Top Accounting Exam Flashcards

Cards: 17| Attempts: 4| Last updated: Sep 21, 2015

Difference Between Net Method And Gross Metho...

Net- P.MsoNormal, Li.Mso...

P.MsoNormal, Li.MsoNormal...

Cards: 27| Attempts: 1| Last updated: Sep 22, 2015

What Is Accounting?

The Language Of Business, Used To Measure And...

FInancial Accounting

Information Related To The Financial Resource...

Management Accounting

Development And Interpretation Of Accounting ...

Tax Accounting

Creation And Submission Of Legally Appropriat...

Cards: 37| Attempts: 1| Last updated: Sep 22, 2015

COGS Model

Beginning InventoryAdd: PurchasesCost Of Good...

FIFO

 Often Matches The Actual Physical Flow Of...

LIFO

A. “Gravel Pit Method”b. Can Results In A...

Weighted Average

The Average Unit Cost Of All Inventory...

Cards: 25| Attempts: 0| Last updated: Sep 18, 2015

Budgeted Sales Units+ Desired Ending FG= Tota...

= Total Production Units

Budgeted Prodction*Raw Materials Req. Per Uni...

= DM Purchases In $

Producion * DL Hrs/ Unit= Total DL Hrs Req.* ...

= Total DL Cost

Var OH Rate* Total DL Hrs= Total Var Oh+ Tota...

= Total OH Cost

Cards: 26| Attempts: 0| Last updated: Sep 30, 2015

Statement Of Cash Flows

Required Financial Statement, Prepared For A ...

Direct Method

Listing Of Receipts And Payments For Each Of ...

Operating Section

Reports The Cash Exchanged During Operating A...

Investing Section

Purchases And Sale Fo Noncurrent Assets, Inve...