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Laura Brady
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Decks in this class (39)
U3, AOS 1 - KK1 - Accounting Assumptions
Accounting entity assumption 1,
Going concern assumption 2,
Period assumption 3
8
cards
U3, AOS 1 - KK1 - Qualitative Characteristics
Relevance 1,
Faithful representation 2,
Verifiability 3
6
cards
U3, AOS 1 - KK2 - Source Documents
What is the purpose of accounting...,
True or false source documents ar...,
Fill in the blank a ________ is a...
20
cards
U3, AOS 1 - KK3 - Accounting Elements
Current asset 1,
Non current asset 2,
Current liability 3
21
cards
U3, AOS 1 - KK4 - Classification of Assets & Liabilities
Cost of a non current asset 1,
Reducing balance method of deprec...,
Conflict created by depreciation 3
12
cards
U3, AOS 1 - KK5 - Accounting Equation
What is the accounting equation 1,
True or false the accounting equa...,
Fill in the blank in the accounti...
15
cards
U3, AOS 1 - KK6 - Entries in the GL
Type of account asset 1,
Type of account liability 2,
Type of account owners equity 3
12
cards
U3, AOS 1 - KK7 - GST Clearing
What does gst stand for 1,
True or false the gst clearing le...,
Fill in the blank the gst clearin...
16
cards
U3, AOS 1 - KK8 - Recording in the GL & GJ
What is a general journal 1,
True or false the general ledger ...,
Fill in the blank the process of ...
20
cards
U3, AOS 1 - KK9 - Pre-Adj Trial Balance
What is a pre adjustment trial ba...,
True or false the pre adjustment ...,
Fill in the blank the purpose of ...
15
cards
U3, AOS 1 - KK10-12 - Accounting for Inventory
Perpetual inventory system of rec...,
Narration for an transaction invo...,
Cost assignment method 3
20
cards
U3, AOS 1 - KK13 - Internal Control Procedures
Internal control procedures relat...,
Internal control procedures relat...
2
cards
U3, AOS 1 - KK14 - Financial indicators
What does wcr stand for in financ...,
True or false a higher wcr indica...,
Fill in the blank the formula for...
21
cards
U3, AOS 1 - KK15 - Non-financial indicators
What are non financial indicators 1,
True or false non financial indic...,
Name one example of a non financi...
17
cards
U3, AOS 1 - KK16 - Strategies to improve inventory management
What is inventory management 1,
True or false just in time jit in...,
Which inventory management strate...
16
cards
U3, AOS 1 - KK17 - Ethical Considerations
What is ethical inventory managem...,
True or false ethical considerati...,
Fill in the blank one major ethic...
20
cards
Accounting Reports
Cash flow statement 1,
Cash flows from operating activit...,
Cash flows from investing activit...
13
cards
Balance Day Adjustments
Balance day adjustments 1,
Pre adjustment trial balance 2,
Post adjustment trial balance 3
13
cards
Budgeting
Budgeting 1,
Purposes of budgeting planning 2,
Purposes of budgeting control 3
18
cards
Evaluating Business Performance - Profitability
Debt ratio 1,
Return on owner s investment 2,
Return on assets 3
21
cards
Evaluating Business Performance - Liquidity
Accounts payable turnover formula...,
Accounts receivable turnover form...,
Managing strategies to improve ac...
14
cards
U3, AOS 1 - KK11 - Cost vs. NRV
Q define the lower of cost or net...,
Q what is the formula for net rea...,
Q what are some reasons why the n...
13
cards
U3, AOS 2 - CFS
What is the primary purpose of a ...,
Which three main activities are r...,
True or false cash flow from oper...
21
cards
U3, AOS 2 - Uses of a CFS
What is the primary purpose of a ...,
True or false a cash flow stateme...,
Fill in the blank a cash flow sta...
12
cards
U3, AOS 2 - Transferring Drawings
What is the purpose of transferri...,
True or false drawings increase t...,
What is the first step in the pro...
16
cards
U3, AOS 2 - Closing the ledger
What is the primary purpose of cl...,
True or false the p l summary acc...,
Fill in the blank the process of ...
19
cards
U3, AOS 2 - Cash vs. Profit
What is the primary difference be...,
True or false profit can exist wi...,
Fill in the blank __________ is a...
20
cards
U3, AOS 2 - Reports
What is the primary purpose of a ...,
True or false the income statemen...,
Fill in the blank the cash flow s...
20
cards
U4, AOS 1 - Prepaid Expenses
What are prepaid expenses 1,
True or false prepaid expenses ar...,
Give an example of a prepaid expe...
20
cards
U4, AOS 1 - Accrued Expenses
What is an accrued expense 1,
True or false accrued expenses ar...,
Provide an example of an accrued ...
20
cards
U4, AOS 1 - Trial Balance
What is a trial balance 1,
True or false a trial balance can...,
Fill in the blank the primary pur...
20
cards
U4, AOS 1 - SL Depreciation
What is straight line depreciation 1,
True or false straight line depre...,
Fill in the blank the formula for...
20
cards
U4, AOS 1 - RB Depreciation
What is reducing balance deprecia...,
What is the primary purpose of re...,
True or false reducing balance de...
19
cards
U4, AOS 1 - Disposal of a NCA
What is the purpose of disposing ...,
True or false non current assets ...,
Fill in the blank the process of ...
19
cards
U4, AOS 1 - Trade in of a NCA
What is a non current asset 1,
What does trade in refer to in th...,
True or false non current assets ...
17
cards
U4, AOS 1 - Allowance for Doubtful Debts
What is the primary purpose of cr...,
True or false an allowance for do...,
Fill in the blank the allowance f...
20
cards
U4, AOS 1 - Bad Debts
What is a bad debt 1,
True or false bad debts are alway...,
What is the purpose of recognizin...
20
cards
U4, AOS 1 - Unearned Revenue
What is the definition of unearne...,
True or false unearned revenue is...,
Fill in the blank unearned revenu...
19
cards
U4, AOS 1 - Accrued Revenue
What is accrued revenue 1,
True or false accrued revenue is ...,
Fill in the blank accrued revenue...
19
cards
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Unit 3/4: Accounting (2025)
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