This class was created by Brainscape user Marva Idowu. Visit their profile to learn more about the creator.
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Marva Idowu
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Decks in this class (17)
Introduction To Acc
Name the types of accounting orga...,
Financial statements
2
cards
Accounting Equation
What is capital,
What is an asset,
What is a liability
10
cards
Double Entry
What are returns outwards,
What are returns inwards,
What account does return inwards ...
6
cards
Effect Of Profit And Loss
What is the definition of profit,
Define loss,
What is revenue
12
cards
Balancing Accounts
On what basis can an accounts whe...,
True or false balance carried dow...,
True or false the balance brought...
5
cards
Accurals And Prepayments
How would accruals be defined,
Where are accruals shown,
True or false accurals are a liab...
7
cards
Trial Balance
What is one of the things the tri...,
Name the 6 types of errors associ...,
A ________ error is an error that...
5
cards
Statement Of Profit Or Loss
The _______________ shows the fin...,
What are some benefits of knowing...,
Define gross profit
8
cards
Statement of financial position
Asset ______ _ __________,
What is a non current asset,
_______ are three examples of non...
12
cards
SFP AND SPL Considerations
Wha is the difference between ret...,
___________ ______________ gross ...,
A return inwards is found in whic...
5
cards
Books Of Orignal Entry
Define the book of original entry,
Name the two types of ledger acco...,
In impersonal accounts distinguis...
3
cards
Cash Book
What are the heading required for...,
Define contra entry,
What is discount allowed name wha...
4
cards
Return Inwards And Outwards Ledgers
Define return inwards,
What steps are involved in the re...,
Define return outwards
4
cards
Columnar Day Book And Petty Cash
When is columnar day book used,
What are analytical cash books us...,
What is the double entry for cash...
4
cards
Bad Debts And Allowance For Doubtful Debts
What are bad debts,
What is the treatment of bad debts,
Allowance for doubtful debts is d...
5
cards
Deprecation
Define deprecation,
What statement in deprecation found,
Name s3 causes of deprecation
9
cards
Accurals And Prepayments
Define accruals,
What is the double entry form acc...,
What is the double entry for prep...
3
cards
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Accounting
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