Font size
WorksheetsACCOUNTING-U-1-4
Total questions: 20
Worksheet time: 19mins
the set of accounts which are prepared each year
annual financial statement
local accounting standards
balance sheet
double entry bookkeeping
all monies spent
deferral
income
expenditure
depreciation
an asset which is not consumed or sold during the normal course of business activities
VAT
credits
fixed asset
due diligence
a statement of all debits and credits in the double-entry account book, with any discrepancies shown
accrual basis accounting
income tax
code of conduct
trial balance
a company's debt or obligation
return
liability
payroll
balance sheet
The sales-director asked the (a) to issue bonuses to the top five sales people.
Before we can pay the invoice, we need to record the invoice as a (a) in the accounting system.
The (a) of the new machine will happen over 12 years.
The auditors checked the factory to make sure that all the (a) listed in the accounts were there.
When you (a) a transaction in the system, the programme will automatically post the second side of it.
a simple system of keeping financial records, where transactions are entered only once
single entry bookkeeping
double entry bookkeeping
an informal word for a set of financial records using double entry bookkeeping, with debits entered on the left and credits on the right
T-accounts
D-accounts
a form which is submitted to a tax authority
file
return
a journal of financial transactions entered on the day that they happened
daybooks
diary
the set of rules and laws for a country which govern how accounts should be prepared
overall accounting standards
local accounting standards
the state of being secret and/or kept secret
confidentiality
code of conduct
a specialist whose job is to carefully check the accounts and accounting practices of a company
CFO
auditor
the member of the accounting team who deals with sales, raises invoices and collects payment
purchase ledger clerk
sales ledger clerk
What's the most interesting thing about accounting you've learnt so far?
What comes to your mind when you think about accounting?
