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Jenna Lewis
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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
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FAPS Level 3
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