Year 12 · VCE / Accounting
Flashcards and recall.
Make a short deck from material you need to recall without notes.
Try this with Accounting
- Write one prompt per card. Use definitions, explanations or examples from your current topic.
- Answer aloud before turning the card. Split a card if it asks for several unrelated facts.
- Set aside missed cards and revisit them in a later session.
Recall topics
- What are the debit and credit rules for ASSET accounts?
- What are the debit and credit rules for LIABILITY accounts?
- What are the debit and credit rules for EQUITY accounts?
- What are the debit and credit rules for REVENUE accounts?
- What are the debit and credit rules for EXPENSE accounts?
- What is the GST Clearing Account and when is it used?
- How is GST on purchases recorded in the journal?
- How is GST on sales recorded in the journal?
- When and how is GST paid to the ATO?
- How is a GST refund recorded when input tax exceeds output tax?
- What are the correct column headings for a Sales Journal?
- What are the correct column headings for a Purchases Journal?
- What is the purpose of a subsidiary ledger and how is it cross-referenced?
- Explain FIFO cost assignment for inventory.
- How is the sale of goods recorded under FIFO accounting?
- How are purchase and sales returns handled under FIFO?
- What is Balance c/d (balance carried down)?
- What is Balance b/d (balance brought down)?
- Explain the steps to balance a ledger account.
- What is a Trial Balance and what is its purpose?
- What are the limitations of a Trial Balance?
- How should Revenue be classified in an Income Statement?
- How is Cost of Sales (COGS) classified and calculated?
- How are Operating Expenses classified in the Income Statement?
- How should Current Assets be classified in the Balance Sheet?
- How should Non-Current Assets be classified in the Balance Sheet?
- How should Current Liabilities be classified in the Balance Sheet?
- What are the three activity categories in a Cash Flow Statement?
- How are cash receipts from customers calculated in Direct Method Cash Flow?
- What are the four qualitative characteristics and four accounting assumptions?
- What is a balance-day adjustment and why are they necessary?
- Journal entry and ledger treatment for accrued expenses adjustment.
- Journal entry and ledger treatment for prepaid expenses adjustment.
- Journal entry and ledger treatment for accrued revenue adjustment.
- Journal entry and ledger treatment for unearned revenue adjustment.
- Journal entry for depreciation adjustment and its balance-sheet impact.
- Journal entry and balance-sheet presentation for bad debt provision adjustment.
- How is the straight-line depreciation formula applied? Write the formula and calculate NBV.
- How is the reducing-balance depreciation formula applied? Write the formula and calculate NBV.
- Compare straight-line vs reducing-balance depreciation methods in terms of pattern and application.
Resource inventory inspected 4 November 2026. The main ATARMAXXING study platform is separate from tutoring. Topic labels show what was found, not a guarantee of complete curriculum coverage or tutor availability.
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