Shared Flashcard Set

Details

Chapter 19
Auditing Test #3
5
Accounting
Undergraduate 4
12/06/2011

Additional Accounting Flashcards

 


 

Cards

Term
Accrued Liabilities
Definition
estimated unpaid obligations for services or benefits that have been received prior to the balance sheet date; common accrued liabilities include accrued commissions, accrued income taxes, accrued payroll, and accrued rent
Term
Allocation
Definition
the division of certain expenses, such as depreciation and manufacturing overhead, among several expense accounts
Term
Expense account analysis
Definition
the examination of underlying documentation of individual transactions and amounts making up the total of an expense account
Term
Fixed Asset Master file
Definition
a computer file containing records for each piece of equipment and other types of property owned; the primary accounting record for manufacturing equipment and other property, plant,, and equipment accounts
Term
Insurance register
Definition
a record of insurance policies in force, the expiration date of each policy, premium amount and terms, and other policy specifics
Supporting users have an ad free experience!