FABM 1

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

By: Venice Panganiban
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Decks in this class (12)

Nature Of Accounting L1
The process of recording classify...,
Follows a structured approach to ...,
It records financial transactions...
8  cards
Function Of Accounting L1
Record all financial transactions 1,
Transactions are logged in a gene...,
Track expenditures and revenues f...
18  cards
History Of Accounting L1
Country where accounting was inve...,
Recording of agreements between p...,
Where emperor augustus documented...
7  cards
The External and Internal Users of Financial Information L1
They analyze financial statements...,
Group includes banks and other le...,
These are people who rely on its ...
7  cards
Accounting Concepts L2
Fundamental principles that guide...,
A business is separate from its o...,
Only transactions that can be mea...
13  cards
Accounting Equations L2
Accounting equation is expressed ...,
Resources owned by a business tha...,
Represent obligations or debts th...
4  cards
W7.1
Consists of series of steps that ...,
Financial activities that involve...,
Transaction can be quantified in ...
21  cards
W7.2
Economic resources owned by the b...,
Expected to realize in or intende...,
Includes the amount collectible f...
23  cards
W7.3
Foundation accounting tool used t...,
Transactions are recorded by date...,
Each entry includes debits and cr...
12  cards
Exam
These are long term assets or res...,
Includes depths and obligations t...,
This includes the interest of the...
17  cards
Commutative
Business that operates through th...,
Known as buy and sell 2,
Producers of goods it buys raw ma...
8  cards
Cumulative 2
Regards the business enterprise a...,
Concept behind providing financia...,
Twelve month period that starts o...
15  cards

More about
FABM 1

  • Class purpose General learning

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