Flashcards on Accounting test 1, created by Olivia Gniadek on 16/02/2016.
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Created by Olivia Gniadek
over 8 years ago
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Close
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Created by Olivia Gniadek
over 8 years ago
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Accounting Principles
Conservatism
Historical Cost
Entity
Reporting Period
Monetary Unit
Consistency
Going Concern
Qualitative Characteristic
Reliability
Relevance
Understandability
Comparability
The Accounting Process
Stage 1: Collecting Source Documents
Source Documents
Stage 2: Recording
Recording
Stage 3: Reporting
Reporting
Stage 4: Advice
Advice
Asset
Liabilities
Owner's Equity
Accounting Equation
Transactions
Classified Balance Sheet
