General

Account format	A balance sheet format that lists assets on the left and liabilities and stockholder's equity on the right
accounting	Measures business activities, processes that information into reports and financial statements, and communicates the results to decision makers
Accounting Equation	Assets - Liab = Owner's Equity
Accrual	An expense or revenue that occurs before the business pays or receives cash. Opposite of deferral
Accrual accounting	Impact of a transaction is recognized as it occurs. Both cash transactions (collected from customers and payment of salaries) and noncash transaction (purchase of supplies on acct, providing service on acct) are recorded
Accrual accounting	Accounting that records the impact of a business event as it occurs, regardless of whether the transaction affected cash
Accrual Basis	Method of accounting that recognizes revenue when earned, rather than when collected. Expenses are recognized when incurred rather than when paid
Accrued Expense	An expense incurred but not yet paid in cash
Accrued Liability	A liability for an expense that has not yet been paid by the company. Also called accrued expense
Accrued Revenue	A revenue that has been earned but not yet received in cash
Accts Payable	Liability backed by the general reputation and credit standing of the debtor
Accumulated Depreciation	The cumulative sum of all depreciation expense from the date of acquiring a plant asset
Additional Paid In Capital	Amounts paid for stock in excess of its par value or stated value. Also, other amounts paid by stockholders and charged to equity accounts other than capital stock
Adjusted trial balance	A list of all the ledger accts with their adjusted balances
Adverse Opinion	Expression of an opinion in an auditor's report which states that financial statements do not fairly present the financial position, results of operations and cash flows in conformity with generally accepted accounting principles (GAAP)
Affiliated Company	Company, or other organization related through common ownership, common control of management or owners, or through some other control mechanism, such as a long-term lease