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intro to financial accounting

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

By: Arianna Anderson
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Decks in this class (17)

chapter 1 review questions
External users,
Example of external users,
Internal users
25  cards
chapter 2 summary cheat sheet
Cash accounts receivable notes re...,
Cash,
Account receivable
11  cards
chapter 3 summary cheat sheet
Prepaid expenses,
When assets are used the advanced...,
Accumulated depreciation
31  cards
concept summary for exam 1
What are gaap,
The accounting equaiton is,
If you change one part of the acc...
33  cards
chapter 4 slides
Gross profit ratio formula
1  cards
chapter 4 notes
Merchandise,
Who earns income from products th...,
Wholesaler
35  cards
chapter 5 notes
Are damaged out of date goods rep...,
Net realized value,
Companies take phsyical account o...
16  cards
chapter 6 reading
Why do managers use internal cont...,
Blockchain,
I
21  cards
chapter 5 slides
Inventory turnover ratio,
What does inventory turnover rati...,
Days inventory on the shelf formula
4  cards
chapter 6 slides
Litigation,
Internal contols do what,
What are the basics of internal c...
21  cards
concept summary for exam 2
Gross profit ratio,
What does gross profit ratio tell...,
Revenue recognition guidelines
17  cards
chapter 7 reading
Receivable,
What are two common receivables,
Account receviable
37  cards
chapter 7 slides
Receivables turnover ratio,
Receivables turnover in days
2  cards
chapter 8 reading
Plant assets,
Plant assets are commonly used in,
4 issues accounting for plant assets
36  cards
chapter 9 reading
Liability,
Current liabilities short term,
What three questions do liabiliti...
22  cards
chapter 9 slides
Liabilities labeled by due dates,
Short term liabilities,
Long term liabilities
16  cards
chapter 8 slides
Examples of long lived assers,
What are two choices you have wit...,
Whats it mean to capitilize expen...
23  cards

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intro to financial accounting

  • Class purpose General learning

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