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

Decks in this class (14)

Chapter 1: Double-entry Bookkeeping
What is the accounting equation,
Which books of prime entry belong...,
Name the 3 books of prime entry a...
6  cards
Chapter 2: Accounting for VAT and Payroll
What is output and input tax,
What would a debit or credit bala...,
When is vat calculated when trade...
6  cards
Chapter 3: Capital and Revenue Expenditure
Define a non current asset and gi...,
Define capital expenditure and gi...,
Define revenue expenditure
8  cards
Chapter 4: Depreciation
Name the three factors to conside...,
What are the two ways of calculat...,
How is diminishing balance o
5  cards
Chapter 5: Disposal of Capital Assets
Give the two reasons why a dispos...,
What are the steps and the entrie...,
What are the steps and the entrie...
6  cards
Chapter 6 & 14: The Extended Trial Balance
What is the purpose of an extende...,
What are the five steps to prepar...,
Describe how you know
5  cards
Chapter 7: Underlying accounting principles
Name the six primary users of fin...,
What are the seven accounting pri...,
What are the five qualitative cha...
4  cards
Chapter 18: Interpretation of Profitability Ratios
Define profitability,
What is the formula for gross pro...,
Define capital employed
4  cards
Chapter 8: Accounting for Inventory
How is inventory valued,
What are the journal entries to a...,
What are the journal entries to a...
7  cards
Chapter 11: Bank Reconciliations
Define bacs and chaps payments,
Define uncleared lodgements,
Define unpresented cheques
5  cards
Chapter 12: Accruals and Prepayments
What is the accruals concept,
What are the,
What are the journal entries for ...
5  cards
Chapter 13: Suspense Accounts and Errors
Name and define the six errors th...,
Name and define the six errors th...,
What is the purpose of a suspense...
3  cards
Chapter 15: Preparation of Accounts for a Sole Trader
Summarise the format of the profi...,
Summarise the format of the state...
2  cards
Chapter 16: Partnership Accounts
Which of these are added and whic...,
What is included in the current a...
2  cards

More about
FAPS Level 3

  • Class purpose General learning

Learn faster with Brainscape on your web, iPhone, or Android device. Study Jenna Lewis's FAPS Level 3 flashcards now!

How studying works.

Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.

Add your own flashcards.

Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!

What's Brainscape anyway?

Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.

We use an adaptive study algorithm that is proven to help you learn faster and remember longer....

Looking for something else?

FAMILIAL ADENOMATOUS POLYPOSIS (FAP)
  • 2 decks
  • 21 flashcards
  • 1 learners
Decks: Familial Adenomatous Polyposis, Sickle Cell Disease, And more!
WSET Level 3
  • 22 decks
  • 871 flashcards
  • 609 learners
Decks: Winemaking Viticulture, Germany, Spain, And more!
FAPS- LESSON 3
  • 6 decks
  • 24 flashcards
  • 2 learners
Decks: Day Books, Journals, Receivable Ledger And Payable Ledger, And more!
WSET level 3 2020
  • 41 decks
  • 1476 flashcards
  • 13 learners
Decks: Black Grapes Of Spain, White Grapes Of Spain, Regions Of Spain Red, And more!
Make Flashcards