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Periodic Inventory System:

A system that involves counting inventory at set intervals rather than continuously, making it affordable and simple for small businesses. 

Gross Profit Formula (Periodic)

Sales - COGS = Gross Profit

Net Income Formula (Periodic)

Total revenue - Total Expenses

Equity Method

Perpetual Inventory System

FIFO

LIFO

Average Cost

Bad Debt Expense

Sum of Years Depreciation

Depreciation Expense

Accumulated Amortization

Estimated Uncollectible Customer Accounts

Fair Value

Treatment of Unrealized Gains and Losses

Influential Investments

Non-influential Equity Securities