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Accounting unit 1

This class was created by Brainscape user Jasmine Crowley. Visit their profile to learn more about the creator.

By: Jasmine Crowley
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Decks in this class (13)

Ch 2 - Accounting for a small business
What makes something a small busi...,
Roles of accounting,
What is the accounting process
17  cards
Ch 3 - Balance sheets
What is a balance sheet,
What is the balance sheet based off,
What is the accounting equation
12  cards
Ch 4 - Single entry accounting
What is the single entry accounti...,
What are the two main journals of...,
What is the cash receipts journal...
11  cards
Ch 5 - Establishing a small business
What are types of small business,
What is a trading business,
What is a service business
20  cards
Ch 6 - Investment opportunities
What is investing,
What are the objectives of invest...,
What are some types of investment...
13  cards
Ch 7 - Recording and reporting cash flows
What are some ways a business can...,
What are some ways a business can...,
What percentage is gst
4  cards
Ch 8 - The income statement
What is an income statement,
How do you calculate profit,
What is revenue
5  cards
Ch 9 - Accounting for credit transactions
What is a credit transaction,
What are credit terms,
What does the credit term example...
12  cards
Ch 10 - Finance for small business
What are the types of sources of ...,
What are internal sources of finance,
What are external sources of finance
23  cards
Ch 11 - Cash flow statement
What is a cash flow statement,
What is the purpose of a cash flo...,
What areas does the cash flow sta...
13  cards
Ch 12 - Price setting strategies
What are the factors affecting pr...,
What is recommended retail price,
What is a percentage mark up
15  cards
Ch 13 - Evaluating the performance of a service business
How can accountants make income s...,
Whats an alternative form of pres...,
What is the first point to consid...
20  cards
Ch 14 - Internal control
What are internal control procedures,
What are the types of internal co...,
What is separation of duties
11  cards

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Accounting unit 1

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