AC 201 Fundamental Accounting 2010

absorbed cost absorbed overhead absorption costing acceptance acclelrated depreciation accomulated income account balance account current account day account payable account receivable account receivable discounted account receivable turnover account sales account stated accountancy accountant accounting accounting act. B.E.2543 (2000) accounting professional act.BE.2547(2004) accounting change accounting control accounting cycle accounting entity accounting entry accounting equation accounting error adjustment accounting evidence accounting information accounting Information system accounting manual accounting period accounting policies accounting practice accounting procedure accounting records accounting standard

2543 2547

AC 201 Fundamental Accounting 2010

accounting system accounting transaction accounting unit accounting valuation accrual accrual basis accrued dividend accrued expense accrued income accrued interest accrued interest payable accued interest receivable accumulate accumulated depreciation accumulated dividend accrued liability account receivable financing activity actual cost added value adjusted entry adjusted trial balance adjustment administrative accounting administrative audit administrative expense advance affiliated company agenda agent aging schedule allocate allocation allowance allowance for bad debts allowance for doubtful accounts amortization analysis analytical review annual audit annual closing annual financial statement annual report applied cost

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AC 201 Fundamental Accounting 2010

appraisal appraisal surplus appraised value appropriated retained earnings, appropriation appropriation account appropriation budget appropriation of net income arbitrary articles of association, articles of incorporation asset asset turnover assigned accounts receivable assignment assumption assumption at par audit audit adjustment audit around the computer audit evidence audit guide audit memorandum audit notebook audit opinion audit period audit plan audit planning audit program audit report audit risk audit standard audit technique audit test audit through the computer audit trail audit working papers audit year auditability auditing auditing procedure auditing standards

AC 201 Fundamental Accounting 2010

auditor auditors certificate auditors opinion auditors report authorized capital stock authorized company authorized security average average collection period average cost bad debt balance balance sheet balance sheet account bank bank balance bank charge bank confirmation bank credit bank discount bank loan bank note bank overdraft bank reconciliation bank report bank statement bank statement barter base period, basic assumption of accounting basic concept basic principle of accounting basis of accounting basis swap batch costing bias bill of exchange bill of lading bill payable bill receivable black market bond bond discount bond premium

AC 201 Fundamental Accounting 2010

bond, debenture book of account book of orginal entry, book value book value per share bookkeeper bookkeeping boud fund bought day book branch branch accounts break-even analysis break-even chart break-even point bring forward broker brokerage brought forward budget budget document budget manual budget period budget period budget variance budgetary control building, plant business combination business risks business transaction by product capacity ratio capacity variance capital capital account capital budget capital expenditure capital fund capital gain capital reserve capital stock capital surplus carry forward carrying cost cash cash account

AC 201 Fundamental Accounting 2010

cash at bank cash basis cash book cash book C.B. cash budget cash disbursement journal cash discount cash dividend cash equivalent cash flow cash flow statement cash inflow cash journal cash on hand cash outflow cash receipts journal cash-flow budget cashiers cheque certificate of deposit certified check certified internal auditor certified public accountant (CPA) charity chart of accounts check register cheque clearing accounts closing entry closing trial balance collection period combined financial statement commission common stock comparative financial statement completed contract method completeness compliance audit composite depreciation method composite depreciation rate compound interest depreciation method concept

AC 201 Fundamental Accounting 2010

condensed financial statement confirmation conservatism consignee consignment consignor consistency consolidated financial statement consolidation contingence contingent asset contingent charge contingent cost contingent liability contra accounts contract contribution margin control account controllable cost controller, comptroller conversion conversion cost convertible bond copyright corporation cost cost accounting cost allocation cost and freight cost and freight (C;F) cost and freight C;F cost method cost of goods manufactured cost of goods sold cost of production cost of sales cost unit cost, insurance and freight (C.I.F.) cost-benefit analysis cost-plus pricing cost-volume-profit analysis capital asset

AC 201 Fundamental Accounting 2010

credit credit balance cross check cross currency interest rate swap cross-reference currency futures currency option currency seap current account current asset current cost current file current liability current operating performance current ratio cut-off day book day rate debenture stock debit debit balance debit note debt ratio debtor declared dividend declining balance method defective product deferred charge deferred debit deferred debt deferred expense deferred income deferred income tax deferred revenue deficit depletion deposit deposit account deposit-taker depreciation depreciation adjustment detail account devaluation

AC 201 Fundamental Accounting 2010

differentail cost differential direct costing direct labor direct material direct material cost direct overhead direct wages disclosure discount discount received distribution expense dividend documentary credit double-entry system doubtful accouhts down payment drawing account earned surplus earnings earnings before Interest after Tax (EBIAT) earnings before per share (EBIT) earnings per share earnings statement effective rate (of interest) employment endorse enterprise accounting entity accounting entrepreneur equipment error estate estimated liability evidence exchange cheque exchange rate expenditure expense external audit external document extraordinary item face value

AC 201 Fundamental Accounting 2010

factoring factory agenda factory overhad variance factory overhead factory overhead expense fair market value fair price fair value fairness favorable variance feedback value fianancial statement financial accounting financial audit financial document financial expense financial expenses financial statement financing activities finished goods first in, first out FIFO fiscal year fixed asset fixed budget fixed cost fixed expense flexed budget flexible budget flexible exchange rate floating rate note (FRN) flowchart folio footing footnotes to financial statement forecasting foreian exchange forward contract forward exchange contract forward rate forward rate agreement franchise franchisee free on board (F.O.B.) free on Board F.O.B.

AC 201 Fundamental Accounting 2010

freight freight in freight out full absorption costing full costing functiconal accounting fund fund accounting funds flow statement furniture and fixtrues gains general journal general ledger generally accepted accounting principles generally accepted accounting standard goods goods in process goods on consignment goodwill governmental accounting gross gross book value gross earnings, gross income gross loss gross profit gross profit method group depreciation method guaranteed bond hire hire charge hire purchase historical historical cost historical cost principle holding company imprest cash income income tax incremental incremental cost incremental revenue independent

AC 201 Fundamental Accounting 2010

index indirect cost indirect cost centre indirect expense indirect labor indirect material indorse inflation input tax installment method of accounting installment sale installment, instalment instrument intanbible asset intangible intangible fixed asset interest interest rate futures interim dividend interim financial statement internal audit internal control internal control system inventory inventory control inventory turnover investing actitities investment invoice job job card job cost job order costing job order costing job sheet joint cost joint venture journal journal voucher labor variance land land mortgage last in, first out LIFO leasehold

AC 201 Fundamental Accounting 2010

leasing ledger account legal mortgage letter of comfort letter of credit L/C letter of undertaking liability liability dividend limited - life asset limited company limited partnership liquidation value liquidity ratio listed company listed security loan payable loan receivable local area network LAN long-term contract long-term debt long-term liability loss loss per share lower of cost or market machinery maintenance managed cost management audit management information system (MIS) manufacturing cost manufacturing expense manufacturing overhead, marginal deposit mark on mark up markdown market price market research market value marketable security marketing research master budget matching material

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AC 201 Fundamental Accounting 2010

material cost materiality memorandum of association merger merger accounting monthly statement mortgage moving average multiple-step income statement nature , due net book value net loss net present value net profit net realizable value net sales net working capital net worth network non-monetary items note payable note receivable notes to financial statement obsolete of depreciation office equipment off-line offset account operating activities operating cycle operating expense operational audit opportunity cost other assets, other expenses other income other liability output tax overhead overhead cost owners equity packing credit paid-in capital par value

AC 201 Fundamental Accounting 2010

parent company partner partnership patent payback period payroll peety cash book pension fund percentage of completion method performance audit period cost periodic inventory method permanent file perpetual inventory method personal account petty cash physical check, pledging of accounts receivable posting preaudit predecessor auditor preclosing trial balance predetermined overhead rate preferred stock premium on share prepaid expense present value present value PV. price variance primary earnings per share prime cost prime rate prime rate principles of accounting private company private offering, procedure process costing product product cost production control productive output method professional Ethics-Auditor

AC 201 Fundamental Accounting 2010

profit profit and loss account profit and loss appropriation account profit and loss statement promissory note property property, plant and equipment provident fund qualified qualified auditors report qualified opinion quick asset quick ratio rate of return Ratio raw material real account realized gain (loss) realized revenue receivable recipt reconciliation related company reliability Rent repair reperformance replacement cost reserve residual value responsibility accounting retail price retained earnings

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AC 201 Fundamental Accounting 2010

retained earnings statement retention money return on common equity revaluation revenue revenue account revenue expenditure revenue income revenue realization principle revenue recongnition review royalty safety stock salary sale sales day book sales discount sales invoice sales journal sales ledger sales return sales value sample schedule scrap scrap value secured bond securities company security security portfolio sell seller selling expense ,

AC 201 Fundamental Accounting 2010

semifixed cost service-hours method share shareholder shareholders equity

short-term liability single currency interest rate swap single-entry system single-step income statement sinking fund sinking fund method spoilage stamp duty standard standard cost standard costing standard price standby letter of credit state enterprise stated value statement statement of changes in financial position statement of financial position statement of sources and applications of funds stock stock dividend stock split straight-line method subsidiary subsidiary accounts subsidiary company subsidiary ledger ,

AC 201 Fundamental Accounting 2010

subsidize sum-of-the-years-digitsmethod sunk cost supplementary statement supply surplus suspense account T account takeover tangible tangible fixed asset tax avoidance temporary account temporary investment test time-interest-earned tool trace trade account payable trade discount transaction transportation expense travelling expense treasury shares trial balance trust receipt typwriter unadjusted trial balance unappropriated retained earnings uncontrollable cost unearned revenue unfavorable variance unissued capital shares

AC 201 Fundamental Accounting 2010

unit cost unit price unrealized gain (loss) unrealized revenue unused letter of credit useful life voucher voucher register voucher system vouching wage wage rate variance wages account warrants waste weighted average withholding tax without rights work in process work in progress work order working capital write down write off write up year after year year-around year-end yearly youngling

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AC 201 Fundamental Accounting 2010