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MS2 Accounting Intro Review

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

By: Emma Whitney
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Decks in this class (16)

Chapter 1: Review of Syllabus
Sarbanes oxley act,
Faithful representation,
Monetary unity assumption
16  cards
Chapter 2: The Recording Process
Cost principal historical,
Transaction,
Double entry accounting
18  cards
Chapter 3: Adjusting The Accounts
Qualities of useful financial inf...,
Relevance for financial information,
Cost constraint
32  cards
Chapter 4: Completing the Accounting Cycle
Accounting cycle,
Closing process,
Liquidity
21  cards
Chapter 5: Accounting for Merchandising Operations
Fob shipping point vs fob destina...,
Income from operations,
Perpetual vs periodic inventory s...
34  cards
Chapter 6: Inventories
Lower of cost or market rule,
Lifo conformity rule,
Inventory costing methods
28  cards
Chapter 8: Fraud, Internal Controls, and Cash
Cash equivalent,
Imprest system,
Electronic data interchange
33  cards
Chapter 9: Accounting for Receivables
Interest period,
Percentage of receivables method ...,
Percentage of sales method of est...
45  cards
Chapter 10: Plant Assets, Natural Resources, and Intangible Assets
Patents,
Intangible assets,
Natural resources
51  cards
Chapter 13: Corporations:Organization andCapital Stock Transactions
Capital stock,
Outstanding stock,
Par value
42  cards
Chapter 14: Corporations: Dividends, Retained Earnings, and Income Reporting
Memorandum entry,
Appropriation of retained earnings,
Stock dividends
33  cards
Chapter 15: Long-term liabilities
Effective interest amortization m...,
Present value,
Types of bonds
55  cards
Chapter 16: Investments
Comprehensive income,
Consolidation accounting,
Controlling interest
34  cards
Chapter 17: Statement of Cash Flows
Operating activities,
Financing activities,
Investing activities
37  cards
Chapter 18: Financial Statement Analysis
Liquidity,
Solvency,
Basics of financial statement ana...
56  cards
Chapter 11: Current Liabilities and Payroll Accounting
Employer payroll taxes,
Current liability,
Fringe benefits
37  cards

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MS2 Accounting Intro Review

  • Class purpose General learning

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