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\author{nova-cane98}
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  /Title (financial-accounting.pdf)
  /Creator (Cheatography)
  /Author (nova-cane98)
  /Subject (Financial Accounting Cheat Sheet)
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    {\parbox{\dimexpr\textwidth-2\fboxsep\relax}{\noindent
        \hspace*{-6pt}\includegraphics[width=5.8cm]{/web/www.cheatography.com/public/images/cheatography_logo.pdf}}
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\begin{tabulary}{11cm}{L}
    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Financial Accounting Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{nova-cane98} via \textcolor{DarkBackground}{\uline{cheatography.com/217313/cs/47884/}}}
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\noindent
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  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}nova-cane98 \\
  \uline{cheatography.com/nova-cane98} \\
  \end{tabulary}
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Not Yet Published.\\
   Updated 18th May, 2026.\\
   Page {\thepage} of \pageref{LastPage}.
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  Measure your website readability!\\
  www.readability-score.com
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\begin{document}
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\begin{multicols*}{3}

\begin{tabularx}{5.377cm}{p{0.54747 cm} x{4.42953 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Bodies}}  \tn
% Row 0
\SetRowColor{LightBackground}
AICPA & American Institute of Certified Public  Accountants \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
APB & Accounting Principles Board \tn 
% Row Count 3 (+ 1)
% Row 2
\SetRowColor{LightBackground}
CAP & Committee on Accounting Procedure \tn 
% Row Count 4 (+ 1)
% Row 3
\SetRowColor{white}
EITF & Emerging Issues Task Force \tn 
% Row Count 5 (+ 1)
% Row 4
\SetRowColor{LightBackground}
FAF & Financial accounting foundation \tn 
% Row Count 6 (+ 1)
% Row 5
\SetRowColor{white}
 & To select members of the FASB and their Advisory Councils, fund their activities, and exercise general oversight. \tn 
% Row Count 10 (+ 4)
% Row 6
\SetRowColor{LightBackground}
FASAC & Financial Accounting Standards Advisory Council \tn 
% Row Count 12 (+ 2)
% Row 7
\SetRowColor{white}
 & To consult on major policy issues, technical issues, project priorities, and selection and organization of task forces. \tn 
% Row Count 16 (+ 4)
% Row 8
\SetRowColor{LightBackground}
FASB & Financial Accounting Standards Board \tn 
% Row Count 18 (+ 2)
% Row 9
\SetRowColor{white}
 & To establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information. \tn 
% Row Count 24 (+ 6)
% Row 10
\SetRowColor{LightBackground}
IASB & International Accounting Standards Board \tn 
% Row Count 26 (+ 2)
% Row 11
\SetRowColor{white}
PCAOB & Public Company Accounting Oversight Board \tn 
% Row Count 28 (+ 2)
% Row 12
\SetRowColor{LightBackground}
SEC & Securities and Exchange Commission \tn 
% Row Count 29 (+ 1)
% Row 13
\SetRowColor{white}
 & requires public companies to adhere to GAAP \tn 
% Row Count 31 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.74195 cm} x{3.23505 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Common Acronyms}}  \tn
% Row 0
\SetRowColor{LightBackground}
Codification (aka ASC) & Financial Accounting Standards Board  Accounting Standards Codification \tn 
% Row Count 3 (+ 3)
% Row 1
\SetRowColor{white}
ASC & Accounting Standards Codification \tn 
% Row Count 5 (+ 2)
% Row 2
\SetRowColor{LightBackground}
CRS & Financial Accounting Standards Board  Accounting Standards Codification Research System \tn 
% Row Count 9 (+ 4)
% Row 3
\SetRowColor{white}
GAAP & Generally Accepted Accounting Principles \tn 
% Row Count 11 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.74195 cm} x{3.23505 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{financial statements}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{{\bf{Big 4}}\{\{ac\}\}} \tn 
% Row Count 1 (+ 1)
% Row 1
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\mymulticolumn{2}{x{5.377cm}}{{\bf{Balance Sheet}}} \tn 
% Row Count 2 (+ 1)
% Row 2
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\mymulticolumn{2}{x{5.377cm}}{{\bf{Income Statement}}} \tn 
% Row Count 3 (+ 1)
% Row 3
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Basic components & + Revenues \tn 
% Row Count 5 (+ 2)
% Row 4
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 & - Expenses \tn 
% Row Count 6 (+ 1)
% Row 5
\SetRowColor{white}
 & = Net income \tn 
% Row Count 7 (+ 1)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{{\bf{Statement of Cash Flows}}} \tn 
% Row Count 8 (+ 1)
% Row 7
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 & \{\{fa-circle\}\} Operating activities \tn 
% Row Count 10 (+ 2)
% Row 8
\SetRowColor{LightBackground}
 & \{\{fa-circle\}\} Investing activities \tn 
% Row Count 12 (+ 2)
% Row 9
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 & \{\{fa-circle\}\} Financing activities \tn 
% Row Count 14 (+ 2)
% Row 10
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 & Net increase or decrease\{\{bt=1\}\} \tn 
% Row Count 16 (+ 2)
% Row 11
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 & Beginning Cash Balance \tn 
% Row Count 17 (+ 1)
% Row 12
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 & Ending Cash Balance\{\{bt=1\}\} \tn 
% Row Count 19 (+ 2)
% Row 13
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\mymulticolumn{2}{x{5.377cm}}{{\bf{Statement of Stockholders' Equity}}} \tn 
% Row Count 20 (+ 1)
% Row 14
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 & Balance at the beginning of the period \tn 
% Row Count 22 (+ 2)
% Row 15
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 & Additions \tn 
% Row Count 23 (+ 1)
% Row 16
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 & Deductions \tn 
% Row Count 24 (+ 1)
% Row 17
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 & Balance at the end of the period \tn 
% Row Count 26 (+ 2)
% Row 18
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\mymulticolumn{2}{x{5.377cm}}{\{\{bt=3\}\}} \tn 
% Row Count 27 (+ 1)
% Row 19
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General Ledger & list of all accounts \tn 
% Row Count 28 (+ 1)
% Row 20
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Subsidiary Ledger & has the details related to a given general ledger account \tn 
% Row Count 31 (+ 3)
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\vfill
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\begin{tabularx}{5.377cm}{x{1.74195 cm} x{3.23505 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{financial statements (cont)}}  \tn
% Row 21
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General Journal & a chronological record of all JE's \tn 
% Row Count 2 (+ 2)
% Row 22
\SetRowColor{white}
Trial Balance & a list of accounts and their balances at a given time \tn 
% Row Count 5 (+ 3)
% Row 23
\SetRowColor{LightBackground}
Adjusted Trial Balance & used to prepare the Income Statement, Retained earnings statement, and the balance sheet \tn 
% Row Count 9 (+ 4)
% Row 24
\SetRowColor{white}
Closing Entries & Transfers all income statement accounts to Retained Earnings via the Income Summary account \tn 
% Row Count 13 (+ 4)
% Row 25
\SetRowColor{LightBackground}
 & Balance sheet accounts (asset, liability and equity) are permanent and are not closed \tn 
% Row Count 17 (+ 4)
% Row 26
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 & Dividends are closed directly to the Retained Earnings \tn 
% Row Count 20 (+ 3)
% Row 27
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\mymulticolumn{2}{x{5.377cm}}{} \tn 
% Row Count 20 (+ 0)
% Row 28
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\mymulticolumn{2}{x{5.377cm}}{Comprehensive income ?} \tn 
% Row Count 21 (+ 1)
% Row 29
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\mymulticolumn{2}{x{5.377cm}}{other comprehensive income?} \tn 
% Row Count 22 (+ 1)
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\begin{tabularx}{5.377cm}{p{0.4977 cm} x{4.4793 cm} }
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Account types}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{DEA/LOR \{\{ac\}\} \{\{bt=3\}\}} \tn 
% Row Count 1 (+ 1)
% Row 1
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\mymulticolumn{2}{x{5.377cm}}{DEBIT / CREDIT} \tn 
% Row Count 2 (+ 1)
% Row 2
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DEA: & Dividends, Expenses, and Assets \tn 
% Row Count 3 (+ 1)
% Row 3
\SetRowColor{white}
LOR: & Liabilities, (owners') Equity, and Revenue \tn 
% Row Count 5 (+ 2)
% Row 4
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\mymulticolumn{2}{x{5.377cm}}{\{\{ac\}\} DEAD = Debits (increase) Expenses, Assets, and Dividends} \tn 
% Row Count 7 (+ 2)
% Row 5
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\mymulticolumn{2}{x{5.377cm}}{Asset accounts (DR) \{\{bt=3\}\}} \tn 
% Row Count 8 (+ 1)
% Row 6
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 & Cash \tn 
% Row Count 9 (+ 1)
% Row 7
\SetRowColor{white}
 & AR - Accounts receivable \tn 
% Row Count 10 (+ 1)
% Row 8
\SetRowColor{LightBackground}
 & PPE - Property, Plant, Equipment \tn 
% Row Count 11 (+ 1)
% Row 9
\SetRowColor{white}
 & Accumulated deprecation \tn 
% Row Count 12 (+ 1)
% Row 10
\SetRowColor{LightBackground}
 & Pre-paid accounts \tn 
% Row Count 13 (+ 1)
% Row 11
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{Liabilities accounts (CR) \{\{bt=3\}\}} \tn 
% Row Count 14 (+ 1)
% Row 12
\SetRowColor{LightBackground}
 & Notes payable \tn 
% Row Count 15 (+ 1)
% Row 13
\SetRowColor{white}
 & (any payable account) \tn 
% Row Count 16 (+ 1)
% Row 14
\SetRowColor{LightBackground}
 & Unearned service revenue (contra asset account) \tn 
% Row Count 18 (+ 2)
% Row 15
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{SHE \{\{bt=3\}\}} \tn 
% Row Count 19 (+ 1)
% Row 16
\SetRowColor{LightBackground}
 & Cr. Common stock \tn 
% Row Count 20 (+ 1)
% Row 17
\SetRowColor{white}
 & Cr. Retained earnings \tn 
% Row Count 21 (+ 1)
% Row 18
\SetRowColor{LightBackground}
 & Dr. Dividends \tn 
% Row Count 22 (+ 1)
% Row 19
\SetRowColor{white}
 & Dr. Salaries expense \tn 
% Row Count 23 (+ 1)
% Row 20
\SetRowColor{LightBackground}
 & Cr. Service revenue \tn 
% Row Count 24 (+ 1)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
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\begin{tabularx}{5.377cm}{p{0.4977 cm} x{4.4793 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Equations}}  \tn
% Row 0
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\mymulticolumn{2}{x{5.377cm}}{Basic Acct Equation\{\{bt=3\}\}} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{Assets (Dr.) =} \tn 
% Row Count 2 (+ 1)
% Row 2
\SetRowColor{LightBackground}
 & + Liabilities (Cr.) \tn 
% Row Count 3 (+ 1)
% Row 3
\SetRowColor{white}
 & + SHE (mixed) \tn 
% Row Count 4 (+ 1)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{SHE (mixed) = \{\{bt=3\}\}} \tn 
% Row Count 5 (+ 1)
% Row 5
\SetRowColor{white}
 & + CS (Common Stock) (Cr.) \tn 
% Row Count 6 (+ 1)
% Row 6
\SetRowColor{LightBackground}
 & +  RE (retained earnings) (Cr.) \tn 
% Row Count 7 (+ 1)
% Row 7
\SetRowColor{white}
 & + revenues (Cr.) \tn 
% Row Count 8 (+ 1)
% Row 8
\SetRowColor{LightBackground}
 & - expenses (Dr.) \tn 
% Row Count 9 (+ 1)
% Row 9
\SetRowColor{white}
 & - dividends (Dr.) \tn 
% Row Count 10 (+ 1)
% Row 10
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{4 adjustments to owners' equity} \tn 
% Row Count 11 (+ 1)
% Row 11
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{WIRE (- ++ -)} \tn 
% Row Count 12 (+ 1)
% Row 12
\SetRowColor{LightBackground}
 & -Withdraws \tn 
% Row Count 13 (+ 1)
% Row 13
\SetRowColor{white}
 & +Investments \tn 
% Row Count 14 (+ 1)
% Row 14
\SetRowColor{LightBackground}
 & +Revenue \tn 
% Row Count 15 (+ 1)
% Row 15
\SetRowColor{white}
 & -Expenses \tn 
% Row Count 16 (+ 1)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{x{1.24425 cm} x{3.73275 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Basic Principles of Accounting - 4}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{{\bf{Measurement Principle}}\{\{ac\}\}} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
Historic Cost & accounting/reporting on the basis of acquisition price \tn 
% Row Count 3 (+ 2)
% Row 2
\SetRowColor{LightBackground}
 & *verifiable benchmark \tn 
% Row Count 4 (+ 1)
% Row 3
\SetRowColor{white}
Fair Value & the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date \tn 
% Row Count 10 (+ 6)
% Row 4
\SetRowColor{LightBackground}
 & *market-based measure \tn 
% Row Count 11 (+ 1)
% Row 5
\SetRowColor{white}
 & **more useful \tn 
% Row Count 12 (+ 1)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{{\bf{Revenue Recognition Principle}}\{\{ac\}\}} \tn 
% Row Count 13 (+ 1)
% Row 7
\SetRowColor{white}
 & When the company satisfies this performance obligation \tn 
% Row Count 15 (+ 2)
% Row 8
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{{\bf{Expense Recognition Principle}}\{\{ac\}\}} \tn 
% Row Count 16 (+ 1)
% Row 9
\SetRowColor{white}
 & when the work (service) or the product actually contributes to revenue \tn 
% Row Count 19 (+ 3)
% Row 10
\SetRowColor{LightBackground}
 & by matching efforts (expenses) with accomplishment (revenues), the expense recognition principle is implemented \tn 
% Row Count 23 (+ 4)
% Row 11
\SetRowColor{white}
product costs & material, labor, and overhead, attach to the product \tn 
% Row Count 25 (+ 2)
% Row 12
\SetRowColor{LightBackground}
period costs & such as offi cers' salaries and other administrative expenses, attach to the period \tn 
% Row Count 28 (+ 3)
% Row 13
\SetRowColor{white}
\mymulticolumn{2}{x{5.377cm}}{{\bf{Full Disclosure Principle}}\{\{ac\}\}} \tn 
% Row Count 29 (+ 1)
% Row 14
\SetRowColor{LightBackground}
 & 1. sufficient detail to disclose matters that make a difference to users \tn 
% Row Count 32 (+ 3)
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\vfill
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\begin{tabularx}{5.377cm}{x{1.24425 cm} x{3.73275 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Basic Principles of Accounting - 4 (cont)}}  \tn
% Row 15
\SetRowColor{LightBackground}
 & 2. sufficient condensation to make the information understandable \tn 
% Row Count 3 (+ 3)
% Row 16
\SetRowColor{white}
3 places & (1) within the main body of financial statements \tn 
% Row Count 5 (+ 2)
% Row 17
\SetRowColor{LightBackground}
 & (2) in the notes to those statements \tn 
% Row Count 7 (+ 2)
% Row 18
\SetRowColor{white}
 & (3) as supplementary information \tn 
% Row Count 9 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{5.377cm}}{making sure the company presents enough information to ensure that the {\bf{reasonably prudent investor}} will not be misled}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}