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Financial Acc Systems 1

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

By: leo Gottlieb
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Decks in this class (22)

Ch 1
Financial accounting 0,
Essential characteristics of acco...,
Managerial accounting 2
40  cards
Ch 2
4 objectives of conceptual framew...,
Conceptual framework 1,
Why we need conceptual framework 2
48  cards
Ch 3
4 factors that shape financial ac...,
Accounting information system 1,
4 basic concepts of financial acc...
55  cards
Ch 3 Appendix
Strict cash basis accounting 0,
Accrual basis accounting 1,
Main difference of cash basis acc...
13  cards
Ch 1 + 2 IFRS Insights
Ifrs and iasb 0,
4 reasons to develop one set of i...,
Gaap and ifrs standard setting ar...
17  cards
Ch 3 Wrong Answers
There is a 4 month 12 000 note da...,
Prepare an adjusting entry to rec...,
Interest notes payable of 300 is ...
8  cards
Ch 4
3 limitations of income statement 0,
3 ways business and investment co...,
Earnings management 2
42  cards
Ch 4 IFRS Insights
5 differences of ifrs income stat...,
3 similarities btw income stateme...,
Nature of expense method 2
4  cards
Ch 2 Wrong Answers
Ignores the economic consequences...,
Imperative for providing comparis...,
4 qualitative characteristics rel...
10  cards
Ch 6
Present value 0,
Time value of money 1,
Name 8 present value based accoun...
31  cards
Ch 5
Analysts use the balance sheet to...,
Balance sheet aka statement of fi...,
Liquidity 2
70  cards
Ch 5 Appendix + IFRS insights
Ratio analysis 0,
Ratio 1,
4 major types of ratios 2
13  cards
Ch 7
Post dated checks and ious are tr...,
Cash 1,
Travel advances are treated as 2
64  cards
Ch 7 Appendix And IFRS Insights
Collection float 0,
Internal control 1,
Lock box accounts advantages 2
22  cards
Ch 8
Merchandise concern 0,
Inventories 1,
Merchandise inventory 2
56  cards
Ch 5, 7, 8 Wrong Answers
How are ious reported 0,
How are travel advances to employ...,
How is a cash balance requirement...
4  cards
Ch 9
How does ifrs and gaap define mar...,
How do companies record inventori...,
Market 2
49  cards
Ch 9 Appendix And IFRS Insights
2 assumptions made under lifo ret...,
2 benefits of lifo retail method 1,
Dollar value lifo retail method i...
13  cards
Ch 10
How relevant is fair value to pro...,
Property plant and equipment aka ...,
3 major characteristics with prop...
73  cards
Ch 11
Depletion 0,
Depreciation is the accounting pr...,
Amortization 2
67  cards
Ch 11 Appendix + IFRS Insights
Inter period tax allocation 0,
Macrs modified accelerated cost r...,
The definition of property plant ...
19  cards
Ch 9 To 11 Wrong Answers
Why is depreciation for tax purpo...,
3 reasons why straight line metho...,
What is the cogs when sales are m...
17  cards

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Financial Acc Systems 1

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