About This Chapter
CLEP Financial Accounting Flashcards - Summary
If you need a quick refresher of topics covered in the CLEP Financial Accounting course, you've reached the right place! These flashcard sets enable you to use repetition and memorization skills to deepen your knowledge of financial statements, liabilities and other financial accounting concepts. Among topics covered in these flashcards are the following:
- Accounting basics
- Financial statements in accounting
- Accounting cycle mechanics
- Preparing financial statements and adjusting accounts
- Internal controls in accounting
- Accounting for merchandising
- Current and long-term liabilities in accounting
How They Work
Flashcards making it easy to absorb key details presented in the CLEP Financial Accounting course, and they allow you to set aside topics that require additional study time.
- Open a flashcard set for the financial accounting topic you're studying.
- Identify the word or concept on the flashcard.
- Click the button to flip the card and view the answer.
- Select whether you got it right or missed it to keep track of your progress.
- Click the Next arrow to proceed through the flashcard set.
- Review the cards you missed or shuffle all cards back in and go through them again.
Accounting Overview Flashcards
Balance sheets, assets, expenses and income. What does it all mean and how does it relate to business? This flashcard set will prepare you for your Accounting Overview exam.
Financial Statements in Accounting Flashcards
Work with these flashcards when you're ready to review the different financial statements used in accounting. You'll be able to focus on the formulas used in many of these statements.
Mechanics of the Accounting Cycle Flashcards
Work with these flashcards in order to focus on the mechanics associated with the accounting cycle. Go over different accounts and important accounting ratios.
Adjusting Accounts & Preparing Financial Statements Flashcards
Deeper into the accounting process we go! These flashcards will help you dust off your knowledge base of how to adjust accounts and prepare financial statements.
Internal Controls in Accounting Flashcards
You can use these flashcards to review some of the internal controls used in accounting. You'll also find cards that go over the steps that are involved in an audit.
Accounting for Merchandising Flashcards
Profits, market values, and net inventory valuation are the main ideas covered in this flashcard set. If you are ready to test your knowledge on these concepts, jump right in.
Current & Long-Term Liabilities in Accounting Flashcards
You can work with these flashcards to go over both current and long-term liabilities and how they are viewed in accounting. Focus on bonds and other liabilities with these cards.
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Other chapters within the CLEP Financial Accounting: Study Guide & Test Prep course
- Introduction to Accounting
- Financial Statements in Accounting
- Mechanics of the Accounting Cycle
- Adjusting Accounts and Preparing Financial Statements
- Internal Controls in Accounting
- Merchandising Operations and Inventory in Accounting
- Current and Long-Term Liabilities in Accounting
- Additional CLEP Financial Accounting Flashcards