Accounting Principles Crossword Puzzle

QUESTIONS LIST:

• accounting: a process of control over the expenditure
• principles: a set of guidelines
• consistency: all accounts are produced in the same way
• going concern: assumes that the business is operating as usual and that there is no reason not to expect it to work as usual in the foreseeable future
• matching: the data used to record financial transactions are those when the transaction occurred
• materiality: calculating the value of the business by looking at the bigger picture
• objectivity: based on the idea that the accounts must be realistic, based on facts
• prudence: not overstating the financial situation
• realization: occurs when legal ownership changes hands rather than when the payment is made