A LITTLE PRACTICE, A LOT THAT STAYS
Free accounting flashcards: practise formulas and explain the answer
Start with the accounting starter deck
Recall’s original 25-card accounting deck covers introductory financial statements, costs, contribution margin and break-even. Preview every card before studying; check the references and match the scope to your course. It is a revision aid, not an official syllabus or a guarantee of exam coverage.
For definitions, answer in your own words before revealing. For formulas, name each variable and its unit. That makes it easier to notice when you have remembered a familiar-looking equation but cannot use it.
Work an example before memorising
A product sells for €30, variable cost is €18 per unit and fixed costs are €3,600. Contribution per unit is €12, so break-even is 3,600 ÷ 12 = 300 units. At 300 units, revenue and total costs both equal €9,000.
Now change fixed costs to €4,800 and contribution to €16 per unit. Break-even is again 300 units. Explain why the inputs changed but the answer did not. This simple model assumes positive unit contribution and constant prices and costs within the relevant range.
Turn mistakes into better cards
If you divide fixed costs by selling price, add a question asking why that leaves out variable costs. If you confuse a balance sheet with an income statement, make a card about a point in time versus a period.
Use typed recall or a practice test when formulas become too easy to recognise. The free deck can be copied into your library and edited. Your private review history is separate from the public deck. Anyone can read the preview; Recall’s studying service is intended for people aged 16 and over.
Study the accounting starter deck →
Import your own flashcards · Worked break-even example
Written for Recall · Updated 3 November 2026