Accounting Test Review Notes
Great for before class or to review right after class.
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Financial Accounting Book   Updated 6/14/18    Please link to ,use to educate, and share.

1. Accounting Equation   2. Merchandising   3. Assets: Current and Long-Term   4. Liabilities: Current  

5. Partnerships and Corporations   6. Long-Term Liabilities   7. Financial Analysis
 

Test 1 The Accounting Equation 11ps:
Overview of Accounting Cycle 

The Accounting Equation
Recording  Transactions
Help With Journal Entries
Adjustments, Worksheet, and Statements
Completing the Accounting Cycle
Cash Versus Accrual Accounting

Test 2 Merchandise Accounting: 4p

Merchandising
Special Journals for Accounting Systems

Test 3 Assets: Current and Long Term
Cash, Receivables, Inventory, Depreciation,
Extraordinary Repairs, Disposal of Plant Assets,
Natural Resources, Intangibles
: 9p

Voucher Systems and Petty Cash 
Bank Reconciliation

Bad Debts 
Notes Receivable

Inventory using LIFO, FIFO and WA 
Lower Cost or Market
Estimating Inventory Value
Depreciation Methods
Revising Depreciation
   
Extraordinary Repairs
Disposal of Plant Assets
Natural Resources, Intangibles 

Special Financing Assets Review for tests 4/5

Test 4 Liabilities: Current 3p

Notes Payable, Bank Loans
Property Taxes, Payroll, Warranties

Test 5 Partnerships and Corporations: 6p

Entry of a New Partner, Division of Income
Bonus to Withdrawing Partner, Liquidation
Issuing Stocks, Paying Dividends

Stockholders' Equity
Book Value,
Stock Subscriptions

Stock Splits, Stock Dividends, Treasury Stock
Prior Period Adjustments
   
Retained Earnings Appropriation

Statement of Retained Earnings
Stockholders' Equity
Earnings Per Share

Test 6 Long Term Liabilities
Time value of Money
Installment Notes Payable
Bonds Payable
5p


The Present And Future Value of Money 
 
Installment Notes Payable

Page 1 Issuing Bonds at a Discount
Issuing Bonds at a Premium,
Bond Sinking Funds 

Test 7 Financial Analysis
Cash Flows, Financial Statement Analysis,
Investment in Corporate Securities
:
9p 

Narrative Review

Cash Flows Classifications 
Operating Activity Cash Flow
Direct & Indirect Methods
Investing and Financing Activity
 Cash Flow Determination
  
Statement of Cash Flow Worksheet

Horizontal and Vertical Analysis  

Trend Analysis, Ratio Analysis

Investment in Short Term Corporate Securities
Control-Equity Method  
Consolidated Financial Statements
Other Considerations

 

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Updated 6/14/18   

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