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Terminologie comptable, D-L

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  • Notes d'étude
  • Révisions du sujet
    Grace W.
    GB
    Grace W.

    Debate: the view that a perpetual inventory system of recording for stock is a better system than a physical inventory system for recording stock. Define: accounting terms. Demonstrate: that 'equalling' totals at the foot of the trial balance does not ensure that accuracy has been achieved in ledger recording; that profit is an estimated measure. Describe: the accounting process in terms of its recording, reporting, interpreting and budgeting functions; what is involved in recording subsidiary ledger stock records using identified cost, and in using assumed FIFO cost flows. Design: columnar special journals to record transactions of a like nature; suitable headings for reports which specifically state the name of the firm, the type of report, and the exact length and/or exact date of the report. Discuss: alternative methods of revenue recognition and expense recognition; each accounting principle in terms of the effect on each of the recording and reporting procedures. Distinguish: between the asset approach to recording a payment in advance and the expense approach to prepaid expenses; between a current asset, and a non-current asset and a current liability and a non-current liability. Enumerate: with explanations, the reasons for a business adopting a perpetual system of recording for stock. Explain: the consequences for both the Profit and Loss statement, and the balance sheet of alternative values for stock; why the historical cost balance sheet does not show the current worth of the firm. Evaluate: alternative methods of determining the cost of stock; alternative procedures in the recording and reporting of inventory. Graph: the effect of alternative methods of depreciation on the balance sheet value of a particular non-current asset; a firm's rate of return on investment over a number of equal-length accounting periods. Group: ledger accounts in drawing up a chart of accounts; transactions according to their effect on the accounting equation. Identify: the accounting principles involved in accounting for non-current assets and depreciation; the significance of a stocktake held at the end of the accounting period. Illustrate: how the entity principle effects the recording of transactions; how a firm may experience an increase in cash but have operated at a loss. Interpret: information provided on the profitability and liquidity of a firm. accounting data in assessing the performance (including profitability and liquidity) of a business from an internal management point of view. Justify: the treatment of depreciation as an allocation of cost; the application of the 'lower of cost and net realisable value' to individual items and groups of items but not to aggregate stock valuations. List: sources of finance available to a sole trader for normal trading and for expansion; advantages resulting from the use of a subsidiary ledger.

    Priscilla D.
    US
    Priscilla D.

    Its a lot to take in but I'm excited to be learning something new :)

    Reggie F.
    PH
    Reggie F.

    what is FIFO?

    Reggie F.
    PH
    Reggie F.

    what is entity principle?

    Meleofa U.
    TO
    Meleofa U.

    all these terms really gives me a fresh start eh...i like the word justify because everything in accounting..from posting to calculation of final reports has to be justified and must be correct and accurate...

    Rose R.
    PG
    Rose R.

    between the asset approach to recording a payment in advance and the expense approach to prepaid expenses; between a current asset, and a non-current asset and a current liability and a non-current liability.

    Martha N.
    US
    Martha N.

    how do i construct a debtor controll account

    Francis C.
    ZW
    Francis C.

    what is a perpetual system of recording of stock

    Vilas C.
    MY
    Vilas C.

    What is the other practice than FIFO- is it averaging cost of stock? is that acceptable ?

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