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Drew Krause
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Decks in this class (36)
F2 M1 Notes to Financial Statements
Which of the following should be ...,
Significant estimates should be d...,
The summary of significant accoun...
11
cards
F1 M1 Standards and Conceptual Framework
According to the fasb conceptual ...,
Financial information provided in...,
Sfac defines the 5 elements of pr...
17
cards
F1 M2 Income Statement and Balance Sheet
Under us gaap a material transact...,
Under us gaap a gain that is both...,
Where do purchase discounts go on...
28
cards
F1 M3-M4 Revenue Recognition
The franchisor should report reve...,
Jersey inc is a retailer of home ...,
What is the acronym for revenue r...
33
cards
F1 M5 Income Statement: Discontinued Operations
On dec 2 year 1 flint corps board...,
Once the decision has been made t...,
On oct 1 year 1 wand inc committe...
10
cards
F1 M6 Accounting Changes and Error Corrections
When the effect of a change in ac...,
The cash basis of financial repor...,
The cumulative effect of a change...
13
cards
F1 M7 Statement of Comprehensive Income
A partial listing of a companys a...,
According to the fasb conceptual ...,
Comprehensive income is equal to ...
8
cards
F1 M8 Adjusting Journal Entries
When cash is received before the ...,
When cash is paid before the expe...,
When cash is received after the r...
15
cards
F2 M2 Going Concern
Management is required to evaluat...,
A major difference between us gaa...,
Both ifrs and gaap require the ev...
17
cards
F2 M3 Subsequent Events
For a reasonably possible loss wh...,
Drexler corp has a june 30 fiscal...,
Ace co settled litigation on feb ...
9
cards
F2 M4 Fair Value Measurements
Which of the following is true re...,
Which level of inputs are the mos...,
Level 1 measurements are ____ in ...
16
cards
F2 M5 Segment Reporting
Ifrs or gaap requires the disclos...,
What are the 3 characteristics of...,
What 2 components are not operati...
11
cards
F2 M6 SEC Reporting Requirements
In general an enterprise preparin...,
For interim reporting purposes co...,
Under regulation s x an entitys a...
27
cards
F2 M7 Special Purpose Frameworks
What does ocboa stand for,
Ocboa financial statement present...,
The statement of _____ is the bal...
8
cards
F2 M8 Ratio Analysis
____ are measures of a firms shor...,
In liquidity ratios the higher th...,
What is the calculation for the a...
33
cards
F2 M9 Partnerships
Eagle and falk are partners with ...,
Assets contributed by a partnersh...,
Assets contributed by partners to...
13
cards
F3 M1 Cash and Cash Equivalents
The following pertains to grey co...,
Which of these would be included ...,
A cash equivalent matures within ...
5
cards
F3 M2 Trade Receivables
A method of estimating uncollecti...,
What do you add and subtract from...,
Consignment goods are considered ...
29
cards
F3 M3 Inventory
___ in inventory market value sho...,
Gold silver and other precious me...,
With agricultural products revenu...
40
cards
F3 M4 PP&E Cost Basis
2 rules on capitalized interest 1...,
Excavation costs are considered p...,
Any cost incurred to acquire and ...
13
cards
F3 M5 PP&E Depr and Disposal
What is the formula for sum of th...,
For calculating depreciation expe...,
What is the formula for units of ...
17
cards
F3 M6 Nonmonetary Transactions
What is commercial substance,
If a transaction has commercial s...,
Transactions that lack commercial...
16
cards
F3 M7 Intangibles
Under us gaap r d contracted out ...,
Legal fees and other costs associ...,
Research and development costs ar...
23
cards
F3 M8 Impairment
Under us gaap subsequent reversal...,
How does a company account for th...,
Is goodwill amortized
12
cards
F4 M1 Financial Instruments
If interest rates have increased ...,
Journal entry bought a 100 000 bo...,
What type of account is investmen...
35
cards
F4 M2 Equity Method
Equity method when a company owni...,
Under the equity method investees...,
Under the equity method dividends...
13
cards
F1 M3 Basic Consolidations
When a parent sub relationship ex...
1
cards
F1 M4 & M5 Acquisition Method
With acquisition accounting the n...,
In an acquisition method business...,
In an acquisition method business...
22
cards
F4 M6 Intercompany Transactions
Dividends paid by the sub are ___...,
What amount of gain should a sub ...,
How do you calculate an unrealize...
11
cards
F4 M7 Consolidated FS
When consolidating balance sheets...,
At the date of acquisition the co...,
Consolidated financial statements...
6
cards
F4 M8 Goodwill Including Impairment
Under ifrs when the carrying valu...,
What does cgu stand for,
Us gaap requires that goodwill be...
7
cards
F5 M1 Payables & Accrued Liabilities
When given the total sales includ...,
Do accounts payable involve perio...,
Long term debt that matures withi...
13
cards
F5 M2 Contingencies & Commitments
A liability that has recourse is ...,
At the date of sale if the warran...,
Warranty expense must be recogniz...
12
cards
F5 M3 Long-Term Liabilities
What is the normal present value ...,
When working with the present val...,
When working with annuities how m...
17
cards
F5 M4 M5 Bonds
What is the bond indenture,
The state rate nominal rate and c...,
The market interest rate is the r...
28
cards
F5 M6 Troubled Debt
0
cards
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FAR Part 1
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