1
Q
what is net cashflow?
A
all cash in received during the year- cash out during the year
2
Q
what is profit
A
result of recording income and expenses in related period whether or not cash has been received or not
3
Q
what is the equation for proceeds
A
proceeds - profit = disposal
Accounting
flashcards
Decks in class (15)
# Cards
-
Introduction to Accounting41
-
The Accounting Equation15
-
Double Entry Bookkeeping & Preparation of Financial Statements15
-
Preparing Financial Statements- Other considerations12
-
Inventory15
-
Non-current assets, depreciation and impairment25
-
UK GAAP3
-
Irrecoverable debts and allowances10
-
Errors and Suspense Accounts11
-
The Conceptual framework, accounting concepts and conventions16
-
cost of sales, accruals and prepayments10
-
accounting systems and VAT11
-
reconcilliations12
-
Company Financial Statements32
-
cashflow3
