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Tjeripo Uaisako
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Decks in this class (31)
chapter 33: ratios; interpretation and evaluation of financial statements
Define and list the accounting ra...,
Define liquidity ratios and expla...,
Define efficiency ratios and expl...
22
cards
chapter 31: statement of affairs, credit sales, credit purchases
Explain single entry and incomple...,
List the disadvantages of single ...
2
cards
chapter 30: manufacturing businesses; income statement and statement of financial position
Explain the purpose of preparing ...,
Differentiate between direct and ...,
Define prime cost
5
cards
chapter 29: goodwill
Define goodwill,
List the factors that affect the ...
2
cards
chapter 28: income statement, current accounts, statement of financial position
Differentiate between fixed and c...,
What is the importance of the cur...,
What is recorded on the credit si...
4
cards
CHAPTER 27: CLOSING TRANSFERS, TRADING ACCOUNT, PROFIT AND LOSS ACCOUNT, APPROPRIATION ACCOUNT
Define partnership,
What is a partnership agreement,
List the features of a partnershi...
7
cards
chapter 26: statement of financial position
Define statement of financial pos...,
What is the importance of the sta...,
How do you get the capital employed
6
cards
chapter 25: income statement
Define income statement,
State the formula for calculating...,
Calculate gross income
5
cards
chapter 24 : post- closing trial balance
What is a post closing trial balance
1
cards
chapter 23 : trading account , profit and loss account
State the purpose of preparing th...,
What is the purpose of preparing ...,
Differentiate between gross profi...
3
cards
chapter 22: closing transfers
What is the first step in doing c...,
What is step 2,
What s step 3
4
cards
chapter 21: post- adjustments trial balance
Define post adjustments trial bal...
1
cards
chapter 20: depreciation of non-current assets
What is depreciation,
Define book value,
Define provision for depreciation
10
cards
chapter 19: bad debts, bad debts recovered and provision for doubtful debts
Define bad debts provision for do...,
What is the need for control,
Explain the need to declaire some...
4
cards
chapter 18: accrued income, accrued expenses, prepaid expenses and income received in advance
Explain the need for adjustments,
Explain how the closing inventory...,
Discuss the importance of the goi...
6
cards
chapter 17: accounting principles
List and explain 5 principles,
List and explain the last 6 princ...,
Explain the difference between ca...
4
cards
chapter 16: debtors and creditors list; control accounts
What is the purpose of the debtor...,
Explain the advantages of control...,
Differentiate between debtors and...
5
cards
chapter14: errors which affect the trial balance
List and explain the errors which...,
Explain the purpose of the suspen...
2
cards
chapter 13: errors which DON'T affect the trial balance
List and explain errors which don...,
2
cards
chapter 12: the trial balance
Define trial balance,
What are the reasons of preparing...,
Differentiate between the trial b...
3
cards
chapter 11: bank reconciliation
Define bank reconciliation,
Explain the need to compare the b...,
Explain the causes and effects of...
4
cards
chapter 10: statement of account
Explain the use of a statement of...,
Define statement of account
2
cards
chapter 9: wages journal
Define wages,
Distinguish between gross and net...,
Differentiaite between normal tim...
6
cards
chapter 8: general journal
Explain the importance and uses o...,
Explain opening entries
2
cards
chapter 7: returns journals
Differentiate between the debit a...,
Explain return inwards and return...,
What could be the possible reason...
5
cards
chapter 6: debtors and creditors journal
Explain the importance of checkin...,
Why is the creditors journal used,
Differentiate between trade and c...
5
cards
chapter 5: petty cash book
Why is the petty cash book used,
Explain the dual function of the ...,
Define a petty cash voucher
4
cards
chapter 4: cash book
Define books of first entry,
List advantages of using books of...,
List the uses of books of first e...
12
cards
chapter 3: the ledger
Explain the ledger,
Explain the division of the ledge...,
What are the advantages of dividi...
3
cards
chapter 2: accounting equation
Explain the statement of financia...
1
cards
chapter 1: introduction to accounting
1
cards
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accounting
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