key points is here maybe . .
Part 1
1.
____________ is the process of 2.____________3. ____________4.
____________ Economic information to permit informed judgment and decisions by
users of information.
5.
____________
means the recognition or non- recognition of accountable events.
6.
____________ is the process of preparing and
distributing reports to potential users of accounting information.
7.
Accounting is an art of ____________ 8. ____________
9. ____________ in a significant manner and in terms of money, transactions and
events which are in part at least of financial character and 10. ____________
11. ____________ is a procedures followed by
maintaining the book of accounts or the accounting records of an enterprise. It
is procedural or mechanical aspect of accounting.
12. ____________ the capacity of financial
information to influence decisions.
13. ____________
requires that relevant information should be presented in a way that it
facilitates understanding and avoids erroneous implication.
14. ____________
means that the financial statements should not be prepared so as to favor one
party to the detriment of another party.
15. ____________ a principles that’s says “ DO NOT COUNT THE
CHECKS UNTIL IT HATCHES, “ . It is when alternative exists, the alternative
which has least effect on equity shall be chosen.
16. ____________
requires that the financial information must be comprehensible or intelligible
if it is to be useful.
17. ____________
means the ability to bring together for the purpose of noting points of
likeness and difference.
18. ____________
controlled by the enterprise as a result of past events and from which future
economic benefits are expected to flow the entity.
19. ____________
represents the obligation of an entity.
20. ____________
is the residual interest in the assets of the entity after deducting all its
liabilities.
21. ____________
represents an increase in economic benefits.
22. ____________
represents a decrease in economic benefits.
23. ____________
are amount collectibles to the customers.
24. ____________
is amount payable to a creditor for complete services.
25. ____________
usually refers to money in the form of liquid currency, such as banknotes or
coins.
26. ____________ is a systematic listing of all accounts used
by an entity.
27. ____________
a value received.
28. ____________
a value parted with.
29. ____________
is when a business draws money for personal use.
30. ____________ a book of original entry.
31. ____________ a book of a final entry.
32. ____________
is a formal statement that reflects financial condition of a business for.
33. ____________
is a formal statement that reflects
sources and uses of cash.
34. ____________
is a formal statement that reflects
changes in capital accounts.
35. ____________
is a formal statement that reflects financial performance of the business for the
given.
36. ____________
is a document issued to acknowledge the receipt of cash.
37. ____________is
an exchange of value for value.
38. ____________
means that the accounting entity is viewed as continuing in operation indefinitely
in the absence of evidence to the contrary.
39. ____________
under this assumption, the business is separate from owners, managers,
employees who constitute the firms.
40. ____________
a formal record that represents, in words, money or other unit of measurement,
certain resources, claims to such resources
Part2
1.
GAAP
2.
ASC
3.
PFRS
4.
PAS
5.
FRSC
PART3
1.
3 DIRECT USERS AND 2 INDIRECT USERS
2.
.4 PHASES OF
3.
4 MEASUREMENT BASES
4.
9 ACCOUNTING CYCLE
5.
4 ACCOUNGTING ASSUMPTIONS
6.
5 ELEMENT OF FINANCIAL STATEMENTS
7.
4 COMPONENTS OF FINANCIAL STATEMENTS
8.
4 RECOGNITION PRINCIPLE
9.
5 POIN OF SALE REALIZATION PRINCIPLES
10. 5 BOOKS OF
ACCOUNTS
Part 4
1.
Entity theory
2.
Proprietary Theory
3.
Residual Equity Theory
4.
Fund theory
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