This class was created by Brainscape user Lincolnstien Daily. Visit their profile to learn more about the creator.
- decks
- flashcards
- learners
Decks in this class (46)
Dividends
Dividends reduce both assets and ...,
Dividends are recorded as liabili...,
What is the je upon declaration
13
cards
Treasury Stock
Who owns t stock,
What are the two methods of acctg...,
How would a purchase of 10 t stoc...
5
cards
Basic Concepts
How do you convert cash payments ...,
What org is responsible for setti...,
What are the two main components ...
31
cards
Financial Statements
The fair value option may be elec...,
What is the formula for ni,
Administrative expenses are inclu...
15
cards
Inventory
What is the basic inventory formula,
What is the formula for inventory...,
What is the formula for determini...
22
cards
Pensions
Pension liability,
The funded status of a defined be...,
Plan investments should be report...
37
cards
Ratios - L&S, P&E
Current ratio,
Acid test,
Securities defensive interval ratio
21
cards
Accrual Acctg
Prepaids are assets or liabilities,
Unearned revenue is an asset or l...,
What is the formula to convert ni...
11
cards
Statement of Cash Flows
The payment of interest on a note...,
Cash received or paid is what typ...,
Cash flows from investing activit...
12
cards
Bank Recs
Bank balance,
Book balance
2
cards
Notes Recievable
What are the two types of nr,
Nr are recorded at fair value tf,
What columns are needed to set up...
7
cards
Investments
Debt and equity securities bought...,
Debt securities that the org has ...,
Afs securities are debt and equit...
11
cards
Stock Compensation
The date of exercise is used to m...,
Expiration of stock options cause...,
Total compensation is based on th...
4
cards
Income Taxes
Deferred income tax expense or be...,
Fas 109 acctg for income taxes is...,
How do permanent differences dist...
39
cards
Acctg Changes and Error Corrections
Retrospective changes are,
Restatements are,
Prospective changes are
8
cards
Business Combinations
A business combination is a trans...,
If a owns 40 of c veto rights and...,
What is the quickest way to deter...
26
cards
Consolidated F Statements
The objective of consolidated fin...,
When are does a firm control anot...,
Con stmts are required when one e...
31
cards
Combined F Statements
When reporting combined f stateme...,
Goodwill is reported when reporti...,
Statements are combined usually f...
4
cards
Financial Instruments
Fair value is usually the general...,
Financial instruments impose on o...,
Fis result in the exchange of cas...
51
cards
Acctg for Transfers
If a firm surrenders control over...,
If a firm surrenders components o...,
If a firm surrenders components o...
11
cards
Contingencies, Comittments, and Guarantees
If a contingency is probable and ...,
If a contingent liability is remo...,
If a contingent liability is prob...
15
cards
Earnings Per Share
What are the two basic measures o...,
Basic eps,
Common stock dividends effect eps tf
22
cards
Discontinued Ops and Unusual Items
Disposal of a component of a busi...,
Disposal of a major geographic ar...,
Eps is not calculated on do
9
cards
Foreign Currency Denominated Transactions
A foreign currency transaction is...,
A foreign currency translation is...,
The direct exchange rate measues ...
13
cards
Foreign Currency Hedges
Fx forward contracts establish a ...,
Fx option contracts establish a _...,
Fx derivatives are measured at hi...
18
cards
Conversion of Foreign F/S
Recording currency is,
Reporting currency is the currenc...,
Functional currecny is the curren...
27
cards
Interim Financial Reporting
When are interim fs issued,
Interim statements are are not au...,
Certain methods used for interim ...
23
cards
Operating Leases
Leasing allows a firm to use an a...,
Two types of leases are accounted...,
Leases must be non cancellable to...
17
cards
Capitial Leases
The 4 criteria needed to determin...,
Additional criteria must be met f...,
The lease term consists of two pa...
22
cards
Sales Type and Direct Financing Leases
Direct financing leases are a typ...,
If the leased asset bv fv the lea...,
In a dfl the lessor earns only __...
25
cards
Capital Lease Depreciation, BPO, and Residuals
Four important items to consider are,
For the portion of residual guara...,
Bpo is excluded from the minimum ...
22
cards
Distinguishing Liabilities from Equity
Manditorily reedeemable shares ar...,
An obligation to issue shares wor...,
An obligation to issue a fixed nu...
6
cards
Nonmonetary exchange
Exchanges are considered to have ...,
Non monetary assets to do have a ...,
Plant assets are __________ becau...
19
cards
Related Party Transactions
Disclosures are mandatory for rel...,
Ifrs requires disclosure for mgmt...
2
cards
R&D Costs
All r d costs are expensed tf,
Intangible assets purchased from ...,
The attempt to discover new knowl...
13
cards
Risks and Uncertainties
What are some sources of risk and...,
Management has to continually ass...,
Nature of operations risk include...
7
cards
Segment Reporting
Gaap requires ______ by major seg...,
An ______ _______ is a significan...,
All operating segments are report...
9
cards
Computer Software Costs
Once the software has reached ___...,
Technological feasibility is defi...,
Amortization of software costs is...
6
cards
Subsequent Events
What is a subsequent event,
Conditions that existed at the ba...,
Conditions that did not exist at ...
7
cards
NFP Accounting
What are the 4 types of npos,
Vhwos are characterized as those ...,
Onpos essentially benefit their o...
44
cards
NFP - HCOs
Hospitals modify the format of th...,
Patient service revenues of a gov...,
Patient service revenues of a gov...
9
cards
NFP Colleges and Universities
Nfp universities must follow fasb...,
Tuition revenues are initially re...,
Scholarship allowances such as pe...
12
cards
Government Accounting
Concept statements form gasb are ...,
What are the 5 gasb concept state...,
Accountability and ______ _____ a...
80
cards
Other Government Accounting Items
What are the four types of interf...,
Quasi external transactions are _...,
Transfers to and from involve whi...
25
cards
FAR Mnemonics
Ingredients of relevance pcm,
Ingredients of faithful represent...,
Enhancing qualitative characteris...
16
cards
Complicated Journal Entries
In a capital lease the asset is t...,
What is the difference between a ...,
How do you compute the gain on a ...
57
cards
More about
FAR CPA Custom
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Lincolnstien Daily's FAR CPA Custom flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
[Custom] Wheelock's Latin
- 43 decks
- 1705 flashcards
- 13 learners
Decks:
Case Definitions, Personal Endings Chapter 1, Vocabulary Chapters 1 2a Latin To Englis, And more!
