Accounting formulas Study guides, Class notes & Summaries
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AIN2601 EXCEL formula summary
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Good day fellow Accounting information systems students AIN2601. I have various material available for this module. EXCEL SAGE and accounting systems Available. This document is enough to help with understanding the basics on Excel. However I am selling a EXCEL spreadsheet that shows the formulas being applied practically. I also offer contact support 067 218 3906
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Accounting Principles and Formulas Exam with Answers 100% Correct
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Accounting Principles and Formulas Exam with Answers 100% Correct Accounting Principles and Formulas Exam with Answers 100% Correct Accounting Principles and Formulas Exam with Answers 100% Correct Accounting Principles and Formulas Exam with Answers 100% Correct Accounting Principles and Formulas Exam with Answers 100% Correct Accounting Principles and Formulas Exam with Answers 100% Correct Accounting Principles and Formulas Exam with Answers 100% Correct Accounting Principles and Formulas Exa...
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Principles of Accounting Exam #1 (With Formulas) || Questions & Answers (100% Verified)
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Principles of Accounting Exam #1 (With Formulas) || Questions & Answers (100% Verified) 
Principles of Accounting Exam #1 (With Formulas) || Questions & Answers (100% Verified) 
 
What does IFRS stand for? - ANSWER - International Financial Reporting Standards 
 
T or F? Generally Accepted Accounting Principles apply to the general-purpose financial statements prepared primarily for use by external parties of an organization - ANSWER - True 
 
T or F? Managerial accounting differentiates itself ...
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SOLUTION MANUAL FOR MANAGERIAL ACCOUNTING 18TH EDITION BY RAY GARRISON, ERIC NOREEN AND PETER BREWERR ALL CHAPTERS INCLUDED 2023/2024.
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SOLUTION MANUAL FOR MANAGERIAL ACCOUNTING 18TH EDITION BY RAY GARRISON, ERIC NOREEN AND PETER BREWERR ALL CHAPTERS INCLUDED 2023/2024. 
Chapter 1 
Managerial Accounting and Cost Concepts 
Questions 
1-1 The three major types of product costs 
in a manufacturing company are direct 
materials, direct labor, and manufacturing 
overhead. 
1-2 
a. Direct materials are an integral part of a 
finished product and their costs can be 
conveniently traced to it. 
b. Indirect materials are generally small ...
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Accounting Principles and Formulas exam questions and answers.
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Basic Accounting Equation 
Assets = Liabilities + Owner's Equity 
 
 
 
Business Entity 
The financial statements report about a single business. Every business gets its own set of books. Accountants do not mix in the owner's personal financial information. 
 
 
 
Current 
"Current" liabilities are those debts that must be paid within one year or one operating cycle, whichever is longer. 
 
 
 
Current Ratio 
Current Assets/Current Liabilities = Current Ratio 
 
 
 
Debt Ratio 
Total Liabili...
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AIAF 114 2.0 QUESTIONS AND CORRECT ANSWERS 2024/2025 GRADED A+ BEST FOR REVISION.
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AIAF 114 2.0 QUESTIONS AND 
CORRECT ANSWERS 2024/2025 
GRADED A+ BEST FOR REVISION. 
2 / 
24 
1. Loss reserve: An estimate of the amount of money the insurer expects to pay 
in the future for losses that have already occurred and been reported, but are not 
yet settled. 
2. Loss adjustment expense (LAE): The expense that an insurer incurs to 
inves- tigate, defend, and settle claims according to the terms specified in the 
insurance policy. 
3. Allocated loss adjustment expense (ALAE): The expen...
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SOLUTION MANUAL FOR MANAGERIAL ACCOUNTING 18TH EDITION BY RAY GARRISON, ERIC NOREEN AND PETER BREWERR ALL CHAPTERS INCLUDED 2023/2024.
- Exam (elaborations) • 1241 pages • 2023
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SOLUTION MANUAL FOR MANAGERIAL ACCOUNTING 18TH EDITION BY RAY GARRISON, ERIC NOREEN AND PETER BREWERR ALL CHAPTERS INCLUDED 2023/2024. 
Chapter 1 
Managerial Accounting and Cost Concepts 
Questions 
1-1 The three major types of product costs 
in a manufacturing company are direct 
materials, direct labor, and manufacturing 
overhead. 
1-2 
a. Direct materials are an integral part of a 
finished product and their costs can be 
conveniently traced to it. 
b. Indirect materials are generally small ...
-
Managerial Accounting Formulas - Exam 1 With 100% Correct And Verified Answers
- Exam (elaborations) • 3 pages • 2023
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Managerial Accounting Formulas - Exam 1 With 100% Correct And Verified Answers 
Manufacturing Overhead Rate - Correct Answer-budgeted MOH / cost driver 
 
Operating Income - Correct Answer-contribution margin - fixed costs 
 
DL - Correct Answer-"touch labor" , traceable 
 
IL - Correct Answer-goes into MOH , NOT traceable 
 
MOH - Correct Answer-any cost not DM or DL (IM , IL & other costs) 
 
Prime Cost - Correct Answer-DM + DL 
 
Conversion Cost - Correct Answer-DL + MOH 
 
Raw Materials In...
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Accounting Principles and Formulas Questions and Answers
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Accounting Principles and Formulas Questions and Answers
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Accounting Principles and Formulas Questions With Verified Answers | UPDATED
- Exam (elaborations) • 8 pages • 2023
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Accounting Principles and 
Formulas Questions With 
Verified Answers | UPDATED 
Basic Accounting Equation - ANSWER Assets = Liabilities + 
Owner's Equity 
Business Entity - ANSWER The financial statements report 
about a single business. Every business gets its own set of 
books. Accountants do not mix in the owner's personal financial 
information. 
Current - ANSWER "Current" liabilities are those debts that must 
be paid within one year or one operating cycle, whichever is 
longer....
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