Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 26

Following is a list of the key terms and concepts introduced in the chapter, along with a list of corresponding definitions. Match the appropriate letter for the key term or concept to each definition provided (items 1–10). Note that not all key terms and concepts will be used.

a. Accounting	p. Generally accepted accounting principles
b. Entity	q. Internal auditing
c. Financial accounting	r. Securities and Exchange Commission
d. Bookkeeping	s. Financial Accounting Foundation
e. Certified Public Accountant	t. Financial Accounting Standards Board
f. Managerial accounting	u. Statements of Financial Accounting Standards
g. Cost accounting	v. Cost Accounting Standards Board
h. Certified Management Accountant	w. Governmental Accounting Standards Board
i. Auditing	x. Accrual accounting
j. Public accounting	y. Integrity
k. Certified Internal Auditor	z. Objectivity
l. Generally accepted auditing standards
m. Cash flows
n. Controller
o. Independence

________ Accounting that is concerned with the use of economic and financial information to plan and control the activities of an entity and to support the management decision-making process.

Step 1 of 3

Accounting Information

Accounting is the process of recording and summarizing the financial information of an organization systematically and communicates its financial information to the users of accounting information so that they can make decisions. Generally, the users of accounting information are management, owners, creditors and employees of the organization and state and local government who are concerned with tax matters.