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Introduction to Financial Accounting

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

By: Ranya Younis
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Decks in this class (13)

Accounting Definitions
Define accounting 1,
Users of financial accounting and...,
Main branches of accounting 3
47  cards
Accounting Equations
Profit in income statement 1,
Capital 2,
Current ratio 3
9  cards
Financial Position + Performance of a Business
Types of asset 1,
Types of liability 2,
Capital 3
31  cards
Accounting Systems
Accounting system 1,
Nominal ledger 2,
Asset accounts 3
13  cards
Accruals & Prepayments & Depreciation
Accruals 1,
Prepayments 2,
Adjustments to trial balance 3
20  cards
Receivables and Periodic Measurement
What are receivables 1,
What is asset derecognition 2,
What are irrecoverable bad debts 3
7  cards
Inventory Valuation
Categories of inventory 1,
Valuation rule 2,
Net realisable value 3
13  cards
Limited Companies
What are the types of business en...,
Sole trader vs limited company 2,
Sole trader vs limited company ow...
30  cards
Main Financial Statements
The main financial statements 1,
Principles of the financial state...,
Define total comprehensive income 3
29  cards
Regulation of financial reporting
What is agency theory 1,
What is the principal and agent r...,
What is the model hazard of inves...
19  cards
Cash Flow Statements
Define cash flow statements 1,
Define cash 2,
Define cash equivalents 3
18  cards
analysing and interpreting financial statements
External users of financial infor...,
Needs of users 2,
Define trend analysis 3
26  cards
Creative accounting
What is creative accounting 1,
Why does creative accounting occur 2,
Consequences in creative accounti...
10  cards

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Introduction to Financial Accounting

  • Class purpose General learning

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