ACCT

assets

Resources owned or controlled by an individual or business entity that hold economic value and are expected to provide future financial benefits

liability

Financial debts, obligations, or claims against a company's resources that arise during business operations and must be settled in the future

commonstock

Equity securities representing ownership in a corporation, giving shareholders voting rights and a claim on the company's assets and earnings.</span>

revenue

Income generated from normal business operations, typically from the sale of goods or services before any expenses are deducted.

expense

Costs incurred by a business in the process of earning revenue, including costs for goods sold, operating expenses, and taxes.

dividends

Payments made to shareholders from a company's earnings, typically distributed on a per-share basis.

accounts receivable

Money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

inventory

The assets that a business holds for sale to customers, including raw materials, work-in-progress, and finished goods.

income statement

A financial report that measures revenues, expenses, and net profit or loss over a specific period, used by investors and management to evaluate operational profitability

balance sheet

A financial summary reporting total assets, liabilities, and equity at a specific point in time, used to evaluate financial standing, solvency, and liquidity.

statement of cash flows

A financial report tracking actual cash inflows and outflows across operating, investing, and financing activities over a period, used to measure cash generation and solvency

statement of shareholders equity

A financial report detailing changes in equity components—such as common stock, retained earnings, and dividends—over a period, used to show changes in overall ownership value.