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glen Unknown
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Decks in this class (21)
Accounting Theorys
Accounting entity,
Monetary,
Going concern
12
cards
Chpt 1
Role of accounting,
Role of accountants,
Integrity
9
cards
Chpt 2
Diff between cash and credit tran...,
Accounting cycle,
Order of accounting info
6
cards
Source Documents
Receipt,
Invoice,
Credit note c oconut
7
cards
Chpt 3
Define assets,
Define assets,
Define liabilities
9
cards
Chpt 4
Difference between trade and cash...,
Difference between discount allow...
2
cards
Chpt 5
Define trial balance,
Purpose of a trial balance,
Limitation of a trial balance
12
cards
Chpt 6
Define income,
Difference between revenue and ot...,
Theory when accounting for revenue
6
cards
Chpt 7
Define expenses,
Difference between cost of sales ...,
Difference between cost of sales ...
9
cards
Chpt 8
Define dishonoured cheque,
Reasons for dishonoured cheque,
Purpose of internal control
12
cards
Chpt 9
Define inventories,
How business manages inventories,
Difference between inventories an...
10
cards
Chpt 10
Define trade receivables,
Explain why business grant credit...,
Explain allowance for impairment ...
8
cards
Chpt 11
Define depreciation,
Accounting theory applied when ch...,
Accounting theory applied when ch...
5
cards
Chpt 13
Define long term borrowings,
Define current portion of long te...,
Define bank overdraft
5
cards
Chpt 14
Define equity,
Define capital,
Define drawings
10
cards
Chpt 15
Limitation of a trial balance,
1,
2
7
cards
Profitability
Define profitability,
Why is it important for a busines...,
Goss profit margin
7
cards
Liquidity
Define liquidity,
Working capital,
Problems that a business might fa...
9
cards
Owner Types
Features of plc,
Features of sp,
Features of llp
4
cards
Inventory management
Define efficiency in inventory ma...,
Importance of inventory management,
Consequence of excess inventory
8
cards
Trade receivables
Define efficiency in trade receiv...,
Why it is important for a busines...,
Rate of trade receivables turnover
5
cards
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Poa
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