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Accounting Units 1 and 2

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

By: Thisal Gamage
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Decks in this class (15)

Accounting
What is the accounting equation 1,
Assets 2,
Examples of an asset 3
58  cards
The balance sheet
Current asset 1,
Non current asset 2,
Current liability 3
4  cards
Chapter 6: Source Documents
Single entry accounting 1,
Cash journals 2,
How are the columns of cash journ...
29  cards
Chapter 7: Cash accounting for service businesses
Main source documents used to ver...,
Main source documents used to ver...,
Journal 3
15  cards
The Cash Flow Statement
Cash flow statement 1,
Operating activities 2,
Investing activities 3
4  cards
Chapter 9: Credit Transactions
Credit transaction 1,
Cash transactions 2,
Sales invoice 3
14  cards
Chapter 10: Reporting for a service business
Revenue 1,
Expense 2,
The income statement 3
21  cards
Return on Owner's Investment (ROI)
Roi 1,
What does roi assess 2,
Formula to calculate roi 3
3  cards
Unit 2 Chapter 11: Trading Firms and inventory
Trading firms 1,
Inventory 2,
Perpetual inventory system 3
28  cards
Unit 2 Chapter 12: Reporting and Managing inventory
Net sales 1,
Cost of goods sold 2,
Adjusted gross profit 2
13  cards
Unit 2 Chapter 13: Accounts payable for a trading business
Credit terms 1,
Explain the term credit transacti...,
Identify the source document used...
20  cards
Unit 2 14: Accounts receivable for a trading business
Credit sale 1,
Accounts receivable record 2,
Accounts receivable schedule 3
11  cards
Unit 2 Chapter 15: Reporting for trading firms and managing accounts payable and accounts receivable
Accrual accounting 1,
Accounts payable turnover 2,
Accounts receivable turnover 3
12  cards
Unit 2 Chapter 16: Managing Non-current assets
Tangible assets 1,
Intangible assets 2,
Historical cost 3
21  cards
Unit 2 Chapter 16 (Broke Version)
Formula for roa 1,
Asset turnover formula 2,
Formula for depreciation rate 3
7  cards

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Accounting Units 1 and 2

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