Accounting concepts

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  • Created by: i.capocci
  • Created on: 20-06-16 15:18
I F V C R S X N M N T T R U D D C E D O G
O D O W W T G A P W Y S C J L S O E K D S
A O R T P B A P F K P E K T G D B S A I F
B K R J M N M Y H K L O B U O E U Y A T U
S G R E A L I S A T I O N P K T F X V P Y
P C M C J U G B J S Y B U K F S J I N O U
L T K H C O N S I S T E N C Y V S I W C F
Q M O N E Y M E A S U R E M E N T P E G D
B U S I N E S S E N I T I T Y Q C I M L A
Y K O P V T R M A T E R I A L I T Y G V V
V O R Y E Q P B W P J O J W Q C L C X K X
H J T X M N C W P E S N O S J O Y N Y J D
D Y N W E O D I E F N A C K Q W C O C R G
R M K W X B L Q F W H P C V N E L P F S P
T H E S S Y M P R U D E N C E R L J I D F
Q V X N R D K M T A C C U R A L S O M Y C
D B B M C R L K R Y R D U A L A L I T Y O
E A P E W L G J P H B F J H F I A P Q V Q
C N L G O I N G C O N C E R N N W K U I D
J O M D A V H M U W W M O Y J Y F D Y O C
N C L O P N Y J I N Q Q G Q E S M L X O P

Clues

  • Accounts of business owner and business should be kept seperate (8, 7)
  • Drawing accounts must assumes the business will continue to trade. (5, 7)
  • Every transaction has a+ive and -ive effect of equal value (9)
  • Must not overestimate value of business (1) only record revenue if goods paid for or exchanged (11)
  • Must not overestimate value of the business (8)
  • Only need to record assets/costs of significant value on finals account (11)
  • Should have a uniform approach to putting accounts together (11)
  • When used something which has not been paid for (8)
  • You can only record things which have a financial value (5, 11)

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