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Hsm 260 Checkpoint Scavenger Hunt

GAAP is a standard of methods that accountants and others use to prepare their financials. http://www. suite101.

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com/content/what-is-gaap-a28142 * Basic accounting formula: The formula or equation takes what a owner might owe to creditors and others adds it to what the owner might already own and factors in what the business owns.

The equation can be done in different ways, but no matter there is always a balanced outcome. http://www. moneyinstructor. com/lesson/accountingtransaction. sp * Transaction, t-account: A t-Account provides a visual aid to show an account in a business’ financial books. It provides a method of organization.