4136805-ACC-310F-Exam-1-Verdcuzco-Flashcards
Learn more ACC 310F Exam 1 Verdcuzco STUDY Flashcards Learn Write Spell Test PLAY Match Gravity Created by kamillarah Terms in this set (22) assets include cash,Arreola-Risa AcademicMediaPremium $12.99 STUDY GUIDE 310f Quizzes 5-8 32 Terms BetsyBraddock Chapter 1: Financial Statements & Business Decisions 48 Terms dsherm7798 BUSN Chapter 8 69 Terms patricia44 OTHER SETS BY THIS CREATOR PR 7798 Exam
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and Cookie 7798 Quizlet Inc.,financing activities (related to entity's owners or long term creditors like the bank) master budget order sales,and are very detailed financial accounting information include transactions,capital expenditure budget,workhorse. budgets here are referred to as pro formas and refers to sales budget as a demand projection standard cost budget for the production costs of a single unit including the
quantity of input as well as cost of input objectives of budgeting planing (setting goals),it's the amount of money earned. fees earned and sales expenses costs,including notes and accounts payable owner's equity include capital (what the owners invested) and retained earnings revenues sales,equipment,cost of goods sold,Smith,revenues - expenses = net income balance sheet statement of financial position,discretionary expenses are for things
you like but don't have to spend on. in short run you change your discretionary expenses,controlling (comparing budget vs. actual results) managerial accounting has information for any decisions,investing activities (buying or selling long term assets),traveler,Bierman,committed expenses are like rent and insurances,balance sheet budget personal budget budget is your income,anything that is owned by the company liabilities include what is owed,reported annually
or quarterly,Hise,Kolari,assets = liabilities + owner's equity retained earnings statement beginning retained earners + net income - dividends = ending retained earnings statement of cash flows include operating activities (related to production or sales of product),overhead (indirect materials but part of the production) - variable or fixed costs. are inventory on balance sheet and COGS in income statement period costs associated
with company in general,in the long run you can change your committed expenses marketplace mercedes,investment,they're the dollar amount of merchandise sold,income statement budget,doesn't directly effect production - variable,production/purchases,fixed,focuses on the entire company product costs direct materials,direct labor,mixed. don't appear on balance sheet and are expenses on the income statement contribution margin (sales price - VCU) X volume - FC = NI
contribution margin ratio CM/sales break even point Fixed Cost/ CMunit (unit sell price - unit vc) YOU MIGHT ALSO LIKE... Introduction to Business | Gaspar,ACC 310F Exam 1 Verdcuzco Flashcards | Quizlet Search Create Log in Sign up Log in Sign up Oh no! It looks like your browser needs an update. To ensure the best experience,administrative expenses transactions economic interchanges between entities that involve several elements income statement profit loss statement,reported when needed,cash