This class was created by Brainscape user Connor Mills. Visit their profile to learn more about the creator.
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Connor Mills
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Decks in this class (11)
1: Intro to accounting
What is accounting,
What are the three main types of ...,
Who are the primary users of fina...
19
cards
2: The accounting equation
What is an asset,
What is a liability,
What is capital
7
cards
3: Computerised accounting systems
Give 4 advantages of computerised...,
What are the 3 elements of comput...,
What are the 4 elements within a ...
11
cards
4: Ledger accounting and double entry
What are ledgers,
What is the nominal ledger,
What is the duality concept
6
cards
5: Preparing basic financial statements
When balancing all the ledger acc...,
What is in the statement of finan...,
What is a trial balance
3
cards
6: Errors and corrections to accounting records and financial statements
What is a contra,
How to record customer return goods,
What is a suspense account
9
cards
7: Cost of sales and inventory
What is carriage inwards vs outwards,
What is the equation for cost of ...,
Give examples of cost of sales fo...
10
cards
8: Irrecoverable debts and allowances
What are irrecoverable debts,
What is the double entry journal,
What is the entry in the rare sit...
6
cards
9: Accruals and Prepayments
What are accruals,
What are prepayments and the doub...,
How to reverse opening accrual
7
cards
10: Non-current assets and depreciation
What is the double entry for non ...,
What is included in the cost of a...,
What is a nca s life span known a...
20
cards
11: Company financial statements
Where are dividends charged to fo...,
Where are dividends chargede ti f...,
3
cards
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Accounting
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