Accounting 101

Clues in this puzzle

Across

• Compulsory levy imposed by the government on earnings (3)
• Inventory method assuming older stock is sold before newer stock (4)
• Single distinct unit of corporate ownership (5)
• Book or database containing all categorized financial accounts (6)
• Fixed charge for professional consulting services (3)
• Total income earned by selling merchandise or rendering services (7)
• Ease with which an asset can be converted into ready cash (9)
• Remaining figure after all deductions have been subtracted (3)
• Aggregate revenue figure prior to any subtractions or deductions (5)
• Inventory valuation rule matching recent production costs against sales (4)
• Internal documentary proof authorizing disbursement of cash (7)
• Money spent or cost incurred in an effort to generate revenue (7)
• Relating to financial matters and budgeting calendars (6)
• Left-hand entry in a double-entry accounting system (5)

Down

• Systematic examination of books to verify accuracy and compliance (5)
• Ongoing operating expenses not directly tied to making products (8)
• Most liquid asset consisting of currency on hand or in the bank (4)
• Gradual allocation of a tangible fixed asset's cost over its useful life (12)
• Possessing sufficient assets to cover all long-term debts (7)
• Unfavorable situation when expenses exceed incoming revenue (4)
• Money borrowed that must be repaid over time (4)
• Rate at which inventory or receivables are collected and replaced (8)
• Distribution of corporate earnings allocated directly to shareholders (8)
• Book of original entry where financial events are logged by date (7)
• Economic resource owned by an entity with expected future benefit (5)

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