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Study sets matching "accounting 1 [booknotes]"

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Study sets matching "accounting 1 [booknotes]"

86 terms
accounting 1a ch4 [booknotes]
what is a more complete version of an…
why do we do a work sheet?
what does the accounting cycle start w…
1st step of accounting cycle
the accounting work sheet
to summarize lots of data in one place
the beginning asset, liability, and owner's equity account ba…
start with the beginning account balances
what is a more complete version of an…
the accounting work sheet
why do we do a work sheet?
to summarize lots of data in one place
226 terms
APUSH - Unit 1 Booknotes
Maize cultivation
hunting and gathering American Indians
mixed economy American Indians
Spanish and Portuguese exploration
-in the great plains, most tribes engaged in sedentary farmin…
-people north of mexico, Eskimos, pacific northwest (salmon),…
? Mixed between trade, hunting/gathering/farming
-Portuguese (maritime power in 15th century cause of prince h…
Maize cultivation
-in the great plains, most tribes engaged in sedentary farmin…
hunting and gathering American Indians
-people north of mexico, Eskimos, pacific northwest (salmon),…
131 terms
CMS 315 --BOOKNOTES 1-5
Content level:
Relationship level:
Three occasions when we in tune in hig…
People talk tend to talk directly abou…
what the message actually communicates/the behavior a message…
tells us how to interpret the content, may contain important…
1) Message drastically violates our expectations... 2) Relations…
1) Work ... 2) Commitment associated with relationships:... 3) Invo…
Content level:
what the message actually communicates/the behavior a message…
Relationship level:
tells us how to interpret the content, may contain important…
17 terms
ECO 301 Chapter 7. 1 Booknotes
What items should be included as part…
Economic Costs vs. Accounting Costs
Accounting Costs
Economic Costs
...
Economic: Capital, labor, and raw material. Opportunity Cost…
Actual Expenses plus depreciation charges for capital equipment
Cost to a firm of utilizing economic resources in production.
What items should be included as part…
...
Economic Costs vs. Accounting Costs
Economic: Capital, labor, and raw material. Opportunity Cost…
21 terms
Accounting 1 Chapter 1
Accounting
Accounting System
Accounting Records
Service Business
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities.
A business that performs an activity for a fee.
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
25 terms
Accounting Ch. 1 Terms
assets
liabilities
owner's equity
accounting
resources with future benefits that are owned or controlled b…
claims on an asset (something you owe)
claims of the owner
an information and measurement system that identifies, record…
assets
resources with future benefits that are owned or controlled b…
liabilities
claims on an asset (something you owe)
10 terms
Accounting 1 - Reverse T Accounts
Received cash from owner as investment…
Bought supplies on account, $50
Paid cash for an expense, $50.
Received cash from sales, $100.
Received cash from owner as investment…
Bought supplies on account, $50
140 terms
Accounting 1
Account.
Account Balance.
Accountant.
Accounting Cycle.
A device for recording the changes (increases or decreases) i…
The difference between the total debits and the total credits…
One who is concerned with the design of the system of records…
The process involved in journalizing, posting to the ledger,…
Account.
A device for recording the changes (increases or decreases) i…
Account Balance.
The difference between the total debits and the total credits…
35 terms
Accounting 1
Accounting Equation
Assets
Capital
Capital Investment
Assets = Liabilities + Owner's Equity
listed on the left side of the accounting equation
another name for Owner's Equity
money invested by the owner in his/her business
Accounting Equation
Assets = Liabilities + Owner's Equity
Assets
listed on the left side of the accounting equation
433 terms
Accounting 1
Account
Account balance
Account number
Account title
A record summarizing all the information pertaining to a sing…
The amount in an account
The number assigned to an account
The name given to an account
Account
A record summarizing all the information pertaining to a sing…
Account balance
The amount in an account
accounting 1
account
account balance
account title
accounting
a record summarizing all the info pertain to a single item in…
the amount in an account
the name given to an account
planning, recording, analyzing, and interpreting financial info
account
a record summarizing all the info pertain to a single item in…
account balance
the amount in an account
20 terms
1.1 Accounting Concepts
Going Concern
Entity Concept
Monetary Measurement
Historical Cost
The operations of the entity will continue into the foreseeab…
The financial transactions of the owner are kept separate and…
All transactions are recorded in a common dollar unit - NZD
Transactions are recorded at their original cost to the busin…
Going Concern
The operations of the entity will continue into the foreseeab…
Entity Concept
The financial transactions of the owner are kept separate and…
21 terms
Accounting 1 Chapter 1
Accounting
Accounting System
Accounting Records
Service Business
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities.
A business that performs an activity for a fee.
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
10 terms
Accounting 1 - What Account?
What two accounts are used with "recei…
What two accounts are used with "paid…
What two accounts are used with "paid…
What two accounts are used with "bough…
Cash... Capital
Cash... Supplies
Cash... Prepaid Insurance
Supplies... Accounts Payable
What two accounts are used with "recei…
Cash... Capital
What two accounts are used with "paid…
Cash... Supplies
21 terms
Accounting 1 Chapter 1
Accounting
Accounting System
Accounting Records
Service Business
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities.
A business that performs an activity for a fee.
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
31 terms
Accounting 1 Chapter 1
Account
Account balance
Account title
Accounting
A record that summarizes all the transactions pertaining to a…
The difference between the increases and decreases in an acco…
The name given to an account.
The process of planning, recording, analyzing, and interpreti…
Account
A record that summarizes all the transactions pertaining to a…
Account balance
The difference between the increases and decreases in an acco…
27 terms
Accounting 1 Chapter 1
asset
owner's equity
accounting system
Personal net worth
Anything of value that is owned.
The amount remaining after the value of all liabilities is su…
A planned process for providing financial information that wi…
The difference between personal assets and personal liabiliti…
asset
Anything of value that is owned.
owner's equity
The amount remaining after the value of all liabilities is su…
22 terms
Chapter 1, Accounting 1
Accounting
Accounting system
Accounting records
Financial statements
Planning, recording, analyzing, and interpreting financial in…
A planed process for providing financial information that wil…
Organized summaries of a busiess's financial activities.
Financial reports that summarize the financial condition and…
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting system
A planed process for providing financial information that wil…
24 terms
Accounting 1 Classifications of accounts
Supplies-Office
Rent Expense
Cash
Accounts receivable
Assets/ debit
Expense/Debit
Assets/debit
Assets/debit
Supplies-Office
Assets/ debit
Rent Expense
Expense/Debit
17 terms
Accounting 1 chapter 1
Accounting equation
Accounts Receivable
Cash
Supplies
A = L + OE
Asset
Asset
Asset
Accounting equation
A = L + OE
Accounts Receivable
Asset
13 terms
Owarzani Chapter 1.1 - Accounting
Accounting
Accounting System
Accounting Records
Financial Statements
Planning, recording, analyzing, and interpretting financial i…
A planned process for providing financial information that wi…
Organized summaries of a business's financial records
Financial reports that summarize the financial condition and…
Accounting
Planning, recording, analyzing, and interpretting financial i…
Accounting System
A planned process for providing financial information that wi…
10 terms
Accounting 1 Chapter 3
entry.
journalizing
memorandum
check
Information for each transaction recorded in a journal.
Recording transactions in a journal.
A form on which a brief message is written to describe a tran…
A business form ordering a bank to pay cash from a bank account
entry.
Information for each transaction recorded in a journal.
journalizing
Recording transactions in a journal.
27 terms
Accounting - Unit 1
Accountant
Accounting
Accounting concepts
Accounting period cycle
A Person who plans, summarizes and interprets accounting info…
Planning, recording, analyzing, and interpreting financial in…
Commonly accepted concepts that guide accounting personnel in…
Changes in financial information are reported for a specific…
Accountant
A Person who plans, summarizes and interprets accounting info…
Accounting
Planning, recording, analyzing, and interpreting financial in…
21 terms
Accounting 1 Chapter 1
Accounting
Accounting System
Accounting Records
Service Business
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities.
A business that preforms an activity for a fee.
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
20 terms
Accounting 1 Chapter 5
postdated check
voided check
bank statement
canceled check
a check with a future date on it
a check that cannot be processed because the maker has made i…
a report of deposits, withdrawals, and bank balances sent to…
a check which has been paid by the bank
postdated check
a check with a future date on it
voided check
a check that cannot be processed because the maker has made i…
22 terms
Ch. 1 Accounting Terms
account
account balance
account title
accounting
a record summarizing all the information pertaining to a sing…
the amount in an account
the name given to an account
planning, recording, analyzing, and interpreting financial in…
account
a record summarizing all the information pertaining to a sing…
account balance
the amount in an account
433 terms
Accounting 1
Account
Account balance
Account number
Account title
A record summarizing all the information pertaining to a sing…
The amount in an account
The number assigned to an account
The name given to an account
Account
A record summarizing all the information pertaining to a sing…
Account balance
The amount in an account
40 terms
Accounting 1
managerial accounting
financial accounting
assets
liabilities
accounting information provided to internal users
accounting information provided to external users
the resources of a company
amounts owed to creditors
managerial accounting
accounting information provided to internal users
financial accounting
accounting information provided to external users
9 terms
Accounting 1 Chapter 4
balance-ruled account form
ledger
general ledger
account title
form that has columns for the debit and credit balance
a group of accounts
a ledger that contains all accounts needed to prepare financi…
name given to an account
balance-ruled account form
form that has columns for the debit and credit balance
ledger
a group of accounts
25 terms
accounting 1
bookkeeper
lease
debt
gearing
księgowy
dzierżawa
dług
dźwignia finansowa
bookkeeper
księgowy
lease
dzierżawa
22 terms
Accounting Chapter 1
accounting
accounting system
accounting records
financial statements
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities
Financial reports that summarize the financial condition and…
accounting
Planning, recording, analyzing, and interpreting financial in…
accounting system
A planned process for providing financial information that wi…
35 terms
Accounting 1
FASB
Assets
Liabilities
Stockholders Equity
financial accounting standards board
cash, investments, accounts receivable, inventory, supplies,…
an obligation and it is reported on a company's balance sheet…
Contains the portion of the price paid by investors for a com…
FASB
financial accounting standards board
Assets
cash, investments, accounts receivable, inventory, supplies,…
20 terms
Accounting 1
Account
Account Balance
Account Title
Accounting
A record that summarizes all the transactions pretaining to a…
The difference between the increases and decreases in an acco…
The name given to the account
The process of planing, recording, analyzing, and interpretin…
Account
A record that summarizes all the transactions pretaining to a…
Account Balance
The difference between the increases and decreases in an acco…
88 terms
Accounting 1 - Terms
Account
Accountant
Accounting
Accounting Cycle
A record summarizing all the information pertaining to a sing…
A person whose profession is the creating and preparing of fi…
The planning, recording, analyzing, and interpreting of finan…
The series of accounting activities included in recording fin…
Account
A record summarizing all the information pertaining to a sing…
Accountant
A person whose profession is the creating and preparing of fi…
11 terms
Accounting 1.02
Double-entry accounting
Journal
Journalizing
General journal
The recording of debt and credit parts of a transaction
A form for recording transactions in chronological order
ARecording transactions in a journal
A journal with two account columns in which all kinds of entr…
Double-entry accounting
The recording of debt and credit parts of a transaction
Journal
A form for recording transactions in chronological order
22 terms
Accounting 1 Ch 1
account
account balance
account title
accounting
a record summarizing all the information pertaining to a sing…
the amount in an account
the name given to an account
planning, recording, analyzing, and interpreting financial in…
account
a record summarizing all the information pertaining to a sing…
account balance
the amount in an account
27 terms
Accounting 1 Chapter 1
Accounting
Accounting System
Financial Statements
Net Worth Statement
The process of planning, recording, analyzing, and interpreti…
A planned process designed to compile financial data and summ…
Financial reports that summarize the financial condition and…
A formal report that shows what an individual owns, what an i…
Accounting
The process of planning, recording, analyzing, and interpreti…
Accounting System
A planned process designed to compile financial data and summ…
13 terms
accounting1
accounting
accounting system
accounting records
financial statements
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activities
Financial reports that summarize the financial condition and…
accounting
Planning, recording, analyzing, and interpreting financial in…
accounting system
A planned process for providing financial information that wi…
66 terms
Accounting 1
Financial statements
accounting
order of the income statements reported:
income statements
1. income statements... 2.statement of retained earnings... 3.balan…
is the information system that provides reports to stakeholde…
1.income statement... 2.retained earnings... 3.balance sheet... 4.stat…
answers question of business is profitable. Revenues and expe…
Financial statements
1. income statements... 2.statement of retained earnings... 3.balan…
accounting
is the information system that provides reports to stakeholde…
60 terms
Accounting 1 Terms
Accounting
Accounting System
GAAP
Accounting Concepts/Assumptions
Planning, recording, analyzing, and interpreting financial in…
A planned process for providing financial information that wi…
Generally Accepted Accounting Principles
Basic concepts that underlie all financial statements
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
24 terms
Accounting 1: Chapter 2
free enterprise system
profit
loss
entrepreneur
people are free to produce the goods and services they choose
amount of money earned over and above the amount spent to kee…
businesses that spend more than they earn
person who transforms ideas for products or services into rea…
free enterprise system
people are free to produce the goods and services they choose
profit
amount of money earned over and above the amount spent to kee…
88 terms
Accounting 1 - Terms
Account
Accountant
Accounting
Accounting Cycle
A record summarizing all the information pertaining to a sing…
A person whose profession is the creating and preparing of fi…
The planning, recording, analyzing, and interpreting of finan…
The series of accounting activities included in recording fin…
Account
A record summarizing all the information pertaining to a sing…
Accountant
A person whose profession is the creating and preparing of fi…
12 terms
Quiz 1 Managerial Accounting
Gross Margin
Operating margin
Net Margin
Sequential Analaysis
Sales minus cost of goods sold (COGS or COS)
What is left after paying for COGS and operating expenses lik…
What is left at the bottom after subtracting all expenses fro…
Reviewing a firms financial statements from left to right to…
Gross Margin
Sales minus cost of goods sold (COGS or COS)
Operating margin
What is left after paying for COGS and operating expenses lik…
88 terms
Accounting 1
IFRS
USGAAP
Measurement Principles... Historic Cost P…
Fair Value Principle
International Financial Reporting Standard
Generally Accepted Accounting Principles... similar to IFRS, rel…
companies record assets at their cost, no adujustment if calu…
reported at fair value -> estimation of market price... - used…
IFRS
International Financial Reporting Standard
USGAAP
Generally Accepted Accounting Principles... similar to IFRS, rel…
35 terms
Accounting Unit 1: The Accounting Landscape
Accounting
Sole Trader
Partnership
Proprietary Company
The Language of Business
Single owner unincorporated business
Multi owner unincorporated business
Incorporated business but shares are not traded on the A.S.X.
Accounting
The Language of Business
Sole Trader
Single owner unincorporated business
36 terms
Accounting 1
Definition of Assets
Types of assets
Accounting is the language of _______
Accounting is used to understand the i…
things of value owned by a business
cash... supplies - office and embalming... equipment- office and em…
business
economic events
Definition of Assets
things of value owned by a business
Types of assets
cash... supplies - office and embalming... equipment- office and em…
10 terms
1.1 Accounting in Action
accounting
accounting system
financial statements
net worth statement
the process of planning, recording, analyzing, and interpreti…
a planned process designed to compile financial data and summ…
financial reports that summarize the financial condition and…
a formal report that shows what an individual owns, what an i…
accounting
the process of planning, recording, analyzing, and interpreti…
accounting system
a planned process designed to compile financial data and summ…
10 terms
Accounting 1 - What Account?
What two accounts are used with "recei…
What two accounts are used with "paid…
What two accounts are used with "paid…
What two accounts are used with "bough…
Cash... Capital
Cash... Supplies
Cash... Prepaid Insurance
Supplies... Accounts Payable
What two accounts are used with "recei…
Cash... Capital
What two accounts are used with "paid…
Cash... Supplies
15 terms
Accounting 1
Capital
Bank
Current income
Rent income
Owners Equity
Asset
Owners Equity
Owners Equity
Capital
Owners Equity
Bank
Asset
8 terms
Unit 4 Accounting 1
Ledger
General Ledger
Account number
File maintenance
A group of accounts
A ledger that contains all accounts needed to prepare financi…
The number assigned to an account
The procedure for arranging accounts in a general ledger, ass…
Ledger
A group of accounts
General Ledger
A ledger that contains all accounts needed to prepare financi…
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