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intro to financial accounting

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

By: Arianna Anderson
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Decks in this class (19)

chapter 1 review questions
External users,
Example of external users,
Internal users
25  cards
chapter 2 summary cheat sheet
Cash accounts receivable notes re...,
Cash,
Account receivable
11  cards
chapter 3 summary cheat sheet
Prepaid expenses,
When assets are used the advanced...,
Accumulated depreciation
31  cards
concept summary for exam 1
What are gaap,
The accounting equaiton is,
If you change one part of the acc...
33  cards
chapter 4 slides
Gross profit ratio formula
1  cards
chapter 4 notes
Merchandise,
Who earns income from products th...,
Wholesaler
35  cards
chapter 5 notes
Are damaged out of date goods rep...,
Net realized value,
Companies take phsyical account o...
16  cards
chapter 6 reading
Why do managers use internal cont...,
Blockchain,
I
21  cards
chapter 5 slides
Inventory turnover ratio,
What does inventory turnover rati...,
Days inventory on the shelf formula
4  cards
chapter 6 slides
Litigation,
Internal contols do what,
What are the basics of internal c...
21  cards
concept summary for exam 2
Gross profit ratio,
What does gross profit ratio tell...,
Revenue recognition guidelines
17  cards
chapter 7 reading
Receivable,
What are two common receivables,
Account receviable
37  cards
chapter 7 slides
Receivables turnover ratio,
Receivables turnover in days
2  cards
chapter 8 reading
Plant assets,
Plant assets are commonly used in,
4 issues accounting for plant assets
36  cards
chapter 9 reading
Liability,
Current liabilities short term,
What three questions do liabiliti...
22  cards
chapter 9 slides
Liabilities labeled by due dates,
Short term liabilities,
Long term liabilities
16  cards
chapter 8 slides
Examples of long lived assers,
What are two choices you have wit...,
Whats it mean to capitilize expen...
23  cards
chapter 10 reading
Installment note,
Who are installment notes common for,
Payment on installment note include
7  cards
chapter 11 reading
Corporation,
What are owners called in corp,
What are two types of corp
34  cards

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intro to financial accounting

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