Chap003
120 Pages

Chap003

Course Number: ACCT 5140, Spring 2011

College/University: UCLA

Word Count: 18973

Rating:

Document Preview

Chapter 03 - Consolidations - Subsequent to the Date of Acquisition Chapter 03 Consolidations - Subsequent to the Date of Acquisition Multiple Choice Questions 1. Which one of the following accounts would not appear in the consolidated financial statements at the end of the first fiscal period of the combination? A. Goodwill. B. Equipment. C. Investment in Subsidiary. D. Common Stock. E. Additional Paid-In...

Unformatted Document Excerpt
Coursehero >> California >> UCLA >> ACCT 5140

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Chapter 03 - Consolidations - Subsequent to the Date of Acquisition Chapter 03 Consolidations - Subsequent to the Date of Acquisition Multiple Choice Questions 1. Which one of the following accounts would not appear in the consolidated financial statements at the end of the first fiscal period of the combination? A. Goodwill. B. Equipment. C. Investment in Subsidiary. D. Common Stock. E. Additional Paid-In Capital. 2. Which of the following internal record-keeping methods can a parent choose to account for a subsidiary acquired in a business combination? A. Initial value or book value. B. Initial value, lower-of-cost-or-market-value, or equity. C. Initial value, equity, or partial equity. D. Initial value, equity, or book value. E. Initial value, lower-of-cost-or-market-value, or partial equity. 3. Which one of the following varies between the equity, initial value, and partial equity methods of accounting for an investment? A. The amount of consolidated net income. B. Total assets on the consolidated balance sheet. C. Total liabilities on the consolidated balance sheet. D. The balance in the investment account on the parent's books. E. The amount of consolidated cost of goods sold. 4. Under the partial equity method, the parent recognizes income when A. dividends are received from the investee. B. dividends are declared by the investee. C. the related expense has been incurred. D. the related contract is signed by the subsidiary. E. it is earned by the subsidiary. 3-1 Chapter 03 - Consolidations - Subsequent to the Date of Acquisition 5. Push-down accounting is concerned with the A. impact of the purchase on the subsidiary's financial statements. B. recognition of goodwill by the parent. C. correct consolidation of the financial statements. D. impact of the purchase on the separate financial statements of the parent.

Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

UCLA - ACCT - 5140
Chapter 04 - Consolidated Financial Statements and Outside OwnershipChapter 04 Consolidated Financial Statements and Outside OwnershipMultiple Choice Questions1. For business combinations involving less than 100 percent ownership, the acquirer recogniz
UCLA - ACCT - 5140
Chapter 05 - Consolidated Financial Statements - Intra-Entity Asset TransactionsChapter 05 Consolidated Financial Statements - Intra-Entity Asset TransactionsMultiple Choice Questions1. On November 8, 2011, Power Corp. sold land to Wood Co., its wholly
UCLA - ACCT - 5140
Chapter 06 - Variable Interest Entities, Intra-Entity Debt, Consolidated Cash FloChapter 06 Variable Interest Entities, Intra-Entity Debt, Consolidated Cash FloMultiple Choice Questions1. On January 1, 2011, Riley Corp. acquired some of the outstanding
UCLA - ACCT - 5140
Chapter 07 - Consolidated Financial Statements - Ownership Patterns and IncomeChapter 07 Consolidated Financial Statements - Ownership Patterns and IncomeMultiple Choice QuestionsBuckette Co. owned 60% of Shuvelle Corp. and 40% of Tayle Corp., and Shuv
UCLA - ACCT - 5140
Chapter 08 - Segment and Interim ReportingChapter 08 Segment and Interim ReportingMultiple Choice Questions1. Generally accepted accounting principles require a U.S. corporation to disclose the following disaggregated information for each operating seg
UCLA - ACCT - 5140
Chapter 09 - Foreign Currency Transactions and Hedging Foreign Exchange RiskChapter 09 Foreign Currency Transactions and Hedging Foreign Exchange RiskMultiple Choice Questions1. Pigskin Co., a U.S. corporation, sold inventory on credit to a British com
UCLA - ACCT - 5140
Chapter 10 - Translation of Foreign Currency Financial StatementsChapter 10 Translation of Foreign Currency Financial StatementsMultiple Choice Questions1. In accounting, the term translation refers to A. the calculation of gains or losses from hedging
UCLA - ACCT - 5140
Chapter 11 - Worldwide Accounting Diversity and International StandardsChapter 11 Worldwide Accounting Diversity and International StandardsMultiple Choice Questions1. In the United States, foreign companies filing annual reports with the SEC that are
UCLA - ACCT - 5140
Chapter 12 - Financial Reporting and the Securities and Exchange CommissionChapter 12 Financial Reporting and the Securities and Exchange CommissionMultiple Choice Questions1. Which one of the following is not a division of the SEC? A. The Division of
UCLA - ACCT - 5140
Chapter 13 - Accounting for Legal Reorganizations and LiquidationsChapter 13 Accounting for Legal Reorganizations and LiquidationsMultiple Choice Questions1. A Chapter 7 bankruptcy is a(n) A. involuntary reorganization. B. bankruptcy forced by a compan
UCLA - ACCT - 5140
Chapter 14 - Partnerships: Formation and OperationsChapter 14 Partnerships: Formation and OperationsMultiple Choice Questions1. Cherryhill and Hace had been partners for several years, and they decided to admit Quincy to the partnership. The accountant
UCLA - ACCT - 5140
Chapter 15 - Partnerships: Termination and LiquidationChapter 15 Partnerships: Termination and LiquidationMultiple Choice Questions1. When a partnership is insolvent and a partner has a deficit capital balance, that partner is legally required to: A. d
UCLA - ACCT - 5140
Chapter 16 - Accounting for State and Local Governments, (Part 1)Chapter 16 Accounting for State and Local Governments, (Part 1)Multiple Choice Questions1. Which standard issued by the Governmental Accounting Standards Board in 1999 requires two distin
UCLA - ACCT - 5140
Chapter 17 - Accounting for State and Local Governments, (Part 2)Chapter 17 Accounting for State and Local Governments, (Part 2)Multiple Choice Questions1. For government-wide financial statements, what account is credited when a piece of equipment is
UCLA - ACCT - 5140
Chapter 18 - Accounting and Reporting for Private Not-for-Profit OrganizationsChapter 18 Accounting and Reporting for Private Not-for-Profit OrganizationsMultiple Choice Questions1. Reciprocal transfers where both parties give and receive something of
UCLA - ACCT - 5140
Chapter 19 - Accounting for Estates and TrustsChapter 19 Accounting for Estates and TrustsMultiple Choice Questions1. When a person dies without leaving a valid will, how is the distribution of his or her property determined? A. In accordance with fede
Waterloo - STV - 100
1.BenefitofHumanity Someissuesobvious Satisfyhumanneeds(heat,food) Overcomerestrictionsofnaturalworld(famine,food) Extendhumanfaculties(energy) 2.IndustrialRevolution Whystudyit: A)Hugeimpactonourmodernconditions. B)Inthepast,societieshadtopassthroughindu
Waterloo - STV - 100
EnergyCharacteristicsEnergyverytopical Supplyshortages(political/economicissues) Environment(globalwarming) 2004 (petajoules) TotalEnergydemand 7,690 Totalindustrial 2,360 Totaltransportation 2350 Agriculture 210 Residential 1,310 Publicadministration 13
Waterloo - STV - 100
NuclearPower1.BackgroundtoNuclearPowerInlastsixyearshasbeenaremarkablerenewedinterestinnuclearpower. Whythishashappenedisawarenessofglobalwarming. Lecturelookatimpactsofrenewedinterest. Worldhaslotsofenergy InLecture3:BigThreeHydrocarbons: coalfoundinma
Waterloo - STV - 100
UrbanTransportationHighwayTransportUrban/suburban Intercity Passenger Freight Unsustainabilityofroadtransportationinurbanenvironments1.BackgroundLuxurytoWW1(1920s) BeneficialtoWW2 EssentialafterWar(1950today) Affectdesignofcities (a)Growthofsuburbia (
Waterloo - STV - 100
6.FreightTransportIssuesinfreighttransportquitedifferenttothoseofpassengerauto. Specificallymostfreightiscarriedby"commoncarriers"thatwillhandanybusinessgivento them. Economicsandspeedaredistinctiveelements.1.MethodofFreighttransportFivemodes: road(tru
Waterloo - STV - 100
7.RiskandEngineeringFailure1.Risk Probabilityofdanger,injury,loss Money,health/life,relationships,materialgoods(fire,theft,etc) Inthislecturemakethedifferencebetweensociety'sacceptabilityofactualrisk(that canbemeasured)andpereivedrisk(thatisbelieved) Per
Waterloo - STV - 100
Lecture8:Alternative/AppropriateTechnologiesONE:Definitions a)Alternative(intermediate)Technology Technologiesthatincludedbothindigenousexperienceandmodernconcepts.Use technologyinnovelways. b)AppropriateTechnology Useexistingtechnologiesthataresuitablef
Waterloo - STV - 100
Lecture9:BrownfieldsBrownfieldDefinition: "Abandoned,idled,orunderusedindustrialorcommercialfacilitieswhere expansionorredevelopmentiscomplicatedbyrealorperceivedenvironmental contamination" Brownfields 1.Whatarethey? 2.Whatproblemsdotheycontain 3.howare
Waterloo - STV - 100
Lecture10:IdeaofProgressThroughlectureanddiscussiongroupswehaveexaminedsocietalimpactsof technologiesonsociety; Especiallyenergyandtransportation. Technologyhasmadeourlivesmateriallybetter: Livelonger Betterunderstandingoftheworld Morephysicallycomfortab
Waterloo - BUS - 111W
BU 111Introduction to Management and Business OrganizationWe have wonderfully bright and talented students. They have almost unlimited potential.they deserve nothing less than an excellent education, an academic experience that challenges them to excel
Waterloo - BUS - 121W
Business Notes Critical Success Factors -Achieving financial performance -Meeting customer needs -Building quality products and services -Encouraging innovation and creativity -Gaining employee commitment Accounting -Comprehensive information system for c
Waterloo - AFM - 102
MIDTERM EXAM AFM 102: Introduction to Managerial Accounting Sections 001, 002, 003 and 004 Thursday February 25, 2010: 4:30 6:00 PM Instructors: Robert Ducharme and Thomas Vance STUDENT NAME: _ STUDENT ID: _ UWDIR/Quest Id: _ LECTURE: (select one) _ 7:00-
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 February 2, Master Click to edit 2011 subtitle styleService Department Cost Allocation5/11/11 Anthony Atkinson11Exam Location InstructionsTo find your exam seating assignments, go to: http:/accounting.uw
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 February 7, Master Click to edit 2011 subtitle styleActivity Based Costing5/11/11 Anthony Atkinson11Key Topics in Todays ClassTwo step allocation method revisitedToday organizing cost pools by activity
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 February 9, Master Click to edit 2011 subtitle styleTime Driven Activity Based Costing5/11/11 Anthony Atkinson11Key Topics in Todays ClassTime driven activity based costing5/11/11 Anthony Atkinson22S
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102February 16, 2011 Introduction to Relevant Costs1Key Concepts in Todays Class Relevant Cost Sunk Costs The make or buy decision2Relevant Cost A relevant cost is a cost or revenue that changes as a result
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 February 28, 2011 Click to edit Master subtitle styleRelevant Cost Analysis5/11/11 Anthony Atkinson11Key Concepts in Todays ClassRelevant cost analysisThe replacement decision5/11/11 Anthony Atkinson
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 January 5, 2011 Click to edit Master subtitle styleCourse Introduction5/11/1111Key Topics in Todays Class Course text ACE Website Companion Websitehttp:/wps.prenhall.com/bp_atkinson_mgmta Quizzes Chapte
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 January 7, 2011 Click to edit Master subtitle styleMission, Vision, and Strategy5/11/11 Anthony Atkinson11Key Topics in Todays Class The vision statement The mission statement Combining the twoThe OAS
Waterloo - AFM - 102
What is Management Accounting?Janet L. Pierce, FCM A CM C Vice President, professional Programs society of M anagement Accountants of Ontario1University of Waterloo M anagement AccountingJanet Pierce CV curriculum vitae CV =creating valueDont just m
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 January 12, Master Click to edit 2011 subtitle styleThe Balanced Scorecard5/11/11 Anthony Atkinson11Course Resources Course text Course web sitesACEhttps:/uwangel.uwaterloo.ca/uwangel/home. aspTest S
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 January 14, Master Click to edit 2011 subtitle styleStrategy Maps5/11/11 Anthony Atkinson11Key Topic in Todays ClassThe strategy map5/11/11 Anthony Atkinson22What is a Strategy Map?Companies use a p
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 January 19, Master Click to edit 2011 subtitle styleCost Flows in Organizations5/11/11 Anthony Atkinson11Key Topics in Todays ClassCost flows in organizationsManufacturing Retail Service Financial accou
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 January 24, Master Click to edit 2011 subtitle styleIntroduction to Cost Behaviour5/11/11 Anthony Atkinson11Key Topics in Todays ClassCost behaviourVariable Cost Fixed Cost Mixed Cost Step Cost Direct C
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 January 26, Master Click to edit 2011 subtitle styleCost Volume Profit Analysis5/11/11 Anthony Atkinson11Key Topics in Todays ClassCost Volume Profit (CVP) AnalysisThe CVP equation The CVP graph Breakev
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 January 28, Master Click to edit 2011 subtitle styleJob Order Costing5/11/11 Anthony Atkinson11Key Topics in Todays ClassJob order costingAccumulating direct costs for each job Allocating indirect costs
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 January 31, Master Click to edit 2011 subtitle styleProcess Costing5/11/11 Anthony Atkinson11Important MessagesQuiz 1Friday February 4, 4:30PM 6:00PM Quiz location will be posted on ACE on Tuesday Febru
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 March 2, 2011 Click to edit Master subtitle stylePricing and Product Planning5/11/11 Anthony Atkinson11Key Concepts in Todays Class Opportunity costs Allocating productive capacity in the short run5/11
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 March 7, 2011 Click to edit Master subtitle styleSpecial Order Problem5/11/11 Anthony Atkinson115/11/11 Anthony Atkinson22Key Concepts in Todays ClassDetermining a price for a one time special order5
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 Marchlick2011 Master subtitle style C 9, to editLong Term Pricing and Relevant Cost Review5/11/11 Anthony Atkinson11Key Concepts in Todays Class Issues in choosing a long run price Relevant cost concept
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 Marchlick to edit Master subtitle style C 18, 2011Static and Flexible Budgets5/11/1111Going ForwardQuiz 1 Quiz 2 Online Total 82 62 100 23% 27% 20% 70.00% 18.86 16.74 20.00 55.60 79.43%C lass Average Wei
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 Marchlick to edit Master subtitle style C 14, 2011Introduction to Budgets5/11/1111Key Concepts in Todays Class The nature of planning and control The master budget5/11/1122The Importance of PlanningT
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 Marchlick to edit Master subtitle style C 16, 2011Cash Flow Budgets5/11/1111Quiz 2 InformationSummary of answers indicated some reasonable interpretation alternatives Summary of gradesQuiz 1 Historical 7
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 Marchlick to edit Master subtitle style C 21, 2011Variance Analysis5/11/1111Key Concepts in Todays ClassDirect materialsMaterial price variance Material quantity variance Labour wage rate variance Labour
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 Marchlick to edit Master subtitle style C 23, 2011Time Value of Money5/11/1111Key Concepts in Todays Class Time value of money Present value of single payments Future value of single payments Nominal ver
Waterloo - AFM - 102
Introduction to Management Accounting AFM 102 Marchlick to edit Master subtitle style C 30, 2011Capital Budgeting Net Present Value5/11/1111Key Concepts in Todays ClassCapital budgetingThe net present value concept5/11/1122Net Present ValueThe n
Waterloo - AFM - 102
Activity-Based Cost SystemsChapter 4Simple Cost Accounting Systems: Ericson Ice Cream Company Example Ericson had been the low-cost producer of chocolate and vanilla ice cream, with profit margins exceeding 20% of sales Several years ago Ericson expand
Waterloo - AFM - 102
ManagementAccounting InformationforActivity andProcessDecisionsChapter 5EvaluationofFinancialImplicationsManagers must evaluate the financial implications of decisions that require trade-offs between the costs and the benefits of different alternatives
Waterloo - AFM - 102
Cost Information for Pricing and Product PlanningChapter 6Role Of Product Costs In Pricing And Product Mix Decisions Understanding how to analyze product costs is important for making pricing decisions: Managers make decisions about establishing or ac
Waterloo - AFM - 102
Introduction to Capital Budgeting: Capital budgeting is a systematic approach to evaluating long-term investments and/or financing decisions Central to long-term decision making is the time value of money If the option exists to earn positive returns on
Waterloo - AFM - 102
Capital Budgeting Approach: Capital budgeting is a systematic approach to evaluating long-term investments and/or financing decisions 4 common approaches include: Payback period Accounting rate of return Net present value Internal rate of returnCapital
Waterloo - AFM - 102
Internal Rate of Return Two ways to compute IRR (internal rate of return): A) Use solver, and solve for the rate of return needed to get a net present value of 0. B) Use IRR formula on the undiscounted cash flows Project A: Rate of Return Year 0 Year 1 Ca
Waterloo - AFM - 102
The University of Waterloo School of Accounting and Finance AFM 102 Introduction to Management Accounting Quiz 1 Friday February 4, 2011 4:30PM 6:00 PM IMPORTANT INSTRUCTIONS PLEASE READ CAREFULLY1. This is a ninety (90) minute examination. You should st
Waterloo - AFM - 102
The University of Waterloo School of Accounting and Finance AFM 102 Introduction to Management Accounting Quiz 2 Friday March 11, 2011 4:30PM 6:00 PM IMPORTANT INSTRUCTIONS PLEASE READ CAREFULLY1. This is a ninety (90) minute quiz. You should stop writin
Waterloo - ACTSC - 231
ACTSC231 ASSIGNMENT 1. DUE ON MAY 25, BEFORE CLASSThe problems are not in the order of diculties. (1) Jane deposits 500 into an account at the beginning of each 4-year period for 40 years. The account credits interest at an annual eective interest rate o