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Financial Accounting

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

By: Sadie Cope
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Decks in this class (10)

Chapter 1: Accounting and the Financial Statements
A company s annual report,
A summary of the results of a com...,
The process of identifying measur...
116  cards
Chapter 2: The Accounting Information System
Systems that capture record and r...,
The procedures that a company use...,
What does the accuracy of a compa...
84  cards
Chapter 3: Accrual Accounting
Why do accountants adjust accounts,
Which type of accounting provides...,
A method of accounting in which r...
70  cards
Chapter 4: Internal Control and Cash
To control employee s activities ...,
Internal control systems include ...,
What are the 5 components of inte...
116  cards
Chapter 5: Sales and Receivables
Cash basis accounting recognizes ...,
Accrual basis accounting recogniz...,
T or f control can pass either at...
95  cards
Chapter 6: Cost of Goods Sold and Inventory
If a company has too much invento...,
Inventory is an _______ and it ca...,
All inventory accounting systems ...
142  cards
Chapter 7: Operating Assets
The long lived assets that are us...,
Are operating assets sold to cust...,
The typical operating asset is us...
123  cards
Chapter 8: Current and Contingent Liabilities
The sources of cash and other fin...,
What are the 3 kinds of business ...,
Contingent liabilities can be eit...
77  cards
Chapter 9: Long-Term Liabilities
A formal agreement or contract a ...,
Larger corporations issue ______ ...,
A type of note that requires the ...
108  cards
Chapter 10: Stockholders' Equity
Ownership of a corporation is div...,
Most large businesses are organiz...,
The owners of a corporation who o...
125  cards

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Financial Accounting

  • Class purpose General learning

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