounting system can be re-engineered for the computer age.REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, [1] and contained the concepts of resources, events and agents (McCarthy 1982).

  9. Annual comprehensive financial report - Wikipedia

    en.wikipedia.org/wiki/Annual_comprehensive...

    An Annual Comprehensive Financial Report (ACFR), formerly called a Comprehensive Annual Financial Report (CAFR)) [1] is a set of U.S. government financial statements comprising the financial report of a state, municipal or other governmental entity that complies with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB).

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