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ACCT 1101

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

By: Elise Michael
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Decks in this class (18)

Decision Making + Role of Financial Accounting and Financial Statements for Decison Making
The dynamic environment of accoun...,
Steps in the decision making proc...,
When making decisions you must al...
39  cards
Recording Transactions
External transactions 1,
Internal transactions 2,
Non transactional events 3
18  cards
Accounting for Retailing
Inventory 1,
Income statement for retailers fo...,
Gst 3
17  cards
Accounting Systems
Operation of accounting systems 1,
Source documents 2,
Converting data to information 3
24  cards
Adjusting the Accounts and Preparing Financial Statements
Cash basis 1,
Accrual basis income including re...,
Accrual basis expenses 3
20  cards
Completing the Accounting Cycle
The complete accounting cycle dia...,
Closing temporary accounts 2,
The closing process 3
14  cards
Calculations
Sales revenue 1,
Net sales revenue 2,
Net cost of purchases 3
18  cards
Regulation And The Conceptual Framework
Purpose of the conceptual framewo...,
Step 1 of the framework 2,
Step 2 of the framework 3
27  cards
Cash Management and Control
Cash definition 1,
Principles of cash control 2,
Control of cash received through ...
20  cards
Statement of Cash Flows
Purpose of the statement of cash ...,
Format 2,
Concept of cash 3
8  cards
Receivables
Accounts receivable 1,
Bills receivable 2,
Bill of exchange 3
20  cards
Inventories
Performing a stocktake 1,
Transfer of ownership 2,
Goods on consignment 3
17  cards
Non-Current Assets: Acquisition and Depreciation
The nature of ppe 1,
Cost of ppe 2,
Operating lease 3
8  cards
Non-Current Assets: Revaluation, Disposal and Other Aspects
Upwards revaluation of assets 1,
Downwards revaluation of assets 2,
Derecognition of nca 3
11  cards
Liabilities
Definition of liabilities 1,
When liabilities are recognised 2,
Nature of provisions 3
12  cards
Preparation of Financial Statements
General reporting requirements 1,
External reporting requirements f...,
External reporting external repor...
4  cards
Analysis and Interpretation of Financial Statements
Sources of information 1,
Need for analytical techniques 2,
Horizontal analyses 3
10  cards
Ratios
Profitability ratios 1,
Liquidity ratios 2,
Financial stability ratios 3
5  cards

More about
ACCT 1101

  • Class purpose General learning

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