Financial Accounting - Preparing Financial Statements

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

Decks in this class (15)

Chapter 1 - The Accounting System
Why is accounting important 1,
What does accounting help with 2,
What is the roll of an accountant 3
23  cards
Chapter 1 - Books Of Prime Entry
What are the 8 books of prime ent...,
What does the sales day book show 2,
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 equation used to calc...
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 3
20  cards
Chapter 3 - Balancing Accounts And The Trial Balance
What is the reason for balancing ...,
What is the trial balance used for 2,
What does a control account do 3
12  cards
Chapter 3 - Steps Involved To balance Accounts
Blank 1,
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 1,
Before an accrual of an expense i...,
Accruals of expenses are shown as...
17  cards
Chapter 6 - Depreciation Of Non-current Assets
The estimate of the loss in value...,
What are the main factors that ca...,
What are the two most common meth...
10  cards
Chapter 7 - Irrecoverable Debts And Allowance For Doubtful Recievables
Irrecoverable debts are also know...,
What are irrecoverable debts bad ...,
What happened to receivables that...
11  cards
Chapter 8 - Framework Of Acounting
Who are the primary users of fina...,
Why will existing and potential i...,
Why will lenders eg banks need to...
12  cards
Chapter 8 - Accounting Policies And Characteristics
0  cards
Chapter 9 - Accounting For Capital Transactions
What do capital transactions conc...,
Are non current assets usually ta...,
What are examples of non current ...
6  cards

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Financial Accounting - Preparing Financial Statements

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