Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
19 Cards in this Set
- Front
- Back
|
Aging of Accts Recievable
|
-Classifying accts into age groups
* estimates uncollectable portion on accts recievable ex: current, 1-30 days overdue |
|
|
Bank Reconciliation
|
diff. between balance of cash in bank statement, and depositor's records
|
|
|
Allowance for doubtful accoutns
|
show portion of recievables estimated to be uncollectable
|
|
|
Market-to-market
|
applied to investments in marketable securities
|
|
|
Line of credit
|
bank lends advance to borrower
*liability |
|
|
factoring
|
uses accts. recievable
|
|
|
maturity date
|
date on which a not becomes due and payable
|
|
|
Maturity Value
|
value of a note at maturity date plus interest
|
|
|
NSF
|
Not Sufficient Funds
|
|
|
Cost Flow Assumption
|
sequence which units are removed from inventory for sale
- no physical movement |
|
|
Cost Layer
|
units of merchandise acquired at the same unit cost
|
|
|
Cost Ratio
|
cost of merchandise expressed as a % of its retail selling price
|
|
|
FOB shipping point
|
buyer held responsible
|
|
|
FOB destination
|
seller held responsible till its at buyers location
|
|
|
Inventory Turnover Rate
|
COGS
-------- Avg. amt. of inventory |
|
|
Moving average methode
|
used in perpetual system
|
|
|
Shrinkage Losses
|
losses of inventory from theft, spoilage, or breakage
|
|
|
Write-Down of asset
|
reduction in carrying amount of asset because its impaired
|
|
|
Accts. Recivables Turnover Rate
|
net sales
--------------- average recivables |
