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Decks in this class (19)
Business Transaction and Documentation
Business 1,
Types of business transaction wha...,
What are the 2 ways in which sale...
77
cards
Asset, Liabilities & the Accounting Equation
Asset 1,
Asset conceptual framework 2,
Examples of assets ca nca 3
18
cards
4- completing ledger accounts and financial statements
How to balance ledger accounts 1,
Balance on ledger accounts can be...,
Trial balance 3
27
cards
3- recording, summarising and posting transactions
Business transactions are initial...,
Source documents 2,
Egs of source docs 3
59
cards
5- receiving + checking money
3 key features of control over re...,
Important things about cash trans...,
Remittance advice usually sent wi...
42
cards
6- banking monies received
Banking system 1,
3 banking services 2,
Clearing system 3
46
cards
recording monies received
Control over recording of cash re...,
The first place a receipt may be ...,
What do cash registers do when re...
15
cards
8- authorising + making payments
Controls over payment 1,
If no control over payment 2,
Applying controls over payments 3
39
cards
authorising+making payments arifah's
Controls over payment 1,
Authorisation of payment 2,
Signatures on business cheque 3
11
cards
9- controls over recording payments
Why controls over recording payme...,
Bank reconciliation 2,
How to avoid fraud in recording p...
16
cards
10 -maintaining petty cash records
What is petty cash used for 1,
Items paid out of petty cash 2,
Who gets paid out of petty cash 3
31
cards
11- bank reconciliations
Bank reconciliation 1,
Cause of difference between busin...,
Bank statement sent by bank to th...
22
cards
12- sales and sales returns
flashcards complete (arifah's + textbook)
20
cards
13- receivables ledger
Need for personal ar accs 1,
Authorisation procedures ensuring...,
Credit control tools 3
25
cards
14- purchase + purchase returns
How to enter purchase invoices in...,
Info required for purchase analys...,
Do purchase analysis columns show...
18
cards
15- payables ledger
Payables ledger contains 1,
Reasons why business needs to mai...,
Payables ledger account write ups 3
33
cards
16- controls over transactions
Internal check control 1,
Types of internal check 2,
Contra entries 3
15
cards
study hub / summary notes+definitions
Purpose of accounting system is t...,
Discount 2,
Trade discount 3
109
cards
17- payroll
Payroll 1,
Payroll function in an org 2,
Income tax 3
50
cards
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FA1
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