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Financial Accounting - Preparing Financial Statements

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

By: Ezekiel Fray
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Decks in this class (10)

Chapter 1 - The Accounting System
Why is accounting important,
What does accounting help with,
What is the roll of an accountant
23  cards
Chapter 1 - Books Of Prime Entry
What are the 8 books of prime entry,
What does the sales day book show,
What does the purchases day book ...
9  cards
Chapter 1 - Division Of The Ledger
What deferent sections make up th...,
What is the receivables ledger al...,
What is the payables ledger also ...
9  cards
Chapter 1 - Financial Statements
What are financial statements als...,
What are the two different types ...,
What is the formula used to calcu...
18  cards
Chapter 2 - Double-Entry Book Keeping
What is the principle for double ...,
Are debit entries on the left or ...,
Are credit entries on the left or...
16  cards
Chapter 2 - Credit Sales And Purchases
What book of prime entry is a cre...,
What book of prime entry is a cre...,
What is a credit purchase
20  cards
Chapter 3 - Balancing Accounts And The Trial Balance
What is the reason for balancing ...,
What is the trial balance used for,
What is a control account
12  cards
Chapter 3 - Steps Involved To balance Accounts
What is the first step of balanci...,
What is the second step of balanc...
5  cards
Chapter 4 - Financial Statements And The Extended Trial Balance
What is the best software to crea...,
The time period covered by the st...,
What are the most common lengths ...
6  cards
Chapter 5 - Accrurals And Prepayments
What is an accrual,
Before an accrual is listed in th...,
Accruals are shown as a ________ ...
5  cards

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Financial Accounting - Preparing Financial Statements

  • Class purpose General learning

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