This class was created by Brainscape user Harry Lockyer. Visit their profile to learn more about the creator.
By:
Harry Lockyer
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- flashcards
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Decks in this class (15)
Introduction To Accounting
Purpose of capital expenditure,
Purpose of revenue expenditure,
Capital expenditure recognised
23
cards
Double Entry
Balancing off a ledger account pr...,
Carrying forward the drawings led...,
Carrying forward the profit and l...
3
cards
Preparing Financial Statements: Other Considerations
Sales return double entries,
Purchase return de,
2 types of discount
5
cards
The Conceptual Framework, Accounting Concepts And Conventions
Objective of financial statements...,
Qualitative characteristics of fi...,
Relevance
38
cards
Cost Of Sales, Accruals And Prepaymenrs
Closing inventory de,
To which account is opening inven...,
Gross profit
22
cards
Inventory
Closing inventory de,
When is only recorded in the acco...,
How is closing inventory found out
19
cards
Accoutning Systems And VAT
Sales cycle,
Purchases cycle,
Documents that have accounting ef...
28
cards
Reconciliations
Receivables contra entries,
Payables contra entries,
Contra
21
cards
Non-Current Assets And Depreciation
Cost of non current assets defini...,
Non current asset cost includes,
Non current asset cost doesn t in...
49
cards
Irecoverable Debts And Allowances
Signs a debt may be irrecoverable,
Is the original sale of an irreco...,
Irrecoverable debt expense de
16
cards
Errors And Suspense Accounts
The two categories of errors,
Errors where the tb still balances,
Error of omission
16
cards
Partnership Financial Statements
How profit shared when no partner...,
Extra statement for partnership,
Accounts that each partner has
35
cards
Company Financial Statements
Ias 1 company statement of profit...,
Finance cost,
Investment income
81
cards
UK GAAP
Who must prepare fs under interna...,
Who can prepare fs under uk gaap,
What is uk gaap made of
33
cards
Statement Of Cash Flows
Net cash flow,
Arguably most important for going...,
Benefits of statements of cash flows
33
cards
More about
AC
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