Kinn’s chapter 24: Financial And Practice Management km

accounts payable
Debts incurred and not yet paid
accounts receivable
Amounts owed to the physician
accounts receivable trial balance
a method of determining that the journal and the ledger are in balance
accrual basis of accounting
A method of accounting in which income is recorded when earned and expenses are recorded when incurred
assets
The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts
balance sheet
A financial statement for a specific date that shows the total assets, liabilties, and capital of the business
bookkeeping
The recording of business and accounting transactions
cash basis of accounting
A method of accounting in which income is recorded when received and expenses are recorded when paid
cash flow statement
A financial summary for a specific period that shows the beginning balance on hand, the receipts and disbursements during the period, and the balance on hand at the end of the period
controls
A standard of comparison to make sure answers obtained are accurate
disbursements journal
A summary of accounts paid out
entry
A record or notation of an occurence, transaction, or proceeding
equities
The monetary value of a property or of an interest in a property in excess of claims or liens against it
in balance
The state in which the total ending balances of patient ledgers equals the total of accounts receivable
invoice
A paper describing a purchase and the amount due
liabilities
Things that are owed; debts
petty cash fund
A fund maintained to pay small, unpredictable cash expenditures
statement
A request for payment
subsidiary
Supporting other documents or records
trial balance
A method of checking the accuracy of accounts
packing slip
An itemized list of articles included in a shipping package, giving the quantity and description of the package contents
admonition
Counsel or warning against fault or oversight