This class was created by Brainscape user Laura Brady. Visit their profile to learn more about the creator.
By:
Laura Brady
- decks
- flashcards
- learners
Decks in this class (24)
U1, AOS 1: KK1 - Reasons for establishing a business
What are the main reasons for goi...,
Profit move is,
A desire for greater freedom inde...
7
cards
U1, AOS 1: KK2 - Sources of Finance
What are the different internal s...,
What external sources of finance ...,
Which of the following sources of...
12
cards
U1, AOS 1: KK3 - Role of Professionals
0
cards
U1, AOS 1: KK5 - Alternative investment opportunities
A person who purchases property w...,
Alternate business opportunities ...,
Putting cash in the bank could be...
8
cards
U1, AOS 1: KK6 - Business Structures
What is a small business,
What are the 3 different types of...,
What are the to types of limited ...
14
cards
U1, AOS 1: KK4 - Success or Failure
0
cards
U1, AOS 1: KK7 - Accounting Elements
What is an asset,
What are liabilities,
What is owners equity
15
cards
U1, AOS 1: KK8 - Current & Non-Current
What is a current asset,
What is a current liability,
What is a non current asset
14
cards
U1, AOS 1: KK9 - Price Setting/Quotes
What is a recommended retail price,
What is a competitors price,
What is mark up percentage
9
cards
U1, AOS 1: KK10 - Accounting Reports
What is the accounting equation,
What is the basic idea of the two...,
According to the two fold effect ...
11
cards
U1, AOS 1: KK11 - Ethical Considerations
0
cards
Accounting Assumptions
Accounting entity assumption,
Going concern assumption,
Period assumption
4
cards
Accounting Elements
Current asset,
Non current asset,
Current liability
6
cards
Qualitative Characteristics
Relevance,
Faithful representation,
Verifiability
6
cards
U1 AOS2: KK1 - Source Documents (A)
The role of source documents,
Which source document would be pr...,
True or false an eftpos payment w...
9
cards
U1 AOS2: KK2 - Nature of Cash and Credit Transactions
What are the two journals where c...,
What are the two journals where c...
2
cards
U1 AOS2: KK3 - Two-fold Effect of Transactions on the Accounting Equation
The accounting equation is,
The purchase of a vehicle for 20 ...,
The purchase of a vehicle for 20 ...
4
cards
U1 AOS2: KK4 - Distinction between cash and profit
How could a business record a net...,
How could a business have an incr...,
What is the difference between ca...
7
cards
U1 AOS2: KK5 - Materials and Supplies Required by a Service Business
1
cards
U1 AOS2: KK6 - Indicators of Business Performance
Return on owner s investment,
Average capital,
Debt ratio
8
cards
U1 AOS2: KK7 - Internal Control Procedures
List the internal control mechanisms,
The use of a safe would be an exa...,
The implementation of an alarm sy...
4
cards
U1 AOS2: KK8 - Classified accounting reports
What are the key headings for a c...,
What are the main subheadings for...,
What are the main headings for a ...
3
cards
U1 AOS2: KK1 - Source Documents (B)
What is accounting,
Financial information is,
Non financial information is
27
cards
U1, AOS 2: Cash Flow Cover (CFC)
What is cash flow cover,
How is cash flow cover calculated,
What does a cash flow cover ratio...
15
cards
More about
unit 1/2 - accounting
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Laura Brady's Unit 1/2 - Accounting flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
CPA
- 50 decks
- 1,262 flashcards
- 103,834 learners
Packs:
CPA AUD Flashcards, CPA FAR Flashcards, CPA BEC Flashcards, And more!
Accounting Unit 1
- 4 decks
- 34 flashcards
- 2 learners
Decks:
Errors That Don T Affect The Trial Balan, Errors That Affect The Trial Balance, Bank Reconciliation Statement, And more!
Accounting unit 3 AOS1
- 4 decks
- 24 flashcards
- 2 learners
Decks:
Qualitative Assumptions And Accounting A, The Accounting Elements, Business Documents, And more!
Financial Accounting 1
- 12 decks
- 170 flashcards
- 2 learners
Decks:
Debit And Credit And T Accounts, Vat, Discounts, And more!
