Certified Public Accountant A Certified Public Accountant (CPA) is a professional designation given to accountants who have passed the Uniform CPA Examination and met additional state certification and experience requirements. CPAs are qualified to perform a range of accounting, auditing, tax, and consulting tasks for individuals, businesses, and governments. CPAs play a pivotal role in
Certified Management Accountant (CMA) A Certified Management Accountant (CMA) is a professional designation awarded by the Institute of Management Accountants (IMA) that signifies expertise in financial management and strategic business performance. CMAs specialize in areas such as financial planning, analysis, control, decision support, and professional ethics, equipping them with the skills to enhance business strategy
Certified Financial Statement A certified financial statement is a financial report that has been audited and validated by an independent certified public accountant (CPA) or audit firm. It assures the accuracy and reliability of the information presented, reflecting the true financial condition and performance of a business. Businesses use certified financial statements to provide stakeholders,
Certified Check A certified check is a personal check written by an account holder that has been verified and guaranteed by the issuing bank. The bank certifies that the signature on the check is genuine and that the account holder has sufficient funds in their account to cover the check amount, which are then set
Certificate of Deposit A Certificate of Deposit (CD) is a financial product offered by banks and credit unions that provides an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for a predetermined period. It is a time-bound deposit that restricts access to the funds but offers a higher
Cashless Stock Option A cashless stock option is a method used by employees or executives to exercise stock options without the need to initially provide the cash to buy the shares. Instead, a portion of the shares is sold immediately upon exercise to cover the exercise cost and, often, the taxes due, with the remaining
Cashier’s Check A cashier’s check is a type of check issued by a bank or financial institution that guarantees the amount because it is drawn against the bank’s own funds, rather than the personal account of a customer. This makes it a more secure form of payment, as the recipient can trust that the check
Cash Voucher A cash voucher is a document that evidences a transaction involving the payment or receipt of cash. It serves as a formal accounting record, detailing the date, amount, parties involved, and purpose of the transaction, used to authorize and document cash payments or receipts in a business’s financial records. In business, cash vouchers
Cash Transaction A cash transaction is a financial exchange where payment for goods or services is made immediately using cash or cash equivalents, such as currency, checks, or electronic transfers. Unlike credit transactions, cash transactions settle the payment instantly at the point of sale or service delivery, leaving no outstanding receivables or payables. In business,
Cash to Cash Cycle The cash to cash cycle, also known as the cash conversion cycle (CCC), is a financial metric that measures the time it takes for a company to convert its investments in inventory and other resources into cash flows from sales. It encompasses the duration from when a company pays out cash