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Grade 10 Accounting

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

By: Mignon Sergeant
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Decks in this class (21)

Difference between Accounting and Bookkeeping
Define bookkeeping,
Define accounting
2  cards
DAXCIL
What does daxcil stand for,
What are the 2 types of assets,
Name 3 non current assets
12  cards
Carriage, Division of ledger and Contra Entries
Define carriage,
Define carriage inwards,
Define carriage outwards
10  cards
Petty Cash Book
Define petty cash book
1  cards
Books of Prime Entry
Define prime entry,
Define sales journal,
Define sales returns journal
5  cards
Control Accounts
Define sales ledger control account,
Define purchases ledger control a...,
What are the 5 advantages of havi...
3  cards
Accounting principles
Define business entity principle,
Define consistency principle,
Define principle of duality
14  cards
International accounting standards
What are the 4 ways that the qual...,
Define comparability,
Define relevance
5  cards
Stock valuation
What must inventory be valued at,
Define cost price,
E
3  cards
Bank reconciliation statements
Define bank statement,
What are the 5 items not recorded...,
What are the 3 stages in bank rec...
4  cards
Income Statement
What are the 2 sections of an inc...,
What does the layout of an income...,
What does the layout of an income...
3  cards
Balance sheet/ Statement of financial position
What does the layout of an balanc...
1  cards
Accrued and Prepaid Expenses
Define accrued expenses,
Define prepaid expenses
2  cards
Depreciation
Define depreciation,
What are the 2 accounting princip...,
What are the 4 causes of deprecia...
8  cards
Bad Debts
Define bad debt,
Define bad debts recovered,
How to reduce bad debt
4  cards
Ratios
What are the 3 profitability ratios,
What is the formula for return on...,
What are the two ways that capita...
25  cards
Manufacturing accounts
Define direct material,
Define direct labour,
Define direct expenses
6  cards
Profit And Loss Appropriation Account
What is the layout of the profit ...,
What are the 3 ways to share profit
2  cards
Partnerships
What is the layout of the current...,
What is the layout of the stateme...
2  cards
Clubs
Define club,
Define subscriptions,
Describe the receipts and payment...
7  cards
Limited Companies
Define limited company,
Define issued capital,
Define called up capital
9  cards

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Grade 10 Accounting

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