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ACCOUNTING 0452/22 Paper 2 Structured Written Paper October/November 2022 1 hour 45 minutes You must answer on the question paper. No additional materials are needed. INSTRUCTIONS Answer all questions. Use a black or dark blue pen. You may use an HB pencil for any diagrams or graphs.
Accounting: The process of gathering and preparing financial information about a business or other organisation in a form that provides accurate and useful records and enables decisions to be made. Accounting cycle: This covers everything from opening the 'books' at the start of the year to closing
26 kwi 2015 · TEST VOCABULARY Comparability Financial statements must be comparable period to period Conservatism Considers all risks | strict rules Consistency Same accounting methods year to year Constraints Information has a cost/benefit and is material Cost principle Keep costs at purchase price or lower (lower of cost or market)
To help with this shared understanding, we’ve developed an alphabetical list of the most commonly used accounting words and phrases. This glossary includes those terms that business owners will encounter when interpreting their accounts or reviewing their financial information with their accountant.
In Grade 9 you learnt the basic accounting concepts and book entries. e best way to understand Accounting in Grade 10 is to: recap Grade 9 Accounting terminology understand the accounting cycle and apply it to the bookkeeping process understand the accounting equation and double entry. 1. Assets Assets belong to the business. ey can be divided ...
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Accounting: The process of recording, analyzing, reporting and interpreting the financial affect of business activities. Accounting basis: Refers to how financial transactions are measured for recording purposes. i.e. cash basis vs accrual basis, historical cost basis, going concern basis.
