BUS210 Exam _1 review topics

BUS210 Exam _1 review topics - Going concern Basic...

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

View Full Document Right Arrow Icon
BUS210 Exam #1 Review topics Forms of business organization Corporation characteristics Definition of accounting Examples of internal users, external users Accounts receivable/ accounts payable Business Activities Define income statement Define Balance Sheet Define retained earnings 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
Define cash flow statement Parts of Annual Report Assets/ liabilities of classified balance sheet Operating cycle Calculation of current assets to be reported on balance sheet Profitability measurements Liquidity measurements GAAP Useful information characteristics 2 of 4
Background image of page 2
Conservatism Materiality Time period assumption
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: Going concern Basic accounting equation Effect on basic accounting equation when liabilities increase; an investment is received; if services are performed on account Define Account & parts Debits increase/ Credits increase Normal balance 3 of 4 Steps in recording process Define journal Recognize proper journal entry Define ledger Define trial balance GAAP principles for accrual basis of accounting Cash basis Adjusting entries types and definitions Prepayment entry example Define accumulated depreciation Adjusted trial balance Closing entries 4 of 4...
View Full Document

This note was uploaded on 02/27/2011 for the course BUS 210 taught by Professor Schmeltz during the Spring '08 term at SUNY Stony Brook.

Page1 / 4

BUS210 Exam _1 review topics - Going concern Basic...

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