FAPS Level 3

This class was created by Brainscape user Jenna Lewis.

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Decks in this class (11)

Chapter 1: Double-entry Bookkeeping
What is the accounting equation 1,
What is the order in which a tran...,
Name the three books of prime ent...
6  cards
Chapter 2: Accounting for VAT and Payroll
What is input and output tax 1,
What would a debit or credit bala...,
When is vat calculated when trade...
6  cards
Chapter 6 & 14: The Extended Trial Balance
What is the purpose of an extende...,
What are the five steps to prepar...,
What do the spl credits and debit...
5  cards
Chapter 7: Underlying accounting principles
Name the six primary users of fin...,
Name and define the seven account...,
Name and define the six qualitati...
4  cards
Chapter 18: Interpretation of Profitability Ratios
Define profitability 1,
What is the formula for gross and...,
Define capital employed 3
4  cards
Chapter 8: Accounting for Inventory
How is inventory valued 1,
What are the journal entries to a...,
What are the journal entries to a...
7  cards
Chapter 11: Bank Reconciliations
Define bacs and chaps payments 1,
Define uncleared lodgements 2,
Define unpresented cheques 3
5  cards
Chapter 12: Accruals and Prepayments
What is the accruals concept 1,
What are the journal entries for ...,
What are the journal entries for ...
5  cards
Chapter 13: Suspense Accounts and Errors
Name and define the six errors th...,
Name and define the six errors th...,
What is the purpose of a suspense...
3  cards
Chapter 15: Preparation of Accounts for a Sole Trader
Summarise the format of the profi...,
Summarise the format of the state...
2  cards
Chapter 16: Partnership Accounts
Which of these are added and whic...,
What is included in the current a...
2  cards

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FAPS Level 3

  • Class purpose General learning

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