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rickey medley
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Decks in this class (72)
F1 - M1 - Standards and Conceptual Framework
____ has legal authority to estab...,
The sec has allocated the ______ ...,
______ is the current standard se...
84
cards
M1 - F2 - Income Statement and Balance Sheet
The purpose of the _______ is to ...,
What are to method to record cost 2,
____ is the amount expended for i...
45
cards
F1-M3 - Revenue Recognition: Part 1
What is the mnemonic for the five...,
What are the five steps approach ...,
_______ are agreements between pa...
27
cards
M1-F4 - Revenue Recognition: Part 2
______ are costs of obtaining a c...,
Incremental cost are recognized a...,
If an entity has cost that would ...
62
cards
M1- F5 - Income Statement: Discontinued Operations
Accounting for discontinued opera...,
Discontinued operations are shown...,
A ______ of an entity is a part o...
12
cards
M1-F6 - Accounting Changes and Error Corrections
How are changes in account estima...,
How are changes in lives of fixed...,
How are adjust of year end accrua...
21
cards
F1 - M7 - Statement of Comprehensive Income
What is the equation for comprehe...,
______ is the change in equity ne...,
Net income includes 2
11
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F1 - M8 - Adjusting Journal Entries
_________ accounting matches reve...,
Accrual basis accounting matches ...,
If revenue has been ______ the co...
9
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F2- M1 - Notes to Financial Statements
The __________ reflects the metho...,
The other notes are used to discl...,
The summary of significant accoun...
9
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F2 - M2 - Going Concern
An entity is considered to be a _...,
Under us gaap preparation of fina...,
Management is required to evaluat...
12
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F2 - M3 - Subsequent Events
A ___________ is an event or tran...,
A subsequent event is an event or...,
Recognized subsequent events prov...
11
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F2- M4 - Fair Value Measurements
________ is the price that would ...,
The ____________ is the market wi...,
What are the three approaches an ...
17
cards
F2 - M5 - Segment Reporting
In order to conform to us gaap an...,
A reportable segment exists if it...,
Is a disclosure of segment liabil...
25
cards
F2- M6 - SEC Reporting Requirements
Form _____ must be filed annually...,
The filing deadline for form 10 k...,
The filing deadline for form 10 k...
36
cards
F2-M7 - Special Purpose Frameworks
_______ presentations include fin...,
Other financial statement present...,
Revenue recognition for _____ bas...
12
cards
F2- M8 - Ratio Analysis
________ are financial indicators...,
An entity s ratios may be compare...,
________ ratios are measures of a...
32
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F2-M9 - Partnerships
Contributions by a partner to a p...,
Contributions by a partner to a p...,
Admission of new partners may be ...
29
cards
F3-M1 - Cash and Cash Equivalents
Cash equivalents are highly liqui...,
_______ cash must be segregated f...,
________ reconcile ending balance...
11
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M3 - M2 - Trade Receivables
Valuing accounts receivable requi...,
___________ balance is the approx...,
Sales and related receivables can...
38
cards
F3 - M3 - Inventory
What are the four types of invent...,
All inventories owned by an entit...,
_________ terms can be used to es...
65
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F3 - M4 - PP&E: Cost Basis
________ are assets acquired for ...,
Under _________ fixed assets are ...,
Donated fixed assets are recorded at
45
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F3 - M5 - PP&E: Depreciation and Disposal
______ depreciation is related to...,
______ depreciation arises from o...,
Under the ________ depreciation m...
17
cards
F3 - M6 - Nonmonetary Transactions
Under us gaap exchanges having __...,
If exchanges have commercial subs...,
Under ______ nonmonetary exchange...
10
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F3 - M7 - Intangibles
________ are long lived legal rig...,
Purchased identifiable intangible...,
Under us gaap ___________related ...
24
cards
F3 - M8 - Impairment
Under us gaap finite life intangi...,
The first of the two step test ar...,
The second of the two step test a...
19
cards
F4 - M1 - Financial Instruments
Financial assets include cash own...,
_________ represent obligations t...,
_________ include cash ownership ...
29
cards
F4 - M2 - Equity Method
The _____method is used to accoun...,
Ownership of _______ percent of t...,
For equity method account record ...
15
cards
F4 - M3 - Basic Consolidation Concepts
Under the _______ model consolida...,
An investor is considered to have...,
Business combinations that do not...
8
cards
F4 - M4 - Acquisition Method: Part 1
The acquisition is recorded for t...,
For acquisition price of consolid...,
Under the acquisition method the ...
11
cards
F4 - M5 - Acquisition Method: Part 2
Under us gaap noncontrolling inte...,
Under us gaap goodwill is calcula...,
_____ allows the use of the full ...
6
cards
F4 - M6 - Intercompany Transactions
Eliminating intercompany transact...,
Eliminate all intercompany accoun...,
Intercompany inventory transactio...
8
cards
F4 - M7 - Consolidated Financial Statements
The consolidated balance sheet in...,
Noncontrolling interest is presen...,
The consolidated income statement...
7
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M4 - M8 - Goodwill, Including Impairment
_______represents the intangible ...,
Goodwill is ______ excess earning...,
Under us gaap goodwill impairment...
5
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M5 - M1 - Payables and Accrued Liabilities
___________ are probable future s...,
Liabilities must be identified as...,
Current liabilities are obligatio...
24
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M5 - M2 - Contingencies and Commitments
__________ are existing condition...,
The three categories of contingen...,
A ________ involves a possible fu...
13
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M5 - M3 - Long-Term Liabilities
_________ are probable sacrifices...,
__________ contractual rights to ...,
Notes payable contractual rights ...
6
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M5 - M4 - Bonds: Part 1
____________ are long term debt i...,
________ are unsecured bonds,
_________ are bonds sold with no ...
13
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F5 - M5 - Bonds : Part 2
Bonds can be issued for more or l...,
If bonds are sold below 100 the d...,
_________result from market inter...
13
cards
F5 - M6 - Troubled Debt Restructuring and Extinguishment
___________ generally involves a ...,
For troubled debt restructuring t...,
For troubled debt restructuring t...
14
cards
F6 - M1 - Leases: Part 1
A _______ is a contractual agreem...,
A lease is a contractual agreemen...,
What is the criteria for classify...
12
cards
F6 - M2 - Leases: Part 2
If the lease is an operating leas...,
On the income statement _______ w...,
If the lease is a finance lease t...
13
cards
F6 - M3 - Derivatives and Hedge Accounting
______ are financial instruments ...,
Derivatives are financial instrum...,
_________ and ______ are the inhe...
9
cards
F6 - M4 - Foreign Currency Accounting
__________ are transactions denom...,
__________ is the conversion of f...,
_________ is the process of conve...
11
cards
F6 - M5 - Income Taxes: Part 1
Gaap and tax accounting rules dif...,
When a temporary difference is in...,
When a temporary difference is in...
15
cards
F6 - M6 - Income Taxes: Part 2
An _______ represents some level ...,
Us gaap requires a ________ level...,
Because the measurement of deferr...
14
cards
F7 - M1 - Pension Benefits: Part 1
Pension plans can be classified as 2,
As employees work the _________ a...,
A defined benefit pension plan ha...
15
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F7- M2 - Pension Benefits: Part 2
Both ______and ______require that...,
A plan s funded status is calcula...,
A plan is ____________ when the p...
11
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F7-M3 - Retirement Benefits Other Than Pensions
The cost of retirement health car...,
Benefits are accrued over the att...,
____________ must be reported as ...
12
cards
F7- M4 - Financial Statements of Employee Benefit Plans
A ______ and the _________ are tw...,
Pension plan accounting for the s...,
In addition to the accounting and...
13
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F7 - M5 - Stockholders' Equity: Part 1
Stockholders owners equity includ...,
When an entity presents consolida...,
Capital stock includes these terms 3
15
cards
F7 - M6 - Stockholders' Equity: Part 2
_________ are contracts to buy a ...,
___________ provide existing shar...,
Dividends declared reduce ______ ...
10
cards
F7 - M7 - Stock Compensation
A ________ is the right to purcha...,
Under traditional stock option an...,
The cost of compensation is measu...
16
cards
F8 - M1 - Earnings per Share
An entity s ____________ determin...,
An entity that issues only common...,
__________ assumes no potentially...
24
cards
F8 - M2 - Statement of Cash Flows
Statement of cash consist of what...,
Which statement of cash flow sect...,
Which statement of cash flow sect...
16
cards
F8 - M3 - Not-for-Profit Financial Reporting: Part 1
Not for profit entities frequentl...,
Non for profit entites include 4,
All non for profit entity s use _...
18
cards
F8 - M4 - Not-for-Profit Financial Reporting: Part 2
In the statement of cash flows so...,
For non for profit there are thre...,
For non for profit operating can ...
5
cards
F8 - M5 - Not-for-Profit Revenue Recognition
An __________ is one in which the...,
Revenues from not for profit exch...,
Revenues from exchange transactio...
29
cards
F8 - M6 - Not-for-Profit Transfers of Assets and Other Accounting Issues
An important issue in not for pro...,
Financially interrelated organiza...,
A not for profit is a ________ su...
13
cards
F9 - M1 - Governmental Accounting Overview
__________ enables service and mi...,
Standards for government accounti...,
_______ are separate independent ...
3
cards
F9 - M2 - Fund Structure and Fund Accounting
The three major categories of fun...,
What is the mnemonic for governme...,
What is the mnemonic for business...
11
cards
F9 - M3 - Transactions and Events: Part 1
The governmental graspp funds use...,
_________ accounting is used to c...,
______ accounting emphasizes the ...
33
cards
F9 - M4 - Transactions and Events: Part 2
_____________represent an encumbr...,
For purposes of internal accounti...,
When the order is filled the encu...
14
cards
F9 - M5 - Governmental Funds Financial Statements: Part 1
There is only ______ general fund...,
The ________ accounts for activit...,
__________ contain funds earmarke...
6
cards
F9 - M6 - Governmental Funds Financial Statements: Part 2
________ funds are created for ea...,
Only projects for governmental fu...,
Financing sources may be 5 items ...
5
cards
F10 - M1 - Proprietary Funds Financial Statements
__________ funds primarily serve ...,
The financial statements of an is...,
__________ are used to account fo...
5
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F10 - M2 - Fiduciary Funds Financial Statements
____________ usually account for ...,
For custodial funds the current a...,
__________represent investments h...
7
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F10 - M3 - Form and Content of the Comprehensive Annual Financial Report
Funds have financial statements p...,
The government wide financial sta...,
The sequence of financial reporti...
9
cards
F10- M4 - Government-wide Financial Statements
Government wide financial stateme...,
Government wide financial stateme...,
Gwfs s net position consists of t...
10
cards
F10 - M5 - Fund Financial Statements
Fund financial statements require...,
The ________ is always major and ...,
For proprietary funds cash flow s...
11
cards
F10 - M6 - Deriving Government-wide Financial Statements and Reconciliation Requirements
A reconciliation between the modi...,
The adjustments from governmental...,
The adjustments from net change i...
3
cards
F10 - M7 - Notes and Supplemental Information
_____ must be an easily readable ...,
Notes to the financial statements...,
Required supplementary informatio...
4
cards
Random Cards for FAR
The balance sheet of a developmen...,
The balance sheet of a developmen...,
The cumulative effect type accoun...
3
cards
More about
Becker FAR
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