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Accounting

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

By: Trey Leatherman
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Decks in this class (13)

Lesson 1 (Intriduction & Financial Statements
What is this a set of accounting ...,
What are these 1 balance sheet2 i...,
What is this the financial statem...
59  cards
Lesson 2 & 3 (Transaction Analysis)
What is accrual accounting based on,
The two foundation accounting pri...,
The realization principle states
69  cards
Lesson 4 (Adjusting and Closing Process)
Revenues are recorded in the period,
Expenses are recognized in the pe...,
What is this are journal entries ...
44  cards
Lesson 6 (Accounts Receivable)
Which financial statement account...,
Which financial statement account...,
The realization principle states ...
37  cards
Lesson 7 (Inventory)
Which financial statement account...,
Which financial statement account...,
When do the inventory costs get e...
39  cards
Lesson 8 (Statement of Cash Flows)
Shows the changes in cash for the...,
How does the statement of cash fl...,
The cash inflows and outflows cat...
27  cards
Lesson 9 (Investments)
At year end make an adjusting ent...,
The mark to market adjustment is ...,
1 when investments is acquired re...
11  cards
Formulas
Balance sheet equation,
Income statement equations,
Net sales revenue equation
38  cards
Lesson 11 (Time value of money)
Measurement and recording of liab...,
Time value of money,
Earns interest on the principle i...
26  cards
Lesson 12 (PPE)
What are the 4 accountable events...,
At what amounts should ppe be rec...,
Examples of costs incurred in get...
44  cards
Lesson 13 (Debt Financing)
To spread the loan payments betwe...,
A contract that specific the term...,
The party that is granted the rig...
20  cards
Lesson 14 (Equity Financing)
What are the two different ways a...,
Loans repay with interest liable ...,
No responsibility to repay invest...
51  cards
Exam 3 Formulas
Future value equation,
Present value equation,
Future value factors equation
25  cards

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Accounting

  • Class purpose General learning

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Accounting
  • 30 decks
  • 864 flashcards
  • 12 learners
Decks: Exam 3, Chapter 2, Chapter 3, And more!
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