CFAS (Certified Financial Accounting Specialist):
1. Certification: Getting official recognition for being good at financial accounting.
2. Financial Accounting: Keeping track of a company's money and making
reports for people outside the company.
3. Accounting Principles: Rules for how to do financial accounting properly.
4. Financial Statements: Reports that show how well a company is doing
financially.
5. Reporting: Sharing financial information with others through reports.
6. Examination: A test to see if you know enough about financial accounting to
get certified.
7. Professionalism: Acting responsibly and ethically in financial accounting work.
8. Ethics: Doing financial accounting honestly and fairly.
9. Competency: Being good at financial accounting tasks.
10. Continuing Education: Learning more about financial accounting even after
getting certified.
FAR (Financial Accounting and Reporting):
1. Financial Statements: Reports that show how much money a company has
and how it's doing financially.
2. Generally Accepted Accounting Principles (GAAP): Standard rules for
preparing financial statements.
International Financial Reporting Standards (IFRS): Global rules for making
financial statements.
3. Accounting Standards: Guidelines for how to make financial statements.
4. Balance Sheet: A report showing what a company owns and owes at a certain
time.
5. Income Statement: A report showing how much money a company earned
and spent over a period.
6. Statement of Cash Flows: A report showing where a company's money came
from and where it went.
7. Statement of Changes in Equity: A report showing how a company's
ownership changed over time.
8. Disclosure: Sharing important financial information with others.
9. Consolidation: Combining financial information from different parts of a
company into one report.
