AFM211 Financial Accounting Flashcards

Decks in this Class (14):

• Topic 1 Definitions

  Topic 1 - Definitions

  Sample Cards:

  the iasbs aasbs conceptual framework pro,

  why is the conceptual framework useful t,

  what is the definition of assets
  11 Cards
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• Topic 1 Introduction Revision

  Topic 1 - Introduction / Revision

  Sample Cards:

  what are debits and credits,

  which sides of a t account are debits an,

  what is the accounting equation
  29 Cards
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• Topic 2 Accounting For Assets

  Topic 2 - Accounting for Assets

  Sample Cards:

  define assets,

  what are the recognition criteria for as,

  what is the 2 step process when accounti
  16 Cards
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• Topic 2 Depreciation Of Non Current Asse

  Topic 2 - Depreciation of Non-Current Assets

  Sample Cards:

  what is depreciation,

  what are the three important questions t,

  define the depreciable amount
  13 Cards
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• Topic 2 Intangible Assets

  Topic 2 - Intangible Assets

  Sample Cards:

  what are intangible assets,

  what are some examples of identifiable i,

  what are some examples of unidentifiable
  16 Cards
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• Topic 2 Asset Revaluation Impairment

  Topic 2 - Asset Revaluation Impairment

  Sample Cards:

  what is included in the cost of property,

  how must all ppe be initially valued,

  how may subsequent valuations be based o
  22 Cards
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• Topic 3 Accounting For Inventory

  Topic 3 - Accounting for Inventory

  Sample Cards:

  what is inventory,

  quantas uses its planes to provide a tra,

  a hairdresser uses shampoo to wash the h
  20 Cards
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• Topic 4 Accounting For Liabilities

  Topic 4 - Accounting for Liabilities

  Sample Cards:

  differentiate between the three types of,

  what is the definition of a liability,

  what is the recognition criteria for a l
  12 Cards
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• Topic 4 Accounting For Leases

  Topic 4 - Accounting for Leases

  Sample Cards:

  define the term lease,

  define the term underlying asset,

  define the term lessor
  38 Cards
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• Topic 5 Owners Equity And Reserves

  Topic 5 - Owners Equity and Reserves

  Sample Cards:

  what is equity and which accounts make u
  1 Cards
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• Topic 5 Accounting For Equity And Debt O

  Topic 5 - Accounting for Equity and Debt Overview

  Sample Cards:

  entities usually prefer to have high lev,

  for some items it is difficult to decide,

  the accounting decision for redeemable p
  4 Cards
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• Topic 5 Accounting For Equity And Debt D

  Topic 5 - Accounting for Equity and Debt Debentures

  Sample Cards:

  what are debentures bonds,

  debentures bonds can be issued sold at p,

  differentiate between the coupon rate an
  14 Cards
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• Topic 7 Company Income Taxes

  Topic 7 - Company Income Taxes

  Sample Cards:

  what do basic financial accounting subje,

  the valuation recognition of assets liab,

  what do the differences between accounti
  12 Cards
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• Topic 8 Statement Of Cash Flows

  Topic 8 - Statement of Cash Flows

  Sample Cards:

  why is a statement of cash flows useful,

  define the terms cash and cash equivalen,

  what are the three different components
  21 Cards
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