Accounting & Finance Terms
Is there a good reference text that defines some of the items on the balance sheet and income statement? For example, defining surplus notes and write-ins. Google gives a variety of definitions, and it can be very time consuming trying to verify definitions looking on different websites. Thank you!!
Comments
The go-to source for these definitions for 6U is Odomirok. You can try auto-searching for a given term in that document.
P.S. Yes, Odomirok would be the definitive source for what you need to know for the exam, and if you can't find it there, it shouldn't be on the exam. Also, it's unlikely you'd be asked to specifically define a term. Typically on exam problems, you are given accounting/finance values and have to know how to use them in a calculation. Of course, it's good to know generally what each term means and where it appears in the financial statements. The following web-based problem might also be helpful in learning where everything fits:
Thank you - This helps!