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ACCOUNTING GENERAL KNOWLEDGE

Horizontales
An American energy company that filed for bankruptcy in 2001. The company's collapse was caused by accounting fraud and sharp losses. It was the largest corporate bankruptcy in U.S. history at the time.
Applicable standard in non-current asset held for sale.
The last name of the Father of Double-Entry Accounting
Is only concerned with information that is significant enough to affect evaluations and decisions.
A form of business that buys raw materials and transforms them into finished products.
Opposite of contra-account
This means categorizing similar items into same group or same name based on certain characteristics or bases.
Verticales
A spreadsheet that summarizes and organizes financial data to help prepare financial statements.
A principle requiring the same accounting method from period to period to achieve comparability.
Users of financial statement who need financial information for analyzing the organization's performance and position and taking appropriate measures to improve the company results.