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MS2 Accounting Intro Review

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

By: Emma Whitney
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Decks in this class (16)

Chapter 1: Review of Syllabus
Sarbanes oxley act 1,
Faithful representation 2,
Monetary unity assumption 3
16  cards
Chapter 2: The Recording Process
Cost principal historical 1,
Transaction 2,
Double entry accounting 3
18  cards
Chapter 3: Adjusting The Accounts
Qualities of useful financial inf...,
Relevance for financial informati...,
Cost constraint 3
32  cards
Chapter 4: Completing the Accounting Cycle
Accounting cycle 1,
Closing process 2,
Liquidity 3
21  cards
Chapter 5: Accounting for Merchandising Operations
Fob shipping point vs fob destina...,
Income from operations 2,
Perpetual vs periodic inventory s...
34  cards
Chapter 6: Inventories
Lower of cost or market rule 1,
Lifo conformity rule 2,
Inventory costing methods 3
28  cards
Chapter 8: Fraud, Internal Controls, and Cash
Cash equivalent 1,
Imprest system 2,
Electronic data interchange 3
33  cards
Chapter 9: Accounting for Receivables
Interest period 1,
Percentage of receivables method ...,
Percentage of sales method of est...
45  cards
Chapter 10: Plant Assets, Natural Resources, and Intangible Assets
Patents 1,
Intangible assets 2,
Natural resources 3
51  cards
Chapter 13: Corporations:Organization andCapital Stock Transactions
Capital stock 1,
Outstanding stock 2,
Par value 3
42  cards
Chapter 14: Corporations: Dividends, Retained Earnings, and Income Reporting
Memorandum entry 1,
Appropriation of retained earnings 2,
Stock dividends 3
33  cards
Chapter 15: Long-term liabilities
Effective interest amortization m...,
Present value 2,
Types of bonds 3
55  cards
Chapter 16: Investments
Comprehensive income 1,
Consolidation accounting 2,
Controlling interest 3
34  cards
Chapter 17: Statement of Cash Flows
Operating activities 1,
Financing activities 2,
Investing activities 3
37  cards
Chapter 18: Financial Statement Analysis
Liquidity 1,
Solvency 2,
Basics of financial statement ana...
56  cards
Chapter 11: Current Liabilities and Payroll Accounting
Employer payroll taxes 1,
Current liability 2,
Fringe benefits 3
37  cards

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MS2 Accounting Intro Review

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