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Business & Finance

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Accounting (Sample)

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Basic Bookkeeping & VAT

Master Basic Bookkeeping & VAT with Picmonic for College

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Basic Bookkeeping & VAT

1.

LIFO and FIFO

Picmonic

1 min

2.

Cash Conversion Cycle

Picmonic

2 mins

3.

Inventory Turnover

Picmonic

2 mins

4.

Receivable Turnover

Picmonic

53 secs

5.

Accounts Payable Turnover

Picmonic

1 min

Basic Bookkeeping & VAT

Sourcerer

VzylNicky1535

9 KEY FACTS

Original Record of a Transaction

Full Tax Inv. required when exceeding 5000.00 Arbridged Inv more than 50 less than 5000.00

Cash received when VAT is charged

Deposit Cash & Cheques into bank account

Retrain counterfoil of cheque

NOT Valid Document for VAT purposes - Have Tax Inv when paying

Internal cash payments

Internal Transaction in General Ledger

The Classy Cat Dipped Cheesy Egg Pastries in Jelly

Unlock all 9 facts & definitions with Picmonic Free!

Take the Basic Bookkeeping & VAT Quiz

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