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Brad H
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Decks in this class (42)
Review: Accounting Cycle Basics
What is an accounting transaction,
What types of events require reco...,
How do you determine if an econom...
137
cards
1.1: Financial Statements and Financial Reporting
What is the main objective of fin...,
What are the four main financial ...,
What are the alternative terms fo...
38
cards
1.2: Standard Setting
Why are accounting standards nece...,
What are generally accepted accou...,
What are the objectives of the ca...
9
cards
1.3: Generally Accepted Account Principles
What is the gaap hierarchy under ...,
What is aspe,
What is ifrs and how does it rela...
6
cards
1.4: Challenges and Opportunities in the Accounting Profession
What are some challenges and oppo...,
How has digitization and automati...,
What is data analytics in the con...
19
cards
2.1: Conceptual Framework
What is a conceptual framework in...,
Why is a conceptual framework nec...,
What are the main benefits of hav...
8
cards
2.2: Qualitative Characteristics of Useful Information
What are the qualitative characte...,
What is relevance in the context ...,
What is materiality in accounting
30
cards
2.3: Elements of Financial Statements
What are the basic elements of fi...,
What are the three essential char...,
What are the three essential char...
8
cards
2.4: Foundational Principals
What are the foundational princip...,
What are the 10 foundational prin...,
What is recognition in accounting
64
cards
2.5: Financial Reporting Issues
What is the main objective of fin...,
How is accounting influenced by i...,
What is a principles based approa...
8
cards
2.6: IFRS ASPE Comparison
How are ifrs and aspe similar in ...,
What is the ifrs foundation techn...,
What is the focus of the iasb s c...
4
cards
4.1: Performance
What are the different names for ...,
What is the statement of financia...,
What does the income statement me...
12
cards
4.2: Quality of Earnings/Information
What are the main limitations of ...,
What is underlying concept 43 about,
What are the two aspects generall...
10
cards
4.3: Measurement of Income
What are the three main types of ...,
What is underlying concept 45,
What is the difference between ne...
9
cards
4.4: Discontinued Operations
What are discontinued operations,
How are discontinued operations p...,
What is considered a component of...
8
cards
4.5: Statement of Income and Statement of Comprehensive Income
What is the main objective of fin...,
How should gains and losses gener...,
What is the distinction between r...
42
cards
4.6 The Statement of Retained Earnings and the Statement of Changes in Equity
What is the purpose of the statem...,
How are retained earnings present...,
What is underlying concept 411
9
cards
4.7 Disclosure and Analytics
What is the purpose of disclosure...,
What should be included in the no...,
What aspects of financial stateme...
6
cards
4.8 IFRS/ASPE Comparison
What are the requirements for pre...,
How does aspe differ from ifrs in...,
How does ifrs guide the classific...
14
cards
21.1 Changes in Accounting Policies and Estimates, and Errors
What are the three types of accou...,
What is a change in accounting po...,
What is a change in accounting es...
62
cards
21.2 Analytics
What are the main economic motive...,
How do companies use accounting m...,
How does a company s capital stru...
8
cards
21.3 IFRS/ASPE Comparison
How are accounting policies deter...,
How are accounting policies deter...,
What is the difference in how ifr...
5
cards
5.1: Usefullness of Statement of Financial Position and Cash flow from Business Perspective
What is the purpose of the statem...,
How do companies with more financ...,
How is the statement of cash flow...
6
cards
5.2 and 5.3: Usefulness and Limitations of the Statement of Financial Position
What is the purpose of the statem...,
How is the statement of financial...,
What is liquidity and how is it m...
21
cards
5.4: Preparation of Classified Statement of Financial Position (Balance)
What are current assets in the st...,
What are the five major items cla...,
How is cash classified in the sfp
37
cards
5.5: Other Required Disclosers
What are some key components ofte...,
Define contingency in accounting,
What is a provision under ifrs
10
cards
5.6: Techniques of Disclosure
What are some common techniques f...,
What are parenthetical explanatio...,
When are notes used instead of pa...
8
cards
5.7: Purpose, Content and Format of a Statement of Cash Flows
What is the main purpose of a sta...,
What are the three key types of a...,
What are some key questions that ...
7
cards
5.8: Preparation of Statement of Cash Flows
What are the four steps involved ...,
What information is required to p...,
What does the indirect method of ...
8
cards
5.9: Usefulness of Statement of Cash Flows
Why is cash flow considered more ...,
What do creditors look for in the...,
What does a low or negative amoun...
9
cards
5.10: IFRS/ASPE Comparison
What are the two main techniques ...,
What is the purpose of cross refe...,
What specific items must be prese...
7
cards
Appendix 5A: Ratio Analysis
1
cards
22.1: Purpose, Uses, and Importance of Cash, Cash Equivalents, and Cash flows
What is the primary purpose of th...,
What is the secondary objective o...,
Why is the statement of cash flow...
16
cards
22.2: Classification of Cash Flows
What are the three main classific...,
What do operating activities incl...,
Why are operating cash inflows an...
21
cards
22.3: Format of the Statement
What is the general order of sect...,
What is the indirect method for p...,
How is the direct method for prep...
14
cards
Basic Steps in the Preparation of the Statement of Cash Flows
What are the three sources of inf...,
What is step 1 in preparing a sta...,
What is step 2 in preparing a sta...
7
cards
22.5: Preparing a Statement of Cash flows using the Direct method
What is step 1 in preparing a sta...,
What is step 2 in preparing a sta...,
What are the key cash flow adjust...
7
cards
22.6: Preparing a Statement of Cash Flows Using the Indirect method
What is the main objective of the...,
In which section of the statement...,
What is the starting point for th...
16
cards
22.7: Preparing a statement of cash flows using both methods
What is the difference between th...,
What are the steps involved in pr...,
How does the direct method list c...
10
cards
22.8: Presentation
What are the key disclosure requi...,
How does ifrs recommend presentin...,
What is typically encouraged in i...
8
cards
22.9: Analyzing the Statement of Cash Flows
What are the three main sections ...,
Why is it important to analyze op...,
What factors should be considered...
11
cards
22.10: ASPE/IFRS Comparison
How do ifrs ias 7 and aspe differ...,
How is the presentation of intere...,
What are the disclosure requireme...
4
cards
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ACCO 310
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