Terminologie comptable, M-Z

Module 1: Terminologie de la comptabilité

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Terminologie comptable, M-Z

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Accounting - Introduction - Accounting terminology, M - Z

Accounting terminology, M - Z

* advantages and disadvantages resulting from the use of 'double entry'
recording compared with 'single entry' recording;

* the differences between the recording and reporting for stock under a
perpetual inventory system, and the recording and reporting for stock under
a physical recording system.

* appropriately classified reports, such as a Profit and Loss statement
and balance sheet for a sole trader;

* budgeted reports, such as anticipated revenue, anticipated expenses,
budgeted Profit and Loss, budgeted balance sheet, and cash budget.

* that assets will always equal liabilities plus owners equity;

* that 'single entry' and 'double entry' recording procedures are able to
produce the same accounting information.

* documents in the order in which they are used for the sale of goods;

* current assets in the order of liquidity.

* the rules of posting involved in 'double entry' recording;

* the accounting equation. [1]

* a transaction involving credit;

* financial transactions amongst a set of business activities.

* the balances in subsidiary ledger accounts with the balance in the
related control account;

* the bank balance shown in the firm's ledger account with that shown on
the bank statement.

* accounting transactions using both single and double entry recording

* transactions for firms selling services, firms selling goods, and firms
selling goods and services.

* the performance of a sole trader-operated business in a fully
classified Profit and Loss statement;

* the financial position of a business in reports showing such
information as anticipated revenue, anticipated expenses, budgeted profit,
budgeted and historical cash flows, and budgeted wealth.

* appropriate journals or cash books to record information from original

* ledger accounts to receive information being posted from journals.

* when each of the following methods of revenue recognition would be
appropriate: point of sale, point of delivery, collection of cash, and
stages in completing a contract;

* why it is inappropriate to arbitrarily allocate expenses that do not
bear a direct relationship to a particular department or product.

* advantages in a recording system using control accounts;

* ways in which a cash budget is able to benefit a business.

* the many reasons why a firm must continually review its policies on
selling prices, controlling costs, regulating terms of sale, limiting the
level of stock on hand, controlling cash, and close revenue and expense
accounts necessary to calculate profit in the ledger at the end of the
accounting period and transfer that profit to the owner's capital account.

* examples of adjusting and closing journal entries;

* examples of balance day adjustments under both 'single entry' and
'double entry' recording procedures.

* a set of cash books to record a series of transactions evidenced by
original documents;

* ledger accounts based on 'double entry' to record a series of
transactions evidenced by original documents.

* about the role of accounting in business;

* about the problems of defining costs, and the effect of alternative
values of stock in the Profit and Loss statement and the balance sheet.

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[1] http://alison.com/#

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