Nama : Shabri Dwi Fijayanto

NIM : 31401900156

Kelas : A2R5

1. GAAP = A set of rules and guidelines developed by the accounting industry for companies to
follow when reporting financial data.
2. Lease = An agreement where the owner of something allows someone else’s to use it for a
specific time for a sum of money.
3. Cost of goods sold = The direct expenses related to producing the goods sold by a business.
4. Liabilities = A company's debts or financial obligations incurred during business operations.
5. Contract = An agreement of two or more parties, often written.
6. Present value = The current value of a future sum of money based on a specific rate of
return.
7. Shareholder = Someone who owns parts of the company.
8. Accounts Receivable = The amount of money owed by customers or clients to a business
after goods or services have been delivered and/or used.
9. Accounts Payable = The amount of money a company owes creditors (suppliers, etc.) in
return for goods and/or services they have delivered.
10. Current Assets = The assets that will be converted to cash within one year. Typically, this
could be cash, inventory or accounts receivable.
11. General Ledger = A complete record of the financial transactions over the life of a company.
12. Balance Sheets = A financial report that summarizes a company's assets (what it owns),
liabilities (what it owes) and owner or shareholder equity ;at a given time.
13. Cash Flow = The revenue or expense expected to be generated through business activities
(sales, manufacturing, etc.) over a period of time.
14. Certified public accountant (CPA) = A designation given to an accountant who has passed a
standardized exam and met government-mandated work experience and educational
requirements.
15. Insolvency = A state where an individual or organization can no longer meet financial
obligations with lender(s) when their debts come due.
1. Look at the assets and __ ___liabilities_____ on the balance sheet if you want to know
how the company’s doing.

2. Liquidation is one of the corporate _ ___insolvency_____ procedures. It is when a

company is unable to pay its debts when they fall due payments.

3. Every day, a bookkeeper records all transaction in the ___general

ledger_______________.

4. If you want to see the company’s total assets, and how the assets are financed, you must
see the _____current assets_________  of the company.

5. ________Balance sheets_____ typically receive declared dividends if the company does

well and succeeds.

6. Accountants across the world can read and compare  financial statements of different
companies because they follow the same rules and principles  called ______GAAP____

7. A: Have you signed the _______contract___?____ 

   B: Not yet, we are still negotiating some crucial items.

8. Cash, inventories, and receivables are items belonging to __current assets_________

9. She wants to be a _____certified public accountant_______. Now she is taking Accounting

study program and when she graduates, she will take Accounting Profession Program.

10. When a business receives a service from another business, the bookkeeper will record the
cost of the service as _______accounts payable________