BUS210 Spring 2007 Exam _1 review topics

BUS210 Spring 2007 Exam _1 review topics - Useful...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
BUS210 Spring 2007 Exam #1 Review topics Three forms of business organization Corporation characteristics Definition of accounting Examples of internal users, external users Define A/R Define A/P Business Activities and examples Define income statement Define Retained Earnings statement Define Balance Sheet Define Cash Flow statement 1 of 4
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Components of annual report Basic Accounting equation Current Assets examples Current Liabilities examples Categories of Liabilities Operating cycle Stockholder’s Equity statement Liquidity definition
Background image of page 2
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Useful information characteristics Define Account & parts 2 of 4 Debits increase/ Credits increase Normal balance Double entry system Derive balance given transactions to T account Steps in recording process Define source documents Define journal Define ledger Time period assumption, fiscal year definition GAAP principles for accrual basis of accounting 3 of 4 Adjusting entries types & why they are needed Prepayment entry example Define unearned revenue Adjusted trial balance Closing entries 4 of 4...
View Full Document

This note was uploaded on 04/21/2009 for the course BUS 210 taught by Professor Schmeltz during the Spring '08 term at SUNY Stony Brook.

Page1 / 4

BUS210 Spring 2007 Exam _1 review topics - Useful...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online