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Laura Brady
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Decks in this class (55)
U1, AOS 1: KK1 - Reasons for establishing a business
What are the main reasons for goi...,
Profit move is,
A desire for greater freedom inde...
7
cards
U1, AOS 1: KK2 - Sources of Finance
What are the different internal s...,
What external sources of finance ...,
Which of the following sources of...
12
cards
U1, AOS 1: KK3 - Role of Professionals
0
cards
U1, AOS 1: KK5 - Alternative investment opportunities
A person who purchases property w...,
Alternate business opportunities ...,
Putting cash in the bank could be...
8
cards
U1, AOS 1: KK6 - Business Structures
What is a small business,
What are the 3 different types of...,
What are the to types of limited ...
14
cards
U1, AOS 1: KK4 - Success or Failure
0
cards
U1, AOS 1: KK7 - Accounting Elements
What is an asset,
What are liabilities,
What is owners equity
15
cards
U1, AOS 1: KK8 - Current & Non-Current
What is a current asset,
What is a current liability,
What is a non current asset
14
cards
U1, AOS 1: KK9 - Price Setting/Quotes
What is a recommended retail price,
What is a competitors price,
What is mark up percentage
9
cards
U1, AOS 1: KK10 - Accounting Reports
What is the accounting equation,
What is the basic idea of the two...,
According to the two fold effect ...
11
cards
U1, AOS 1: KK11 - Ethical Considerations
0
cards
Accounting Assumptions
Accounting entity assumption,
Going concern assumption,
Period assumption
4
cards
Accounting Elements
Current asset,
Non current asset,
Current liability
6
cards
Qualitative Characteristics
Relevance,
Faithful representation,
Verifiability
6
cards
U1 AOS2: KK1 - Source Documents (A)
The role of source documents,
Which source document would be pr...,
True or false an eftpos payment w...
9
cards
U1 AOS2: KK2 - Nature of Cash and Credit Transactions
What are the two journals where c...,
What are the two journals where c...
2
cards
U1 AOS2: KK3 - Two-fold Effect of Transactions on the Accounting Equation
The accounting equation is,
The purchase of a vehicle for 20 ...,
The purchase of a vehicle for 20 ...
4
cards
U1 AOS2: KK4 - Distinction between cash and profit
How could a business record a net...,
How could a business have an incr...,
What is the difference between ca...
7
cards
U1 AOS2: KK5 - Materials and Supplies Required by a Service Business
1
cards
U1 AOS2: KK6 - Indicators of Business Performance
Return on owner s investment,
Average capital,
Debt ratio
8
cards
U1 AOS2: KK7 - Internal Control Procedures
List the internal control mechanisms,
The use of a safe would be an exa...,
The implementation of an alarm sy...
4
cards
U1 AOS2: KK8 - Classified accounting reports
What are the key headings for a c...,
What are the main subheadings for...,
What are the main headings for a ...
3
cards
U1 AOS2: KK1 - Source Documents (B)
What is accounting,
Financial information is,
Non financial information is
27
cards
U1, AOS 2: Cash Flow Cover (CFC)
What is cash flow cover,
How is cash flow cover calculated,
What does a cash flow cover ratio...
15
cards
U2, AOS 1 - Lesson 1 - Intro to Inventory
Impact of cash purchase of invent...,
A sales return is,
A purchase return is
10
cards
U2, AOS 1 - Lesson 2 - Inventory Cards (Pt.1)
A perpetual inventory system is,
An inventory card is a subsidiary...,
T f each individual line of inven...
16
cards
U2, AOS 1 - Lesson 3 - Inventory Cards (Pt.2)
An inventory gain is,
3 x causes of an inventory gain,
Inventory loss is
11
cards
U2, AOS 1 - Lesson 4 - Reporting for Inventory (Pt.1)
T f sales returns are recorded on...,
Sales returns are recorded on the...,
Inventory loss is recorded on the...
12
cards
U2, AOS 1 - Lesson 5 - Reporting for Inventory (Pt.2)
0
cards
U2, AOS 1 - Lesson 6 - Evaluating Business Performance
0
cards
U2, AOS 1 - Lesson 7 - Consolidation
0
cards
U2, AOS 1 - Lesson 8 - Product and Period Costs (Pt.1)
0
cards
U2, AOS 1 - Lesson 9 - Product and Period Costs (Pt.2)
A product cost is a,
A period cost is a,
T f an example of a period cost i...
10
cards
U2, AOS 2 - Lesson 1 - Accounts Payable
What does the assumption of separ...,
According to the period assumptio...,
Which assumption recognizes reven...
12
cards
U2, AOS 2: Lesson 2 - Accounts Payable (Pt.2)
An,
What qualitative characteristic i...,
What would be the impact on the a...
4
cards
U2, AOS 2: Lesson 3 - Discounts
What is a statement of account,
Who has issued this source document,
3
cards
U2, AOS 2: Lesson 4 - Statement of Account
0
cards
U2, AOS 2: Lesson 5 - Accounts Receivable
Accounts receivable record is,
Accounts receivable schedule is,
Accounts receivable balance formula
5
cards
U2, AOS 2: Lesson 6 - Discounts
Why do businesses offer discounts,
Why do businesses sell on credit,
How are discounts determined
8
cards
U2, AOS 2 - Lesson 7 - Bad Debts
A bad debt is,
Irrecoverable means,
Recording bad debts upholds which qc
6
cards
U2, AOS 2 - Lesson 8 - Consolidation
0
cards
U2, AOS 2 - Lesson 9 - Cash Flow Statement
Three types of cash flows are,
Operating cash flows are
13
cards
U2, AOS 2 - Lesson 10 - Income Statement
Structure of the income statement is,
Purpose of the income statement is,
If expenses increase owners equity
7
cards
U2, AOS 2 - Lesson 11 - Balance Sheet
Formula for accounts payable,
Formula for accounts receivable,
3 gst formula
8
cards
U2, AOS 2 - Lesson 12 - Consolidation
0
cards
U2, AOS 2 - Lesson 13 - Managing Accounts Payable/Receivable
Formula for inventory turnover,
Inventory turnover measures,
Ito should be higher or lower
15
cards
U2, AOS 2 - Lesson 14 - ARTO, APTO, ITO
0
cards
U2, AOS 2 - Lesson 15 - Revision
0
cards
U2, AOS 3 - Lesson 1 - NCA's
A non current asset is,
Historical cost is,
Fair value is
14
cards
U2, AOS 3 - Lesson 2 - Depreciation (1)
Formula for rb method,
Carrying value formula,
Carrying value is
8
cards
U2, AOS 3 - Lesson 3 - Depreciation (2)
Formula for rb method,
Carrying value formula
9
cards
U2, AOS 3 - Lesson 4 - Evaluating Bus' Performance
Ato formula is,
Ato measures,
Ato should be increasing or decre...
11
cards
U2, AOS 3 - Lesson 5 - Conflict
1
cards
Pre-3/4 - Lesson 1 - Prepaid Expenses
When is the balance day,
T f balance day adjustments or bd...,
Which aas and qcs are upheld by c...
10
cards
Pre-3/4 - Lesson 2 - Prepaid Expenses
What is a prepaid expense provide...,
Why might a business pay for expe...,
How would a prepaid expense initi...
12
cards
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Unit 1/2 - Accounting
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