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2. Balance sheet - Wikipedia

   en.wikipedia.org/wiki/Balance_sheet

   A balance sheet is often described as a "snapshot of a company's financial condition". [1] It is the summary of each and every financial statement of an organization. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. [2]

3. Chart of accounts - Wikipedia

   en.wikipedia.org/wiki/Chart_of_accounts

   A chart of accounts compatible with IFRS and US GAAP includes balance sheet (assets, liabilities and equity) and the profit and loss (revenue, expenses, gains and losses) classifications. If used by a consolidated or combined entity, it also includes separate classifications for intercompany transactions and balances.

4. Percentage-of-completion method - Wikipedia

   en.wikipedia.org/wiki/Percentage-of-Completion...

   Revenues and gross profit are recognized each period based on the construction progress, in other words, the percentage of completion. Construction costs plus gross profit earned to date are accumulated in an asset account (construction in process, also called construction in progress), and progress billings are accumulated in a liability account (billing on construction in process).

5. Reconciliation (accounting) - Wikipedia

   en.wikipedia.org/wiki/Reconciliation_(Accounting)

   The generally accepted accounting principles (GAAP) are a set of accounting principles, procedures and standards that organisations use in order to compile their financial statements. GAAP states that the purpose of account reconciliation is to provide accuracy and consistency in financial accounts. To ensure all cash outlays and inlays match ...

6. Financial accounting - Wikipedia

   en.wikipedia.org/wiki/Financial_accounting

   The trial balance, which is usually prepared using the double-entry accounting system, forms the basis for preparing the financial statements. All the figures in the trial balance are rearranged to prepare a profit & loss statement and balance sheet. Accounting standards determine the format for these accounts (SSAP, FRS, IFRS). Financial ...

7. Financial statement - Wikipedia

   en.wikipedia.org/wiki/Financial_statement

   Commonly referred to as Generally Accepted Accounting Principles (GAAP), these set of guidelines provide the basis in the preparation of financial statements, although many companies voluntarily disclose information beyond the scope of such requirements. [6]

8. Generally Accepted Accounting Principles (United States)

   en.wikipedia.org/wiki/Generally_Accepted...

   Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.

9. XBRL - Wikipedia

   en.wikipedia.org/wiki/XBRL

   A tool for converting the consolidated balance sheet, income statement, and statement of cash flows into XBRL‐tagged format. [ 27 ] Corporate governance is significantly and positively associated with a firm's decision to be an early and voluntary filer of financial information in XBRL format.