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112 Cards in this Set
- Front
- Back
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Module 1
What is the value to various groups in society of a knowledge of accounting? |
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Module 1
What is the role of accounting in management? |
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Module 1
What is the need for, and use of, accounting information in decision making within any organisation? |
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Module 1
What is the accounting equation? |
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Module 1
What is the basic layout of the profit and loss account (sometimes called the income statement)? |
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Module 1
What is the basic layout of the balance sheet? |
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Module 1
What is the basic layout of the cash flow statement? |
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Module 1
What is the distinction between financial accounting and management accounting? |
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Module 2
What is the role of the profit and loss account in the measurement of corporate accomplishment and effort? |
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Module 2
What is the timing of revenue and expense and the role of accounting conventions? |
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Module 2
What is the impact on profit of different stock valuation methods and depreciation methods? |
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Module 2
What is the principal features of depreciation? |
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Module 2
What is the distinction between product costs and period costs? |
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Module 2
What are the implications of ‘gross profit’? |
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Module 2
What is What are the implications of ‘net profit’? |
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Module 3
What is the detailed structure of the balance sheet? |
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Module 3
What is the valuation problems surrounding fixed assets? |
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Module 3
What is the valuation problems surrounding inventories? |
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Module 3
What is the valuation problems surrounding debtors? |
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Module 3
What is the relationship between asset valuation and the measurement of profit? |
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Module 3
What is the impact of gearing on profits available for distribution to shareholders? |
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Module 3
Why a balance sheet must always balance? |
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Module 3
What is the significance, and construction, of the statement of cash flows? |
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Module 4
What is the need for a cash flow statement in addition to a profit and loss account and balance sheet? |
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Module 4
Is profit the same as cash? |
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Module 4
What are the major sources and uses of cash? |
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Module 4
How are cash sources and uses compiled into a cash flow statement ? |
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Module 4
How do you to interpret a cash flow statement? |
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Module 4
Why is cash flow from operations of critical importance? |
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Module 5
What are the legal and quasi-legal framework within which companies draw up their financial statements? |
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Module 5
What are the principal features of the disclosure requirements contained in the International Financial Reporting Standards? |
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Module 5
What are the principles and basic mechanics of group accounting? |
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Module 5
How do you read a published set of corporate financial statements? |
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Module 5
What is the role of the auditor and the report which he makes to the company? |
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Module 6
What is the need for ratio analysis of external financial statements? |
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Module 6
What are the strengths and weaknesses of ratio analysis? |
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Module 6
What are the most commonly used ratios for liquidity ratios? |
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Module 6
What are the most commonly used ratios for profitability ratios? |
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Module 6
What are the most commonly used ratios for capital structure ratios? |
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Module 6
What are the most commonly used ratios for efficiency ratios? |
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Module 6
How do you expand the external analysis to an integrated chart analysis focusing on return on investment? |
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Module 6
What are the basic stock market ratios? |
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Module 7
What are the difficulties involved in accounting for an acquisition? |
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Module 7
How does goodwill arise? |
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Module 7
How does goodwill differ from intangible assets? |
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Module 7
How is goodwill accounted for? |
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Module 7
How are intangible assets accounted for? |
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Module 7
What does impairment mean? |
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Module 7
How do you account for impairment? |
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Module 7
How are share options accounted for? |
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Module 7
What is the impact of share options on the bottom-line profits? |
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Module 7
How do corporate pension obligations make an impact on profit? |
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Module 7
How do corporate pensions make an impact on the balance sheet? |
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Module 7
What are the basic principles of financial instruments? |
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Module 7
How are financial instruments captured in corporate financial statements? |
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Module 7
What are the difference between provisions and contingencies? |
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Module 7
When companies should account for provisions? |
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Module 7
When companies should account for contingencies? |
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Module 7
Why are new topics such as management commentaries and corporate financial reporting currently under development in the field of financial reporting? |
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Module 8
What are the differences between management accounting and financial accounting? |
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Module 8
What are the planning and control features of a manager’s job? |
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Module 8
What is management accounting’s role in planning and control? |
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Module 8
What are the typical detailed internal decisions lying behind a set of published financial statements? |
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Module 8
What are the source of costs? |
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Module 8
How can individual costs be added together to determine the total cost of a product? |
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Module 8
How are that different costs and revenues are used for different management decisions? |
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Module 8
Why must management accounting systems be sufficiently flexible to allow managers to use the information for a variety of purposes? |
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Module 9
Why is cost information important? |
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Module 9
What is the distinction between variable and fixed costs? How do these costs behave? |
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Module 9
What is the distinction between product and period costs? How do these costs behave? |
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Module 9
What is the distinction between direct and indirect costs? How do these costs behave? |
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Module 9
What is the distinction between standard and actual costs? How do these costs behave? |
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Module 9
What is the distinction between controllable and non-controllable costs? How do these costs behave? |
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Module 9
What is the distinction between engineered and discretionary costs? How do these costs behave? |
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Module 9
What is the distinction between traceable and common costs? How do these costs behave? |
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Module 9
What are the dangers surrounding unitising fixed costs? |
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Module 9
What is the construction, and underlying assumptions, of the break-even chart? |
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Module 9
How do you calculate the break-even point in single-product business? |
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Module 9
How do you calculate the contribution margin ratio in single-product business? |
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Module 9
How do you calculate the break-even point in multi-product business? |
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Module 9
How do you calculate the contribution margin ratio in multi-product business? |
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Module 9
What is the managerial significance of calculating contribution margin ratios? |
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Module 10
What are the sources for costs of direct material, direct labour and overhead in the cost-gathering process? |
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Module 10
What are the use of cost centres to gather overhead costs? |
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Module 10
What is the application of activity bases to spread overhead to products? |
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Module 10
What is the distinction between plantwide and departmental predetermined overhead rates |
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Module 10
What are the costing issues involved in joint products and by-product? |
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Module 10
What are the costing issues involved in joint products and by-products? |
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Module 10
What is process costing, its use of equivalent units and its two principal methods? |
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Module 10
What is the need to question the appropriateness of traditional cost drivers and the basic mechanisms of activity-based costing? |
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Module 10
What is the need to question the appropriateness of traditional cost drivers and the basic mechanisms of activity-based costing? |
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Module 11
What is the distinction between full and variable costing? |
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Module 11
What is the impact on reported profit between the full and variable cost systems |
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Module 11
What is the concept of relevant cost for special decisions? |
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Module 11
What is the analytical framework surrounding relevant costs? |
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Module 11
What are the application of relevant costs to the make or buy decision? |
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Module 11
What are the application of relevant costs to opportunity cost? |
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Module 11
What are the application of relevant costs to sunk cost? |
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Module 11
What are the application of relevant costs to the special sales order? |
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Module 11
What are the application of relevant costs to further processing? |
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Module 12
What is the role played by budgets in an organisation? |
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Module 12
What are the problems surrounding budgets and how to solve these problems? |
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Module 12
What are the techniques of preparing a master budget and supporting schedules? |
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Module 12
What is the nature of discretionary expenditure? |
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Module 12
How zero-base budgeting can assist in allocating resources? |
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Module 13
What is the relationship between budgeting and standard costing? |
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Module 13
How are standard costs are set? |
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Module 13
What are the motivational aspects of standards? |
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Module 13
What is the role of flexible budgets? |
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Module 13
How do you calculate the principal variances surrounding material, labour and overhead costs? |
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Moddule 13
What are the possible reasons for variances and when should you investigate them? |
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Module 13
How do you calculate sales variances and what are the managerial significance of the numbers produced? |
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