Accounting / Finance for Beginners / Finance for beginners (course)

Accounting Principles (cardbox)

The 21 flashcards

1

Explain the meaning of generally accepted accounting ...

generally accepted means that these principles must have ...
2

FASB's conceptual framework consists of the following four ...

1. objectives of financial reporting 2. Qualitative ...
3

Describe the basic objectives of financial reporting

1. Is useful to those making investment and credit ...
4

Discuss the qualitative characteristics of accounting ...

1. Relevance 2. Reliability 3. Comparability 4. Consistency
5

Relevance

accounting information has relevance if it makes a ...
Show all 21 cards

Information

Accounting Principles, conceptual frame work, assumptions, principles, constraints...

Created by: bronxbomers55 on January 31st 2007, 21:57.

Last updated by: bronxbomers55 on February 4th 2007, 22:25.

Editing privileges: Any pro user.

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Being studied by: khawajaas, Onosh, bschwar2, walterbaddoo, geek422 and 452 other persons.

Comments

# jmp274 wrote on 06/19/2009, 19:38:

What is COGs in the last flashcard?

Reply
- # geoduran replied on 12/13/2010, 04:42:
  
  cost of goods sold, in other words the amount of money that a business paid for producing what is is selling. This cost would include labor, materials, benefits, usage of utilities, etc...
  
  Reply

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