Accounting Vocabulary | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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15

Debit

An accounting entry that increases assets and expenses and decreases liabilities and equity.

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boom

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fairy

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25

gift

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baam

Lose 10 points!

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15

Working Capital

Current assets minus current liabilities, indicating a company's short-term financial health.

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Accounts Receivable

Money customers or other debtors owe to a business.

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Net Income

The profit remaining after all expenses, taxes, and costs have been deducted from revenue.

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Liabilities

A company's debts to third parties.

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Assets

Resources owned by a company that have economic value, such as cash, inventory, and property.

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Expense

The costs incurred by a business in generating revenue.

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Depreciation

The systematic allocation of an asset's cost over its useful life. It's recorded as an expense on the income statement.

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Capital

Financial assets or resources that a company uses to fund operations or growth.

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Bookkeeping

The recording of financial transactions in an organized manner.

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lifesaver

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15

Cash Flow

The amount of cash a business generates or spends within a period. Positive cash flow means a business is generating more money than it's spending.

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Financial Statements

Reports summarizing financial activities, including the balance sheet, income statement, and cash flow statement.

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seesaw

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rocket

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15

Equity

The value of a business, calculated by subtracting liabilities from assets.

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