Examlex
Instructions: Identify the following terms:
Battle of Thames River
Financial Accounting
The field of accounting focused on the summary, analysis, and reporting of financial transactions related to a business.
Managerial Accounting
This is a form of accounting that creates financial reports specifically designed to inform the internal decision-making processes of business managers.
GAAP
Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting.
Payroll Scheme
A system or plan for managing the process of paying employees, including calculating wages, withholding taxes, and distributing paychecks.
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