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Balance Sheet

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

By: Naomi Hilton
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Decks in this class (10)

Nature and Purpose of the Balance sheet
What is a balance sheet,
What does a balance sheet show,
Asset
6  cards
Assets
What is an asset,
Characteristics for an asset,
Recognition of an asset
5  cards
Liabilities
What is a liability,
Essential characteristics of a li...,
Recognition of liabilities
6  cards
Equity
What is equity,
Recognition of equity,
Types of equity
9  cards
Format and presentation of the balance sheet
A group,
Concept of parent entity and group,
Underlying principles assumptions
7  cards
Current and non-current assets and liabilities
What is the distinction between c...,
Current assets,
Non current
3  cards
Measurement of assets and liabilities
What are carrying amounts or book...,
Alternative measurement systems i...,
Historical cost
8  cards
Measuring receivables
What are the carrying amount of r...,
What is allowance for doubtful de...,
How are receivables shown on bala...
3  cards
Measuring inventory
What must the carrying value of i...,
Why does measuring inventory at c...,
2 cost assumptions permitted unde...
4  cards
Measuring non-current assets
What is depreciation,
How are depreciable assets shown ...,
Exceptions of non current assets
7  cards

More about
Balance Sheet

  • Class purpose General learning

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