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Accounting Principles Channel

This class was created by Brainscape user John Loyd Billano. Visit their profile to learn more about the creator.

By: John Loyd Billano
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Decks in this class (14)

Lesson 1: Organizing a Business
Based on the capitalization where...,
Forms of business organization on...,
Forms of business organization tw...
14  cards
Lesson 2: Generally Accepted Accounting Principles
Governs financial transaction,
It is ideal for the persons doing...,
Entity person the business is con...
9  cards
Lesson 3: Definition of Accounting
Service activity its function is ...
1  cards
Lesson 4: Overview of the Accounting Equation and Accounting Cycle
Accounting equation,
Where capital,
Accounting cycle
7  cards
Lesson 5: Understanding the Basic Accounting Equation
Rule of debit and creditincrease ...,
Rule of debit and creditdecrease ...,
Accounting equation
7  cards
Lesson 6: Operating Cycle of a Merchandising Business
It is an original record which co...,
It is a document supporting the a...,
What are the source documents
15  cards
Lesson 7: Stages of Accounting Cycle
What are the transactions indicat...,
These are events or occurrences w...,
Examples of accounting transactions
8  cards
Lesson 7.1 Account Title: Asset
Account title under asset checkin...,
Account title under asset amounts...,
Account title under asset cost of...
11  cards
Lesson 7.2 Account Title: Liabilities
Account title under liabilities t...,
Account title under liabilities a...,
Account title under liabilities a...
6  cards
Lesson 7.3 Account Title: Revenue
Revenue for service business amou...,
Revenue accounts for merchandisin...,
Revenue accounts for merchandisin...
4  cards
Lesson 7.4 Account Title: Expenses
Account title under expenses expe...,
Account title under expenses expe...,
Account title under expenses cost...
7  cards
Lesson 7.5 Account Title: Expense Accounts for Merchandising and Manufacturing Businesses
Expense accounts for merchandisin...,
Expense accounts for merchandisin...,
Expense accounts for merchandisin...
8  cards
Lesson 7.6 Account Title: CAPITAL for Business Organization
Capital for sole proprietorship a...,
Capital for sole proprietorship a...,
Capital for partnership amount th...
10  cards
Lesson 8 Operating Cycle of Merchandising Business
Types of sales
1  cards

More about
Accounting Principles Channel

  • Class purpose General learning

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