Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how



Accelerated depreciation method Method that produces larger depreciation charges in the early years of an asset's life and smaller charges in its later years.
Account Record within an accounting system in which increases and decreases are entered and stored in a specific asset, liability, equity, revenue, or expense.
Account balance Difference between total debits and total credits (including the beginning balance) for an account.
Account form balance sheet Balance sheet that lists assets on the left side and liabilities and equity on the right.
Account payable Liability created by buying goods or services on credit; backed by the buyer's general credit standing.
Accounting Information and measurement system that identifies, records, and communicates relevant information about a company's business activities.
Accounting cycle Recurring steps performed each accounting period, starting with analyzing transactions and continuing through the post-closing trial balance (or reversing entries).
Accounting equation Equality involving a company's assets, liabilities, and equity; Assets = Liabilities + Equity; also called balance sheet equation.
Accounting information system People, records, and methods that collect and process data from transactions and events, organize them in useful forms, and communicate results to decision makers.
Accounting period Length of time covered by financial statements; also called reporting period.
Accounts payable ledger Subsidiary ledger listing individual creditor (supplier) accounts.
Accounts receivable Amounts due from customers for credit sales; backed by the customer's general credit standing.
Accounts receivable ledger Subsidiary ledger listing individual customer accounts.
Accounts receivable turnover Measure of both the quality and liquidity of accounts receivable; indicates how often receivables are received and collected during the period; computed by dividing net sales by average accounts receivable.
Accrual basis accounting Accounting system that recognizes revenues when earned and expenses when incurred; the basis for GAAP.
Accrued expenses Costs incurred in a period that are both unpaid and unrecorded; adjusting entries for recording accrued expenses involve increasing expenses and increasing liabilities.
Accrued revenues Revenues earned in a period that are both unrecorded and not yet received in cash (or other assets); adjusting entries for recording accrued revenues involve increasing assets and increasing revenues.
Accumulated depreciation Cumulative sum of all depreciation expense recorded for an asset.
Created by: Cabanillas
Popular Accounting sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards