System for Accounting
A planned procedure for gathering financial information and presenting a summary of the findings in accounting records and reports
Financial Records
Financial reports that summarize a company's finances and operations
Statement of Worth
A document that allows the person giving the loan to see the borrower's financial situation on a specific date and decide whether or not to
lend to them.
Asset
Anything that is owned and has value
Liability
A debt that must be paid
Personal Assets
The difference between personal assets and personal liabilities
Equity
The distinction between liabilities and assets
Ethics
The guiding principles of right and wrong that a person uses to make decisions
Ethics in Business
The application of ethics to business decision-making
