Classifications of Financial Elements Flashcards
Sales
Revenue/Income
Fees
Revenue/Income
Commission Received
Other Income
Gain on sale of a fixed asset
Other Income
Interest Received
Other Income
Rent Received
Other Income
Discount Received
Other Income
Dividends Received
Other Income
Advertising
Distribution Cost
Cartage Outwards
Distribution Cost
Commission
Distribution Cost
Delivery Expenses
Distribution Cost
Depreciation on Shop Fittings
Distribution Cost
Depreciation on Delivery Vehicles
Distribution Cost
Freight Outwards
Distribution Cost
Repairs to Delivery Vehicles
Distribution Cost
Repairs and Maintenance (Shop Fittings)
Distribution Cost
Sales Wages and Salaries
Distribution Cost
Travelling Expenses
Distribution Cost
Loss on Sale of Distribution Assets
Distribution Cost
Accounting Fees
Administration Expenses
Audit Fees
Administration Expenses
Depreciation (other than Shop Fitting or Delivery Vehicles)
Administration Expenses
Electricity
Administration Expenses
General Expenses
Administration Expenses
Insurance
Administration Expenses
Office Expenses
Administration Expenses
Postage
Administration Expenses
Printing
Administration Expenses
Rates
Administration Expenses
Rent
Administration Expenses
Repairs and Maintenance (other than to Shop Fittings or Delivery Vehicles)
Administration Expenses
Office Salaries
Administration Expenses
Stationary
Administration Expenses
Telephone and Tolls
Administration Expenses
Vehicle Expenses (other than Delivery Vehicles)
Administration Expenses
Office Wages
Administration Expenses
Donations
Administration Expenses
Loss on Sale of Asset
Administration Expenses
Interest on Loan
Financial Expenses
Interest on Overdraft
Financial Expenses
Interest on Hire Purchases
Financial Expenses
Bank (if a positive balance)
Current Asset
Petty Cash
Current Asset
Accounts Receivable
Current Asset
Prepayments
Current Asset
Accrued Revenue
Current Asset
Closing Inventories
Current Asset
Property, Plant and Equipment (e.g. Equipment, Buildings, Property, Vehicles, Plant (Machinery)
Non-Current Asset
Investments (e.g. Shares in other companies, Long term monies held in investment accounts, Debentures)
Non-Current Asset
Intangible Assets (e.g. Goodwill, Patents, Royalties, Research and Development costs)
Non-Current Asset
Bank Overdraft
Current Liability
Accounts Payable
Current Liability
Accrued Expenses
Current Liability
Revenue Received in Advance
Current Liability
Loans - the current position (i.e., those who will be paid back within the next Accounting Period
Current Liability
GST
Current Liability
Loans (Those that extend beyond the next Accounting Period)
Non-Current Liability
Hire Purchase of Property, Plant and Equipment
Non-Current Liability
Mortgages (loans over property)
Non-Current Liability
Debentures (monies borrowed from external sources, that have a set interest rate and will be paid back after the time limit has expired)
Non-Current Liability
