Accounting Misc Flashcards
Bank reconciliation category?
Cash
Billing category?
AR
Inventory reconcilaition category?
Inventory
Depreciation category?
PPE
Book all vendors category?
AP
Accrue expenses category?
Liability
Reconcile deferred revenue category?
Liability
Stock option activity category?
Equity
Rent or deferred rent category?
Operating expenses
Record payroll category?
Operating expenses
Travel expenses category?
Operating expenses
Accrue taxes category?
Non-operating expenses
Record interest expense category?
Non-operating expenses
Xlookup syntax?
Lookup value, lookup array, return array
Bank loan?
Non-current liability
Another name for deferred revenue?
Revenue in advance
Outstanding expenses?
Current liability
Outstanding income?
Current asset
Deferred revenue?
Current liability
Accrued income?
Current asset
Accrued expenses?
Current liabiltiy
Accrue said simply?
Gradually build up or accumulate over time
Accrued income example?
Service provided but not yet billed for
Accrued expense example?
Unpaid bills or wages owed to employees for work already performed
Accrued income meaning?
Income that has been earned but not yet received
Accrued expense meaning?
Costs that gradually accumulate over time but haven’t been paid yet
Deferred expense?
Non-current asset
Payroll expenses?
Operating expenses
Pension fund?
Equity
Sundry debtors?
Current assets
Unclaimed dividend/
Liability
Preference shares?
Equity
