The Accounting Equation

Types of Business Organisations

ARR
Average Rate of Return

NPV
Net Present Value

Is financial accounting mostly concerned with external reporting to parties outside the firm?

Owner's equity
(a.k.a. stockholder's equity) usually consists of...

Dividends are...

Revenue is...

Income =

The 3 Cash Flows Sections are...

Sole Proprietorship (+/-)

Partnership (+/-)

Corporate company (+/-)

Debits and Credits describe...

Debits = Credits

D-E-A-D

C-L-E-R

Accruals are...

Examples of Accrued Expenses:

Example of Accrued Revenues:

Current Assets include...

The Operating Cycle is...

Long-term investments include...

Property, Plant and Equipment includes...

Intangible Assets....

Current Liabilities are...

Long-term liabilities relate to...

Direct Write-Off Method

FIFO

LIFO

Weighted Average

Inventory Turnover Ratio =

Good liquidity suggests...

Balance Sheet looks like...

Income Statement looks like....

Financial Ratios for Firm Liquidity

Financial Ratios for Operating Profitability

Financial Ratios for Financing Decisions

Definition of "Cost"

Definition of Fixed Cost

Definition of Variable costs

Bad debt is..

Definition of Indirect Cost

Definition of Product Cost

Definition of Period Cost

Definition of Job Costing

Definition Process Costing

Definition of Just-In-Time Costing

Definition of Activity Based Costing (ABC)

Definition of Variable Costing

What is Managerial Decision Making?

Planning, Directing, and Controlling

Definition of Cost Control

Definition of Budget

Definition of Inventory Control

Definition of Trade Discount

Definition of Cash Discount

Definition of Master Budget

Description of Operating Budget

Definition of Asset

Definition of a Liability

Definition of Equity

Beginning Inventory + New Purchases - Ending Inventory = ?