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ChatGPT
May 20
1. Assets: Resources owned by a business that have economic value, such as cash, inventory, equipment, and property.
2. Liabilities: Debts and obligations owed by a business to external parties, such as loans, accounts payable, and accrued expenses.
3. Equity: The difference between a company's assets and liabilities, representing the owner's stake in the business.
4. Revenue: Income earned by a business from its primary activities, such as sales of goods or services.
5. Expenses: Costs incurred by a business in order to generate revenue, such as salaries, rent, utilities, and supplies.
6. Income statement: A financial statement that shows a company's revenues, expenses, and net income over a specific period of time.
7. Balance sheet: A financial statement that provides a snapshot of a company's financial position at a specific point in time, showing its assets, liabilities, and equity.
8. Cash flow statement: A financial statement that shows the inflows and outflows of cash from a company's operating, investing, and financing activities.
9. Financial ratios: Calculations used to analyze a company's financial performance and health, such as profitability ratios, liquidity ratios, and leverage ratios.
10. Generally Accepted Accounting Principles (GAAP): A set of accounting standards and guidelines that companies must follow when preparing their financial statements.
2. Liabilities: Debts and obligations owed by a business to external parties, such as loans, accounts payable, and accrued expenses.
3. Equity: The difference between a company's assets and liabilities, representing the owner's stake in the business.
4. Revenue: Income earned by a business from its primary activities, such as sales of goods or services.
5. Expenses: Costs incurred by a business in order to generate revenue, such as salaries, rent, utilities, and supplies.
6. Income statement: A financial statement that shows a company's revenues, expenses, and net income over a specific period of time.
7. Balance sheet: A financial statement that provides a snapshot of a company's financial position at a specific point in time, showing its assets, liabilities, and equity.
8. Cash flow statement: A financial statement that shows the inflows and outflows of cash from a company's operating, investing, and financing activities.
9. Financial ratios: Calculations used to analyze a company's financial performance and health, such as profitability ratios, liquidity ratios, and leverage ratios.
10. Generally Accepted Accounting Principles (GAAP): A set of accounting standards and guidelines that companies must follow when preparing their financial statements.
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Google Gemini AI
May 20
Financial Accounting
- Assets, liabilities, equity, revenue, expenses, and net income
- Financial statements (balance sheet, income statement, cash flow statement)
- Accounting principles (GAAP, IFRS)
- Financial analysis ratios
Managerial Accounting
- Budgeting, cost accounting, performance measurement
- Cost-volume-profit (CVP) analysis
- Activity-based costing (ABC)
- Capital budgeting
Cost Accounting
- Direct costs, indirect costs, variable costs, fixed costs
- Job costing, process costing
- Cost-benefit analysis
Auditing
- Internal and external audits
- Financial statement audits, operational audits
- Assurance and consulting services
Tax Accounting
- Tax laws and regulations
- Income tax preparation
- Sales tax, property tax, payroll tax
Other Elements
- Ethics and professional standards (AICPA Code of Ethics)
- Information technology
- Regulatory compliance
- Fraud prevention and detection
- Corporate governance
- Data analytics
- Artificial intelligence
- Assets, liabilities, equity, revenue, expenses, and net income
- Financial statements (balance sheet, income statement, cash flow statement)
- Accounting principles (GAAP, IFRS)
- Financial analysis ratios
Managerial Accounting
- Budgeting, cost accounting, performance measurement
- Cost-volume-profit (CVP) analysis
- Activity-based costing (ABC)
- Capital budgeting
Cost Accounting
- Direct costs, indirect costs, variable costs, fixed costs
- Job costing, process costing
- Cost-benefit analysis
Auditing
- Internal and external audits
- Financial statement audits, operational audits
- Assurance and consulting services
Tax Accounting
- Tax laws and regulations
- Income tax preparation
- Sales tax, property tax, payroll tax
Other Elements
- Ethics and professional standards (AICPA Code of Ethics)
- Information technology
- Regulatory compliance
- Fraud prevention and detection
- Corporate governance
- Data analytics
- Artificial intelligence
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