Auditing, inspecting and reporting on accounts and financial records, Revenue, Total income generated from sales of goods or services., Cost of Goods Sold, Direct costs attributable to the production of, Gross Profit, Revenue minus COGS., Accounting, Preparing financial statements showing income, expenses, assets, and liabilities., Bookkeeping, writing down the details of transactions (debits and credits), Cash flow statement, A statement showing money flowing in and out of a business through operating, investing, and financing activities., Income statement, A statement showing the difference between a period’s revenue and expenses., Balance sheet, A statement showing the value of a business’s assets, liabilities, and owners’ equity., GAAP, the abbreviated form of Generally Accepted Accounting Principles, IFRS, the abbreviated form of International Financial Reporting Standards, Net Income, The profit after all expenses have been deducted from revenue.

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