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IK 0098
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Decks in this class (11)
Chapter 1 - Intro To Accounting
What 2 elements does accounting c...,
What are the 5 financial statements,
Who owns a sole trader business
26
cards
Chapter 2 - The Accounting Equation
What is the accounting equation s...,
What types of assets are there,
What is a current asset
25
cards
Chapter 3 - Double entry bookkeeping & preparation of financial statements
What does the pseudonym deadclic ...,
Why isn t there a t account for i...,
How do you balance off a ledger a...
11
cards
Chapter 4 - Preparing financial statements - other considerations
What is the double entry for a sa...,
What is the double entry for a pu...,
When is a discount recorded on a ...
6
cards
Chapter 5 - Accruals & Prepayments
What is the accruals basis of acc...,
What is the matching concept,
When is it necessary to make an a...
15
cards
Chapter 6 - Inventory
What is the double entry to recor...,
When is inventory recorded in the...,
What is included in inventory
8
cards
Chapter 7 - Non current assets and depreciation
What is the cost of a non current...,
What costs are involved in capita...,
What costs are involved in revenu...
19
cards
Chapter 8 - Irrecoverable debts and allowances
What is irrecoverable debt,
Why might a customer not pay a debt,
What is the double entry to accou...
6
cards
Chapter 9 - Accounting systems and VAT
When a business makes a sale what...,
When a business makes a purchase ...,
What are source documents
19
cards
Chapter 10 - Reconciliations
What is a dishonoured cheque,
What is a contra,
When is a contra used
6
cards
Chapter 11 - Errors and suspense accounts
What is an error of omission,
What is an error of commision,
What is an error of principle
9
cards
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Practical Bookkeeping
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