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Study sets matching "accounting 2 accounts"

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Study sets matching "accounting 2 accounts"

10 terms
Accounts
Current assets
Current liabilities
Unpresented cheque
Outstanding lodgement
cash and other assets expected to be exchanged for cash or co…
liabilities due within a short time, usually within a year
A cheque that has not yet been presented for payment by the p…
amounts paid into the bank, not yet recorded on the bank stat…
Current assets
cash and other assets expected to be exchanged for cash or co…
Current liabilities
liabilities due within a short time, usually within a year
21 terms
Accounting
Accounting
Accounting system
Accounting records
Service business
Planning, recording, analyzing and interpreting financial inf…
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 inf…
Accounting system
A planned process for providing financial information that wi…
Accounting 2
Net Sales
Gross Profits = Revenue - Cost of Good…
Receivable Turnover
Average Collection Period
Sales Revenue - Credit Card Discounts - Sales Discounts - Sal…
Gross Profit Margin = Gross Profit/Net Sales
Net Sales/Average Net Accounting Receivables
365/Receivables Turnover
Net Sales
Sales Revenue - Credit Card Discounts - Sales Discounts - Sal…
Gross Profits = Revenue - Cost of Good…
Gross Profit Margin = Gross Profit/Net Sales
20 terms
Accounting 2
Corporation
Accounting equation
Service business
Merchandising business
A company owned by shareholders
Assets = Liabilities + OE
Sells services to people or businesses
Sells goods to people
Corporation
A company owned by shareholders
Accounting equation
Assets = Liabilities + OE
22 terms
Accounting
Accounting
Accounting system
Accounting records
Financial statements
Planning, recording, analyzing and interpreting financial inf…
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 inf…
Accounting system
A planned process for providing financial information that wi…
18 terms
Accounting
assets
Liabilities
Owners Equity
Capital
anything owned
Any amount owed
Account used to summarize the owners equity in a business.
Amount remaining after all liabilities are subtracted from al…
assets
anything owned
Liabilities
Any amount owed
49 terms
Accounting 2
Accounting
Service business
Proprietorship
Asset
Planning, recording, and interpreting financial information
A business that performs an activity for a fee
A business owned by one person
Anything of value that is owned
Accounting
Planning, recording, and interpreting financial information
Service business
A business that performs an activity for a fee
24 terms
Accounting
Accounts Receivable
Accounts Payable
Account Numbers
Accounts
Amounts Owed to the Business
Amounts a business owes for items or services purchased on cr…
Numbers assigned to accounts according to the chart of accoun…
Categories under the Assets, Liabilities and Owner's Equity h…
Accounts Receivable
Amounts Owed to the Business
Accounts Payable
Amounts a business owes for items or services purchased on cr…
15 terms
Accounting 2--Account Classifications
Accounts Receivable
Merchandise Inventory
Office Equipment
Petty Cash
Asset
Asset
Asset
Asset
Accounts Receivable
Asset
Merchandise Inventory
Asset
18 terms
Accounts
CASH
ACCOUNTS RECEIVABLE
OFFICE EQUIPMENT
ACCOUNTS PAYABLE
ASSET
ASSET
ASSET
LIABILITY
CASH
ASSET
ACCOUNTS RECEIVABLE
ASSET
116 terms
Accounting
GAAP
Three Organizations that is developmen…
Capital allocations
Financial reporting
"Generally accepted" an authoritative accounting rule-making…
1. Securities and Exchange Commission (SEC)... 2. American Ins…
It promotes productivity, encourages inovation, and provide a…
President letters supplementary schedules in corporate annual…
GAAP
"Generally accepted" an authoritative accounting rule-making…
Three Organizations that is developmen…
1. Securities and Exchange Commission (SEC)... 2. American Ins…
22 terms
Accounting
Accounting
Accounting system
Accounting records
Financial statements
Planning, recording, analyzing and interpreting financial inf…
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 inf…
Accounting system
A planned process for providing financial information that wi…
175 terms
Accounting
Account
Accountant
Account balance
Accounting
a device for recording the changes (increases or decreases) i…
one who is concerned with the design of the system of records…
the difference between the total debits and the total credits…
a language of business employed to communicate financial info…
Account
a device for recording the changes (increases or decreases) i…
Accountant
one who is concerned with the design of the system of records…
122 terms
Accounting
accumulated other comprehensive income
Appropriated Retained Earnings
capital maintenance approach
changes in estimates
An entry in the stockholders' equity section of the balance s…
A retained earnings account that is restricted for a specific…
An income measurement approach in which a company determines…
Adjustments or changes that companies must make because finan…
accumulated other comprehensive income
An entry in the stockholders' equity section of the balance s…
Appropriated Retained Earnings
A retained earnings account that is restricted for a specific…
17 terms
Accounting
liabilities
long-term liabilities
fixed assets
current assets
обязательства
долгосрочные обязательства
долгосрочные активы
текущие (краткосрочные) активы
liabilities
обязательства
long-term liabilities
долгосрочные обязательства
21 terms
Accounting
Note payable
Note receivable
Prepaid insurance
Rent expense
Is a liability account. That means + credit and - debit. It i…
Is asset account and it is used if you loan money and are owe…
Is an asset account which represents insurance that has been…
Is a liability account that is recorded under stockholder's e…
Note payable
Is a liability account. That means + credit and - debit. It i…
Note receivable
Is asset account and it is used if you loan money and are owe…
22 terms
Accounting 2 account titles
Advertising expense
Purchases
Dividends
Sales
Expense-DR
Cost-DR
Contra stock holders equity
Revenue-CR
Advertising expense
Expense-DR
Purchases
Cost-DR
15 terms
Accounting
Gross Income
Medicare
Net Pay
Payroll Register
the total amount of income from wages before any payroll dedu…
A federal program of health insurance for persons 65 years of…
Amount of income left after taxes and deductions have been ta…
a business form used to record payroll information
Gross Income
the total amount of income from wages before any payroll dedu…
Medicare
A federal program of health insurance for persons 65 years of…
50 terms
Accounting
Tax inspector
Commodity trader
Tax return
Market analyst
inspektor podatkowy
handlowiec towarowy
roczne zeznanie podatkowe
analityk giełdowy
Tax inspector
inspektor podatkowy
Commodity trader
handlowiec towarowy
16 terms
Accounting
Asset
Liability
Accrual
Depreciation
MONEY... › something that a person or company owns that has a va…
RESPONSIBILITY [U]... › legal responsibility for something:... They…
› [C or U] FINANCE an ​increase in an ​amount of ​money over…
To lose value over a period of time.
Asset
MONEY... › something that a person or company owns that has a va…
Liability
RESPONSIBILITY [U]... › legal responsibility for something:... They…
25 terms
Accounting 2
Purchases Journal
Cash Payments Journal
Check
Purchases Discount
used to record purchases of inventory bought on account
used to record check payments
source document for a cash payment
discount given by a vendor for paying a bill early
Purchases Journal
used to record purchases of inventory bought on account
Cash Payments Journal
used to record check payments
46 terms
Accounting 2
unit contribution
total equity capital
penetration strategy
marginal cost
jednostkowe pokrycie kosztów
kapitał własny
strategia penetracji rynku
koszt krańcowy
unit contribution
jednostkowe pokrycie kosztów
total equity capital
kapitał własny
29 terms
Accounting 2
Working Capital
Current Ratio
Acid-Test Ratio
Accounts Receivable Turnover
Current Assets - Current Liabilities... Expensive to keep large…
Current Assets/Current Liabilities... Declining or increasing r…
Current Ratio less inventory and prepaid assets. More rigorou…
A measure of the liquidity of accounts receivable, computed b…
Working Capital
Current Assets - Current Liabilities... Expensive to keep large…
Current Ratio
Current Assets/Current Liabilities... Declining or increasing r…
22 terms
Accounting
Accounting
Accounting system
Accounting records
Financial statements
Planning, recording, analyzing and interpreting financial inf…
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 inf…
Accounting system
A planned process for providing financial information that wi…
5 terms
Accounting 2
T account
Normal Balance
Debit
Credit
An account device used to analyze transactions
The side of the account that is increased
An ammount recorded on the left side
An ammount recorded on the right side
T account
An account device used to analyze transactions
Normal Balance
The side of the account that is increased
54 terms
Accounting 2
A process cost system would be used to…
In a process costing system, overhead…
Process costing would be used by compa…
The job cost sheet is used in both job…
False Chapter 4
False chapter 4
True (Chapter 4)
False (chapter 4)
A process cost system would be used to…
False Chapter 4
In a process costing system, overhead…
False chapter 4
84 terms
accounting
un compte courant
un comptable
plan comptable
service comptable
account, current
accountant
accounting system
accounts department
un compte courant
account, current
un comptable
accountant
82 terms
Accounting 2
cash
investments
receivables
accounts receivable
balance sheet: ASSETS, current assets
balance sheet: ASSETS, current assets
balance sheet: ASSETS, current assets
balance sheet: ASSETS, current assets
cash
balance sheet: ASSETS, current assets
investments
balance sheet: ASSETS, current assets
6 terms
Accounting-Accounting concepts (2)
Monetary measurement
Entity concept
Historical cost concept
Period reporting
All transactions are recorded using a common unit of measure…
The personal transactions of the owner are kept separate from…
Transactions are recorded in the accounting records at cost t…
The life of the entity is divided into nominated time periods…
Monetary measurement
All transactions are recorded using a common unit of measure…
Entity concept
The personal transactions of the owner are kept separate from…
9 terms
Accounting
Able to work alone
Cooperative
Enthusiastic
Punctual
I can work alone without the manager's supervise. I can manag…
I can work as a member in a team. I can get along with my tea…
I am willing, ready to take part in all the company's activit…
I always finish my tasks on time as my manager required. I go…
Able to work alone
I can work alone without the manager's supervise. I can manag…
Cooperative
I can work as a member in a team. I can get along with my tea…
22 terms
accounting
Balance Sheet
Income statement
Statement of stockholders equity
Statement of cash flows
Assets = Liabilities + Stockholders equity
Revenues - Expenses = Net income
Stockholders equity:... Common stock + Retained earnings
Operation activities... Investing activities... Financing activities
Balance Sheet
Assets = Liabilities + Stockholders equity
Income statement
Revenues - Expenses = Net income
22 terms
Accounting
Accounting
accounting system
accounting record
financial statements
Planning,recording,analyzing,and interpreting financial infor…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activites
financial reports that summarize the financial condition and…
Accounting
Planning,recording,analyzing,and interpreting financial infor…
accounting system
A planned process for providing financial information that wi…
20 terms
A2 Accounts: Accounting Standards
SSAP 9
SSAP 13
FRS 15
FRS 18
Stock
Research and Development
Tangible Fixed Asset
Accounting Policies
SSAP 9
Stock
SSAP 13
Research and Development
178 terms
Accounting
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…
7 terms
Accounting
Assets
Liabilities
Inventory
Equity
Everything the business owns in order to operate successfully…
All the money the company owes to others are considered liabi…
: Products on hand that the business plans to sell.
All the money invested in the company by the owners
Assets
Everything the business owns in order to operate successfully…
Liabilities
All the money the company owes to others are considered liabi…
22 terms
Accounting
Accounting
Accounting System
Accounting records
Financial statement
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 financial conditions and ope…
Accounting
Planning, recording, analyzing, and interpreting financial in…
Accounting System
A planned process for providing financial information that wi…
99 terms
Accounting
GAAP
Three Organizations that is developmen…
Financial statements
Financial statements: These statements…
"Generally accepted" an authoritative accounting rule-making…
1. Securities and Exchange Commission (SEC)... 2. American Ins…
The principle means through which a company communicates its…
1. the balance sheet... 2. income statement... 3. Statement of…
GAAP
"Generally accepted" an authoritative accounting rule-making…
Three Organizations that is developmen…
1. Securities and Exchange Commission (SEC)... 2. American Ins…
57 terms
Accounts
Interest Payable
Investments
Taxes Payable
Equipment
Liability... Balance Sheet... Credit... Permanent
Asset ... Balance Sheet... Debit ... Permanent
Liability ... Balance Sheet... Credit ... Permanent
Asset... Balance Sheet... Debit... Permanent
Interest Payable
Liability... Balance Sheet... Credit... Permanent
Investments
Asset ... Balance Sheet... Debit ... Permanent
16 terms
Accounting Exam 1 Accounts 2
issue 1,000,000 in common stock
Purchase 600,000 in delivery vehicles
borrow 500,000 from bank and 7%
purcahse 150,000 in equip
DR=Cash... CR= Common stock
DR=vehicles... CR=cash
DR=cash... CR=note pay
DR=equip... Cr=Cash
issue 1,000,000 in common stock
DR=Cash... CR= Common stock
Purchase 600,000 in delivery vehicles
DR=vehicles... CR=cash
209 terms
Accounting
ajustes para arribar al flujo neto de…
acreedor con caución, garantizado por…
acreedor privilegiado
activar costos de endeudamiento
adjustments to achieve net cash flows provided by operating a…
bond creditor
secured creditor
to capitalize borrowing costs
ajustes para arribar al flujo neto de…
adjustments to achieve net cash flows provided by operating a…
acreedor con caución, garantizado por…
bond creditor
35 terms
accounting
promissory note
negotiable
maturity date
Interest
an unconditional written promise to pay definite sum of money…
owner may transfer note to another person
date on which payment of a note is due.
the change made for the use of money
promissory note
an unconditional written promise to pay definite sum of money…
negotiable
owner may transfer note to another person
17 terms
Accounting
assets
Liabilities
Owners Equity
Capital
anything owned
Any amount owed
Account used to summarize the owners equity in a business.
Amount remaining after all liabilities are subtracted from al…
assets
anything owned
Liabilities
Any amount owed
10 terms
ACCOUNTING
audit
budget
build up
client
thanh tra
ngân sách
xây dựng
khách hàng
audit
thanh tra
budget
ngân sách
22 terms
Accounting
Accounting
accounting system
accounting record
financial statements
Planning,recording,analyzing,and interpreting financial infor…
A planned process for providing financial information that wi…
Organized summaries of a business's financial activites
financial reports that summarize the financial condition and…
Accounting
Planning,recording,analyzing,and interpreting financial infor…
accounting system
A planned process for providing financial information that wi…
105 terms
Accounting
Accounting
Features of accounting information sys…
Management accounting
Financial accounting
is concerned with collecting, analysing and communicating fin…
-Identifying and capturing relevant information... -Recording, i…
seeks to meet accounting needs for managers
seeks to meet those of all users identified except managers
Accounting
is concerned with collecting, analysing and communicating fin…
Features of accounting information sys…
-Identifying and capturing relevant information... -Recording, i…
12 terms
ACCOUNTING
accounting
account
accountant
credit
Planning, recording, analyzing, and interpreting financial in…
A record or statement of receipts and expenditures, or of bus…
A person who plans, summarizes, analyzes, and interprets acco…
The right side of a standard account
accounting
Planning, recording, analyzing, and interpreting financial in…
account
A record or statement of receipts and expenditures, or of bus…
155 terms
accounting
Accounting Flash Card
accounting
account
account balance
By Kevincpa
planning,recording,analyzing, and interpreting financial info…
a record summarizing all the information pertaining to a sing…
the amount in an account.
Accounting Flash Card
By Kevincpa
accounting
planning,recording,analyzing, and interpreting financial info…
20 terms
Accounting
Account
Accounting Cycle
Accounting Equation
Adjusting Entries
A record of the increases and decreases of the amount of a sp…
Activities the business completes within the fiscal period
Assets = Liabilities + Stockholder's Equity
Entries made to update certain accounts at the end of the fis…
Account
A record of the increases and decreases of the amount of a sp…
Accounting Cycle
Activities the business completes within the fiscal period
21 terms
Accounting
Accounting
Accounting system
Accounting records
Financial statements
Planning, recording, analyzing and interpreting financial inf…
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 inf…
Accounting system
A planned process for providing financial information that wi…
21 terms
Accounting
Transaction
Identify, record, communicate
FASB, SEC
Compound entry
Accountans reffer to an economic event as a
The accounting process of correctly sequenced as
The two organizations that are primarily responsible for esta…
When three or more accounts are required in one journal entry…
Transaction
Accountans reffer to an economic event as a
Identify, record, communicate
The accounting process of correctly sequenced as
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