Accountancy | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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Interest rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Tax accounting

A structure of accounting methods focused on taxes rather than the appearance of public financial statements.

IRS - Internal Revenue Service

Is the U.S. federal agency that oversees the collection of taxes—primarily income taxes—and the enforcement of tax laws.

Finances

The management of large amounts of money, especially by governments or large companies.

Financial statements

Are the balance sheet, the income statement, and the cash flow statement.

Assurance services

A common validation service offered by accounting and finance professionals, which ensure the calculations behind a review are valid.

Audit

An official inspection of an individual's or organization's accounts, typically by an independent body.

Taxes

A tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses.

Accounting Firm

A group of accounting professionals that provides clients with financial management services.