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Accounting 1.1

This class was created by Brainscape user Ben Dawson. Visit their profile to learn more about the creator.

By: Ben Dawson
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Decks in this class (13)

Purposes of Accounting and Financial Statements
What is the purpose of accounting,
What is the achieved answer for t...,
What is the merit answer for the ...
6  cards
Users of the Income Statement
What decisions does a bank manage...,
What decisions does an employee m...,
What decisions does the ird make ...
6  cards
Accountants as a Career
What is a financial accountant,
What is an auditor,
What is the difference between a ...
11  cards
Business Structures
What is limited liability,
What is unlimited liability,
What is the difference between bu...
19  cards
Concepts-Achieved
What is the definition of account...,
What is the definition of monetar...,
What is the definition of reporti...
6  cards
Concepts-Merit Excellence
How does the accounting entity co...,
How does the accounting entity co...,
How does the accounting entity co...
13  cards
Users of a Cash Budget
Why does the bank manager want to...,
Why do the employees want to see ...,
Why does the ird want to see the ...
5  cards
Purposes of a Cash Budget
What is the purpose of a cash budget,
What are the components of a cash...,
What are some limitations of a ca...
3  cards
Purposes of the Statement of Financial Position
What is the purpose of the statem...,
What are the components of the st...,
What are the limitations of the s...
3  cards
Users of the Statement of Financial Position
Why does the bank manager want to...,
Why does the ird want to see the ...,
Why does the competitor want to s...
6  cards
Elements - Definitions
Define an asset,
Define a liability,
Define owners equity
5  cards
Capital and Revenue Expenditure
Define capital expenditure,
What are the three types of capit...,
Define revenue expenditure
3  cards
Depreciation
Define depreciation,
Why is depreciation an expense,
Why is depreciation a limitation ...
4  cards

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Accounting 1.1

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