This class was created by Brainscape user Joona Dunn. Visit their profile to learn more about the creator.
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Joona Dunn
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Decks in this class (13)
1. Introduction
What is bookkeeping,
Why are accounting standards requ...,
What are the two most popular acc...
9
cards
2. Statement of Financial Position (Balance Sheet)
What is the accounting equation,
What is equity,
What is an asset
7
cards
2. Statement of Financial Position (Balance Sheet) 2
What are non current assets what ...,
What is a liability,
What are current liabilities give...
7
cards
3. Statement of Profit and Loss (Income statement)
What is the income statement stat...,
What is the purpose of the income...,
What is the accrual principle
9
cards
4. Working Capital
What is working capital,
What is credit loss bad debt,
What happens when credit loss som...
6
cards
5. Non-current assets
How is pp e valued,
How are the costs of using non cu...,
What is residual value
9
cards
5. Non-current assets 2
How is property held for trading ...,
How is property used in the opera...,
What are intangible assets
9
cards
6. Inventory Valuations (indistinguishable goods)
What is fifo,
What is average cost valuation,
What is lifo
8
cards
7. Inventory valuations (identifiable goods)
What is full costing,
What is the rationale for full co...,
What are two important consequenc...
5
cards
8. Pension Benefit Accounting
Why are pension cost calculations...,
Identify risks that a firm is exp...,
What are the key differences betw...
3
cards
10. Financial Accounting Issues (subjectivity)
Who is responsible for financial ...,
What is meant by neutral financia...,
What are some limitations of fina...
9
cards
10. Financial Accounting Issues (fraud and earnings management related)
What is earnings management,
What are applications of operatio...,
What are applications of improper...
3
cards
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Financial Reporting
- Class purpose General learning
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