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Principles of Financial Accounting 1

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

By: Tracy flotte
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Decks in this class (11)

Chapter 1 Accounting and the Business Environment
Why is accounting important,
What are the 2 major fields of ac...,
What are the organizations and ru...
15  cards
Chapter 2 Recording Business Transactions
What is an account,
What are common asset accounts,
What are common liability accounts
32  cards
Chapter 3 The Adjusting Process
What is the difference between ca...,
What concepts and principles appl...,
What are adjusting entries and ho...
19  cards
Chapter 4 Completing the Accounting Cycle
How do we prepare financial state...,
What is a classified balance sheet,
How could a worksheet help in pre...
18  cards
Chapter 5 Merchandising Operations
What are the merchandising operat...,
What are the 2 main types of inve...,
How are purchases of merchandise ...
40  cards
Chapter 6 Merchandise Inventory
What are the accounting principle...,
What is the consistency principle,
What is the disclosure principles
16  cards
Chapter 7 Internal Control and Cash
What is internal control and how ...,
What are the 5 components of inte...,
What are the internal control pro...
43  cards
Chapter 8 Recievables
What is a receivable,
What are the 3 major types of rec...,
How are credit sales recorded
22  cards
Chapter 9 Plant Assets, Natural Resources, and Intangibles
How does a business measure the c...,
What are the 2 additional types o...,
What is depreciation and how is i...
41  cards
Chapter 10 Investments
Why do companies invest,
What are trading investments,
What are held to maturity investm...
29  cards
Chapter 11 Current Liabilites and Payroll
How are current liabilities of kn...,
How do companies account for and ...,
How are current liabilities that ...
21  cards

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Principles of Financial Accounting 1

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