Secretary Accounts Officer

This statement of financial position reports a corporation's assets, liabilities and stockholders' equity as of the final instant of the date shown in its heading (December 31, January 31, June 30, etc.)

This financial statement is often presented as the statement of shareholders' equity, statement of equity, statement of changes in stockholders' equity, etc. It reports all of the changes in stockholders' equity which occurred during the accounting period.

An account manager uses the information at his disposal to maintain and increase client interest. Staying current and doing marketing research are key factors to understanding what the customer is getting tired of and what he might become interested in. This information has to be effectively coordinated with the company departments in order to result in a product that will prevent the customer from leaving.

These costs are reported as operating expenses on the income statement because they pertain to operating the main business during that accounting period. These costs may have expired, may have been used up, or may not have a future value that can be measured.

Operating expenses are the costs associated with a company's main operating activities and which are reported on its income statement.

After I recuperated from the shock both times, it made me feel stronger. It's true that I was fired twice, but I managed to bounce back both times and land jobs that gave me more responsibility, paid me more money, and were at better firms.

The morale here is very high. I've been exposed to the "seamy underbelly" of this business, but I'm still passionate about working in it.

Premium on bonds payable (or bond premium) occurs when bonds payable are issued for an amount greater than their face or maturity amount. This is caused by the bonds having a stated interest rate that is higher than the market interest rate for similar bonds.

In accounting, an ordinary annuity refers to a series of identical cash amounts with each amount occurring at the end of equal time intervals.

An ordinary annuity is also known as an annuity in arrears.

As a career-changer, I believe that I'm a better employee because I've gained a lot of diverse skills from moving around. These skills help me solve problems creatively.

Maybe in about twenty years, but by then, I suspect you'll be running the entire company and will need a good, loyal lieutenant to help you manage this department!

I was working so hard to keep my job while everyone around me was being cut that I didn't have any time left over to look for another job. With all of the mergers that have been happening in our field, layoffs are a way of life. At least I gave it my best shot!

A fiscal year usually refers to an accounting year that does not end on December 31. (The accounting year of January 1 through December 31 is usually referred to as a calendar year.) Some examples of the fiscal years used by U.S. corporations include:

★ The 12 months of February 1 through January 31

★ The 12 months of October 1 through September 30

★ The 12 months of June 1 through May 31

★ The 52 weeks (four 13-week quarters) ending on the Saturday closest to January 31 (This will require an occasional fiscal year of 53 weeks since 52 weeks X 7 days = 364 days vs. 365 days per year.)

These are the amounts earned through the sale of goods and the providing of services.

These include the cost of goods sold, SG&A expenses, and interest expense.

Sales refers to the revenues earned when a company sells its goods, products, merchandise, etc. (If a company sells one of its non-current assets that was used in its business, the amount received is not recorded in its Sales account.)

The amounts recorded at the time of the sales transaction is also known as gross sales since there may be subsequent subtractions for sales returns, sales allowances, and early payment discounts. (Gross sales minus these subtractions results in the amount of net sales.)

An accounting period is a period of time such as the 12 months of January 1 through December 31, or the month of June, or the three months of July 1 through September 30. It is the period for which financial statements are prepared. For example, the income statement and the cash flow statement report the amounts occurring during the accounting period, and the balance sheet reports the amounts of assets and liabilties as of the final moment of the accounting period.

Revenues and gains minus expenses and losses.

The recorded amount of accounts receivable minus the allowance for doubtful accounts.

The combination of the cash inflows and the cash outflows from a company's operations (activities outside of its investing and financing activities).

Assets are sometimes defined as resources or things of value that are owned by a company. Some examples of assets which are obvious and will be reported on a company's balance sheet include: cash, accounts receivable, inventory, investments, land, buildings, and equipment.