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national 5 accounting

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

By: Syeda Fatima
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Decks in this class (14)

Cash budgets
What is a cash budget,
What do you call the money coming...,
What do you call the money going ...
14  cards
Financial statement terminology
What is a income statement,
What is carriage in,
What is discount allowed
33  cards
Break even analysis formula
Contribution,
Break even point in units,
Break even point in sales value
12  cards
Break even analysis
What is break even,
What is total revenue,
What are the total costs
10  cards
Business documents
What is the purpose of an order form,
Name the details included in an o...,
What is the purpose of an invoice
19  cards
Trade discount, Cash Discount and VAT
What is the purpose of a trade di...,
Describe trade discount,
What is the purpose of a cash dis...
5  cards
The trial balance
What is used to prepare a trial b...,
What are the two purposes of a tr...,
When is a trial balance usually p...
3  cards
Labour
What are the four way employees c...,
Describe the term time rate,
Describe the term piece rate
7  cards
What is job costing?
What is job costing used for,
What is mark up
2  cards
Correction of errors
What are the five errors not disc...,
What is a trial balance a list of,
What is an error of omission
8  cards
Inventory valuation
What are the two methods of inven...,
Describe first in first out,
Give 4 advantages of using the fi...
7  cards
Sole trader
What is a sole trader,
Give 5 advantages of being a sole...,
What are the disadvantages of bei...
4  cards
Role of a financial accountant
What is the role of a financial a...
1  cards
Sources of finance for a sole trader
What are the sources of finance f...,
What are the advantages to the so...,
What are the disadvantages to the...
11  cards

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national 5 accounting

  • Class purpose General learning

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