This class was created by Brainscape user Daniel Cope. Visit their profile to learn more about the creator.
By:
Daniel Cope
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Decks in this class (16)
Introduction to Accounting
What are the 3 types of profit ma...,
What is a sole trader,
What is a partnership
28
cards
Recording Financial Transactions
What is a source document and wha...,
What is an invoice and what are t...,
What is a credit note
16
cards
Double Entry and Ledger Accounts
What is the nominal ledger,
What is the method called that re...,
What is the duel effect
8
cards
Regulation of Accounting
What are the 4 sections of the co...,
What is the objective of financia...,
What are the two fundamental char...
26
cards
Inventories
How do you calculate cost of sales,
How do you calculate gross profit,
What equation is used to value in...
21
cards
Accruals and Prepayments
What is an accrued expense,
What is a prepaid expense,
Where are accrued expenses found ...
10
cards
Introduction to Tangible Non-Current Assets
What is capital expenditure,
Where are items gained through ca...,
What is revenue expenditure
23
cards
Disposal of Non-Current Assets
What is a profit on disposal,
What is a loss on disposal,
What are the steps of disposing o...
5
cards
Intangible Non-Current Assets
What are examples of intangible n...,
What is amortisation,
How is goodwill treated in financ...
4
cards
Discounts and VAT
What is trade discount,
How are sales and purchases treat...,
What is an early settlement discount
11
cards
Irrecoverable Debts and Allowances
What is an irrecoverable debt,
What does writing off mean,
What is the accounting treatment ...
11
cards
Receivables and Payables
What is a supplier statement reco...,
What is a contra entry,
What is the accounting treatment ...
3
cards
Errors
What are the 5 types of errors,
What is a transposition error,
What is an error of omission
7
cards
Comparison of Companies to Sole Traders
What are ordinary shares,
What are owners of a share entitl...,
What is nominal value
27
cards
Statement of Cash Flows
What is a statement of cash flows,
What is cash,
What are cash equivalents
7
cards
Partnership Financial Statements
What is a partnership,
In what two ways are partnership ...,
What does the appropriation of pr...
7
cards
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Accounting
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