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Koh Yun Xiang
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Decks in this class (16)
Chapter 1 Introduction to accounting
Give example of a trading and ser...,
Explain the difference between tr...,
Explain the role of accounting
49
cards
Chapter 2 Accounting information system
Explain the difference between ca...,
Why business buy on credit instea...,
State the four stages of an accou...
14
cards
Chapter 3 Elements of financial statement and the accounting equation
Define assets,
Define liabilities,
Define equity
11
cards
Chapter 4 double entry recording
Define trade discount,
State the purpose of trade discount,
Define cash discount
5
cards
Chapter 5 Trial Balance
Define a trial balance,
Explain the purpose of trial balance,
Explain the limitation of a trial...
11
cards
Chap 6 and 7 Income and Expenses
Define the term income,
Explain the difference between re...,
State and explain the accounting ...
11
cards
Chapter 8 Cash
Explain the term dishonoured cheque,
State the reason for dishonoured ...,
State the purposes of internal co...
10
cards
Chapter 9 Inventory
Define the term inventories,
Describe how a business manages i...,
Explain the first in first out me...
7
cards
Chapter 10 Trade Receivables
Define the term trade receivables,
Why do businesses grant credit to...,
Explain the term allowance for im...
8
cards
Chapter 11 NCA part 1
Define the term non current assets,
Capital expenditure definition,
Revenue expenditure definition
5
cards
Chapter 11 NCA part 2
Define the term depreciation,
Using an appropriate accounting t...,
What are the causes of depreciation
7
cards
Chapter 12 Trade Payables
Define the term trade payables,
Explain why businesses buy on cre...,
Explain the differences between t...
3
cards
Chapter 13 LTB
Define the term long term borrowings,
Define the term current portion o...,
Define the term bank overdraft
7
cards
Chapter 14 Equities
Define the term equity,
Define the term capital,
Define the term drawings
10
cards
Chapter 15 Correction of Errors
Explain the limitation of a trial...,
Explain how errors could still ex...,
State five examples of errors tha...
3
cards
Chapter 16 Financial Statement Analysis
Define the term profitability,
Explain why is it important for a...,
State ways to improve profitability
13
cards
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POA
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