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aat l2 - bookkeeping trans' chap' 1

This class was created by Brainscape user Jamie Johnson. Visit their profile to learn more about the creator.

By: Jamie Johnson
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Decks in this class (13)

Business transactions
What is the accounting equation,
What are assets,
What are liabilities
4  cards
C1 - section 1. Business transactions.
Name 4 financial transaction cate...,
Sales purchases and expenses,
Where are cash sales and cash pur...
7  cards
C1 - section 2. The account system
Overview of account systems 5 points,
1 business transaction,
2 business documents
6  cards
C1 - section 3. Business transactions for a credit transaction.
Transaction flow for credit trans...
1  cards
C1 - section 4 Quotations
What are price enquires and why i...,
Price quotations
2  cards
C1 - Section 5 Purchase orders
Purchase order definition,
How do purchase orders work,
What information is usually found...
3  cards
C1 - Section 6 Sales order.
Define sales order,
Why are sales orders produced,
Why information can be commonly f...
3  cards
C1 - Section 7 delivery note and goods received note
Delivery note definition,
There are normally 3 parts copies...,
Goods received note definition
5  cards
C1 - section 8. Invoices.
Invoice definition,
When are sales invoices prepared,
In manual systems how are invoice...
5  cards
C1 - section 9. VAT
Vat definition,
Define output taxdefine input tax,
Vat overview
13  cards
C1 - section 10. Discounts
What are discounts,
What are the 3 types of discount,
Define trade discount
7  cards
C1 - section 11. preparing invoices
What do you need to prepare a sal...,
What is the difference between sa...,
Once the purchase order delivery ...
8  cards
C1 - Section 12 - credit notes
What are credit notes,
What are some of the reasons cred...,
What accompanies a return of goods
5  cards

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aat l2 - bookkeeping trans' chap' 1

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