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Principles of Accounting

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

By: John Waller
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Decks in this class (15)

Accounting Activities
1. Identify the activities and user associated with accounting; 2. Explain the building blocks of accounting: ethics, principles, and assumptions
12  cards
Accrual Basis Accounting and Adjusting
A ______ usually begins with the ...,
Many businesses use the _________...,
Under ____________ companies reco...
34  cards
Adjusting Entries for Deferrals
The purchase of insurance to prot...,
The purchase of supplies results ...,
An adjusting entry for prepaid ex...
15  cards
Adjusting Entries for Accruals
Prepare adjusting entries for accruals
12  cards
Financial Reporting Concepts
According to the fasb conceptual ...,
Relevance 2,
Confirmatory value 3
23  cards
Account Classification
Accounts payable 1,
Accounts receivable 2,
Accumulated depreciation buildings 3
61  cards
Account Presentation
Accounts payable 1,
Accounts receivable 2,
Accumulated depreciation buildings 3
61  cards
Adjusted Trial Balance
Describe the nature and purpose of an adjusted trial balance
21  cards
Glossary 3
Definitions
4  cards
Adjusting the Accounts MCQ
Review 3
14  cards
Glossary A
Accelerated depreciation method 1,
Account payable 2,
Account s receivable 3
16  cards
Glossary B-C
Bad debt expense 1,
Balance sheet 2,
Bank reconciliation 3
41  cards
Glossary D
Debt securities 1,
Deficiency 2
2  cards
AC Financial Statements
The balances of the accounts repo...,
The balances of the accounts repo...,
Because the accounts reported on ...
35  cards
Merchandising Operations and Inventory Systems
Describe merchandising operations and inventory systems.
67  cards

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Principles of Accounting

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Principles of Accounting
  • 22 decks
  • 358 flashcards
  • 37 learners
Decks: Ch 1 Accounting The Lang Of Bus Vocab, Ch 2 Analyzing Bus Trans Vocab, Ch 1 Acct Lang Of Business Gen 1, And more!
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