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AFM211 Financial Accounting

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

By: Emily Nilsen
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Decks in this class (14)

Topic 1 - Definitions
The iasbs aasbs conceptual framew...,
Why is the conceptual framework u...,
What is the definition of assets
11  cards
Topic 1 - Introduction / Revision
What are debits and credits,
Which sides of a t account are de...,
What is the accounting equation
29  cards
Topic 2 - Accounting for Assets
Define assets,
What are the recognition criteria...,
What is the 2 step process when a...
16  cards
Topic 2 - Depreciation of Non-Current Assets
What is depreciation,
What are the three important ques...,
Define the depreciable amount
13  cards
Topic 2 - Intangible Assets
What are intangible assets,
What are some examples of identif...,
What are some examples of unident...
16  cards
Topic 2 - Asset Revaluation Impairment
What is included in the cost of p...,
How must all ppe be initially valued,
How may subsequent valuations be ...
22  cards
Topic 3 - Accounting for Inventory
What is inventory,
Quantas uses its planes to provid...,
A hairdresser uses shampoo to was...
20  cards
Topic 4 - Accounting for Liabilities
Differentiate between the three t...,
What is the definition of a liabi...,
What is the recognition criteria ...
12  cards
Topic 4 - Accounting for Leases
Define the term lease,
Define the term underlying asset,
Define the term lessor
38  cards
Topic 5 - Owners Equity and Reserves
What is equity and which accounts...
1  cards
Topic 5 - Accounting for Equity and Debt Overview
Entities usually prefer to have h...,
For some items it is difficult to...,
The accounting decision for redee...
4  cards
Topic 5 - Accounting for Equity and Debt Debentures
What are debentures bonds,
Debentures bonds can be issued so...,
Differentiate between the coupon ...
14  cards
Topic 7 - Company Income Taxes
What do basic financial accountin...,
The valuation recognition of asse...,
What do the differences between a...
12  cards
Topic 8 - Statement of Cash Flows
Why is a statement of cash flows ...,
Define the terms cash and cash eq...,
What are the three different comp...
21  cards

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AFM211 Financial Accounting

  • Class purpose General learning

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