Principles of Accounting

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

Decks in this class (22)

Ch 1 - Accounting, The Lang of Bus VOCAB
Define accounting 8,
Define accounting system 3,
Define auditing
26  cards
Ch 2 - Analyzing Bus Trans VOCAB
Define accounts payable,
Define accounts receivable,
Define assets
20  cards
Ch 1 - Acct, Lang of Business GEN 1
What three things is an accountin...,
What are the three main responsib...,
What are the three main areas of ...
19  cards
Ch 1 - Acct, Lang of Business GEN 2
When does sec grant and exception...,
What is the purpose of gaap,
What are the 5 main steps of crea...
12  cards
Ch 3 - Analyzing Bus Trans VOCAB
Define account balance,
Define accounts,
Define chart of accounts
16  cards
Ch 2 - Analyzing Bus Trans GEN
What is the equation for determin...,
What are the steps to analyze the...,
What are two alternate names for ...
18  cards
Ch 4 - Gen Ledger and Journal VOCAB
Define accounting cycle,
Define audit trail 4,
Define balance ledger form
12  cards
Ch 5 - Adj and Worksheet VOCAB
Define account form balance sheet,
Define adjusting entries aka adju...,
Define book value
11  cards
Ch 6 - Close Entry and Trial Bal VOCAB
Define closing entries,
Define income summary account,
Define interpret
4  cards
Ch 7 - Accting Sales and A/R VOCAB
Define accounts receivable ledger,
Define charge account sales,
Define contra revenue account
24  cards
Ch 8 - Purchases and AP VOCAB
Define accounts payable ledger,
Define cash discount,
Define cost of goods sold
16  cards
Ch 9 - Cash Rec, Pay and Bank Proc VOCAB
Define bank reconciliation statement,
Define blank endorsement,
Define bonding
31  cards
Ch 10 - Payroll Comps, Recs and Pay VOCAB
Define commission basis,
Define compensation record indivi...,
Define employee
19  cards
Ch 11 - Payroll Taxes, Dep and Reports VOCAB
Define employers annual federal u...,
What is irs form 940,
What is the employers quarterly f...
12  cards
IRS Forms
Form 8109,
Form 941,
W 2
14  cards
Ch 11 - Payroll Reporting Topics
When is an employer required to u...,
What is the penalty if an employe...,
What decides the frequency of fed...
21  cards
Ch 11 - topics pt 2
What two forms are sent to the ss...,
What info is included on the annu...,
When is the w 3 w 2 packet due to...
16  cards
Ch 12 - Accruals, Deferrals and Worksheet VOCAB
What is accrual basis,
What are accrued expenses,
What is accrued income
11  cards
Ch 13 - Financials and Closing VOCAB
What is a classified financial st...,
Define current assets,
Define current liabilities
14  cards
Formulas and report orders
Net sales formula,
Net delivered cost of purchases f...,
Total merchandise available for s...
18  cards
Ch 14 - Acct Principles and Report Standards VOCAB
Define accrual basis,
Define conceptual framework,
Define conservatism
20  cards
Ch 15 - AR and Uncollectibles VOCAB
What is aging the accounts receiv...,
Define allowance method,
Define direct charge off method
4  cards

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Principles of Accounting

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