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Hyejin Ahn
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Decks in this class (67)
P1SA1 Financial Statements
Long term debt should be included...,
When a corporation repurchases sh...,
A statement of financial position...
87
cards
P1SA2 Recognition, measurement, valuation and disclosure
Ending inventory when prices are ...,
Cost of goods sold when prices ar...,
Gross profit when prices are rising
77
cards
P1SB Planning, Budgeting, Forecasting
Which of the following is not a s...,
Strategy is a broad term that usu...,
Which one of the following is mos...
85
cards
P1SC Performance Management
The best basis upon which cost st...,
Net operating profit after taxes,
Controllable revenues would be in...
22
cards
P1SD Cost Management
In an income statement prepared a...,
Which of the following is a limit...,
A basic assumption of activity ba...
9
cards
P1SE Internal Controls
Which one of the following tasks ...,
Which of the following statements...,
Pursuant to the sarbanes oxley ac...
13
cards
P1SF Technology and Analytics
What is the primary advantage of ...,
Which of the following activities...,
Which of the following can be dis...
13
cards
1.1 Concepts of Financial Accounting
A primary objective of external f...,
The accounting measurement that i...,
Balance sheet is also called
6
cards
1.2 Statement of Financial Position (Balance Sheet)
What items are reported on the st...,
Basic accounting equation,
Basic accounting equation is base...
16
cards
1.3 Income Statement and Statement of Comprehensive Income
Income equation,
Limitations of income statement,
Which one of the following would ...
13
cards
1.4 Statement of Changes in Equity and Equity Transactions
Purpose of the statement of chang...,
Unless the shares are specificall...,
Mcglinchy company had 100 000 sha...
9
cards
1.5 Statement Of Cash Flows
All of the following should be cl...,
A company entered into the follow...,
In a statement of cash flows inte...
11
cards
1.6 Consolidation Accounting
In a business combination the val...
1
cards
2.1 Accounts Receivable
0
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2.2 Inventory—Fundamentals
A company s inventory is overstat...
1
cards
2.3 Inventory — Cost Flow Methods
The inventory method yielding the...,
The advantage of the last in firs...,
In a period of rising prices whic...
4
cards
2.4 Measurement of Inventory Subsequent to Initial Recognition
Under the weighted average cost m...,
The original cost of an inventory...,
In accounting for inventories gen...
3
cards
3.1 Investments in Equity Securities
Ownership interest in an entity,
Equity securities are characteriz...,
Presumed influence based on the o...
10
cards
3.2 Equity Method
Under the equity method dividends...,
Chatham co owned 25 of the voting...,
Significant influence is presumed...
6
cards
3.3 Investments in Debt Securities
Three categories of debt securities,
Debt securities that the reportin...,
Debt securities intended to be so...
13
cards
3.4 Property, Plant, and Equipment
The board of directors of a corpo...,
A corporation purchased manufactu...,
Under ifrs when an entity chooses...
10
cards
3.5 Intangible Assets
Which of the following types of a...,
Which of the following assets if ...,
Kale co purchased bonds at a disc...
9
cards
4.1 Contingencies and Warranties
Future events are likely to occur,
The chance of occurrence is more ...,
The chance of occurrence is slight
15
cards
4.2 Leases
If the lease term is less than 12...,
The amount recorded initially by ...,
On january 1 year 1 lessee entere...
9
cards
4.3 Income Taxes
Selected financial information fo...,
Income tax basis financial statem...,
A liability that represents the a...
7
cards
4.4 Accounting for Bonds Payable
When the amount received from sal...,
On january 1 evangel company issu...,
Clare co issued us 6 million of 1...
6
cards
5.2 Recognition of Revenue over Time
A construction company recognizes...,
Ashke co recognizes construction ...
2
cards
7.4 Absorption And Variable Costing
How is the fixed portion of manuf...,
For external reporting purposes t...,
Under absorption costing total ma...
7
cards
8.3 Activity-Based Costing
Activity based costing abc is a r...,
The inaccurate averaging or sprea...,
Traditional costing system
6
cards
8.4 Life Cycle Costing
Describe the introduction phase o...
1
cards
9.1 Joint Product and By-Product Costing
________ costs are not traceable ...,
Direct materials direct labor and...,
Costs incurred beyond the split o...
9
cards
9.2 Overhead Allocation and Normal Costing
The two most appropriate factors ...,
In determining next year s overhe...,
__________ capacity is based on r...
14
cards
9.3 Allocating Service Department Costs
In allocating factory service dep...,
When allocating service departmen...,
Allocation of service department ...
7
cards
12.1 Correlation and Regression
A company has accumulated data fo...,
Regression analysis is also called,
The process of deriving the linea...
6
cards
12.4 Strategic Management
According to boston consulting gr...,
In the boston consulting group bc...,
A strong competitor in a high gro...
6
cards
12.3 Expected Value and Sensitivity Analysis
A widely used approach that manag...,
Difference between the expected p...,
In decision making under conditio...
8
cards
13.1 Roles of Budgets and the Budgeting Process
_____________ is imposed by upper...,
___________ is characterized by g...,
The excess of resources budgeted ...
39
cards
13.2 Budgeting and Standard Costs
Predetermined expectations about ...,
Standard costs that are set for p...,
Performance that is expected to b...
3
cards
13.3 The Master Budget
The master budget is also called,
The _________ budget encompasses ...,
In the _______ budget the emphasi...
26
cards
13.4 Budget Methodologies
_______________ budgeting extends...,
_________ budgeting prepares budg...,
_____________ budgeting bases bud...
17
cards
14.1 Sales Forecasts and Sales Budget
A large manufacturer s forecast o...,
When sales volume is seasonal in ...,
The budget that is usually the mo...
4
cards
14.2 Operating Budget Calculations - Production and Direct Materials
Which one of the following would ...,
Simpson inc is in the process of ...
2
cards
14.3 Operating Budget Calculations - Others
Which one of the following statem...,
Sales and administrative budgets ...,
A company is developing its annua...
4
cards
14.4 The Capital Budget and Projecting Cash Collections
Which one of the following is the...,
The cash receipts budget includes...
2
cards
14.5 Cash Disbursements and the Cash Budget
Which one of the following items ...,
The cash budget is used to plan a...,
The cash budget must be prepared ...
12
cards
14.6 Pro Forma Financial Statements
Calculate cogs with below a sales...,
Gross margin percentage,
The information contained in a co...
14
cards
15.1 Variance Analysis Overview
The purpose of identifying manufa...,
A difference between standard cos...
2
cards
15.2 Static And Flexible Budget Variance
A major disadvantage of a static ...,
When preparing a performance repo...,
A construction company has an ann...
7
cards
15.3 Direct Materials Variances
A favorable materials price varia...,
During the month of may the compa...,
A company began business on janua...
15
cards
15.4 Direct Labor Variances
A company had a total labor varia...,
An unfavorable direct labor effic...,
A
15
cards
15.5 Mix And Yield Variances
The efficiency variance for eithe...,
Equation for yield variance,
A firm manufactures a product by ...
4
cards
15.6 Overhead Variances
Variable overhead is applied on t...,
A childrens dress manufacturers v...,
Which one of the following is not...
17
cards
15.7 Comprehensive Example
Ap spfavorable unfavorable,
Ap,
Price variance equation
3
cards
15.8 Sales Variances
For the first week of the month a...,
At the beginning of the year a co...,
In analyzing company operations t...
6
cards
16.1 Responsibility Centers
Cost center manager is responsibl...,
Revenue center manager is respons...,
Revenue center manager is respons...
20
cards
16.2 Performance Measures -- Cost, Revenue, and Profit Centers
The university recently hired a n...,
The segment margin of the wire di...,
When using a contribution margin ...
5
cards
16.3 Performance Measures -- Investment Centers
Formula for return on investment roi,
Formula for residual income,
Which statement below best repres...
12
cards
16.4 The Balanced Socrecard
Tool for communicating the compan...,
Which one of the following statem...,
Which one of the following statem...
8
cards
16.5 Transfer Pricing
Transfer pricing methods,
Advantages of the full cost metho...,
The most fundamental responsibili...
13
cards
17.1 Corporate Governance and Regulations Relating to Internal Control
The foreign corrupt practices act...,
Who is responsible for the overal...,
Conclusion that the financial sta...
22
cards
17.2 Risk and Internal Control
Accounting control should provide...,
Which of the following factors ar...,
The policies and procedures helpi...
18
cards
18.1 Control Procedures
A company s accounts payable supe...,
Internal controls may be preventi...,
The procedure requiring preparati...
35
cards
18.2 Systems Controls and Information Security
Which one of the following repres...,
Data processed by a computer syst...,
An employee in the receiving depa...
12
cards
18.3 Security Measures and Business Continuity Planning
Which of the following is a compu...,
Which of the following is used fo...,
A company s management is concern...
13
cards
19.1 Accounting Information Systems
Which of the following is a prima...,
Define an accounting information,
Define enterprise performance man...
21
cards
19.2 Data Governance and the Data Life Cycle
All of the following are correct ...,
Which of the following best chara...,
Risk modeling actuarial modeling ...
10
cards
19.3 COSO Framework -- Internal Control for Data Governance
Which of the following considerat...,
An internal auditor is evaluating...,
Which of the following would not ...
10
cards
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