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Account terminologia, - M Z

  • Note di Apprendimento
  • Revisione degli argomenti
    Jimmy B.
    MW
    Jimmy B.

    Clear

    BabaJide Martins F.
    TR
    BabaJide Martins F.

    Good familiarization to accounting...

    Eshete F.
    NL
    Eshete F.

    Specially for those of us who are not from Accounting but we have to deal with one way or another. Very helpful.

    Yasir Zacharia J.
    SD
    Yasir Zacharia J.

    Accounting terminology mention above are very vital in the account transactions for accountants to perform their task about the problems of defining costs, and the effect of alternative values of stock in the Profit and Loss statement and the balance sheet.

    Morne V.
    ZA
    Morne V.

    A good understanding of the terminologies aid very much inthe coming out with financial reporting or analysis of any sor

    Sunday O.
    NG
    Sunday O.

    Outline knowing your topic, Prepare been ready for the next action, Prove letting people you are made off, Rank been oriented and document, Report given right analysis, Rule knowing the term been use in accounting, State is stating your fact, Suggest knowing which way to use, Summaries coming to conclusion, Tabulate using double entry, Use the term, Write giving final word

    Thomas Haingura M.
    NA
    Thomas Haingura M.

    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.

    Odongo M.
    UG
    Odongo M.

    Accounting -> Introduction -> Accounting terminology, M - Z Accounting terminology, M - Z Outline: 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. Prepare: 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. Prove: 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. Rank: documents in the order in which they are used for the sale of goods; current assets in the order of liquidity. Recall: the rules of posting involved in 'double entry' recording; the accounting equation. Recognise: a transaction involving credit; financial transactions amongst a set of business activities. Reconcile: 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. Record: accounting transactions using both single and double entry recording procedures. transactions for firms selling services, firms selling goods, and firms selling goods and services. Report: 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. Rule: appropriate journals or cash books to record information from original documents; ledger accounts to receive information being posted from journals. State: 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. Suggest: advantages in a recording system using control accounts; ways in which a cash budget is able to benefit a business. Summarise: 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. Tabulate: examples of adjusting and closing journal entries; examples of balance day adjustments under both 'single entry' and 'double entry' recording procedures. Use: 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. Write: 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.

    Odongo M.
    UG
    Odongo M.

    Accounting -> Introduction -> Accounting terminology, M - Z Accounting terminology, M - Z Outline: 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. Prepare: 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. Prove: 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. Rank: documents in the order in which they are used for the sale of goods; current assets in the order of liquidity. Recall: the rules of posting involved in 'double entry' recording; the accounting equation. Recognise: a transaction involving credit; financial transactions amongst a set of business activities. Reconcile: 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. Record: accounting transactions using both single and double entry recording procedures. transactions for firms selling services, firms selling goods, and firms selling goods and services. Report: 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. Rule: appropriate journals or cash books to record information from original documents; ledger accounts to receive information being posted from journals. State: 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. Suggest: advantages in a recording system using control accounts; ways in which a cash budget is able to benefit a business. Summarise: 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. Tabulate: examples of adjusting and closing journal entries; examples of balance day adjustments under both 'single entry' and 'double entry' recording procedures. Use: 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. Write: 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.

    Manish K.
    NP
    Manish K.

    terminologies help to get information for preparation of financial accounting. Budget reports, anticipated income and expenditure, etc. should be properly made by accounting personnel.

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