Cumulative_Final_Exam_notesreview_sheet - ACCTG 211...

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ACCTG 211 Cumulative Portion of the Final Exam notes/review sheet - 12 out of the 40 questions on the final exam will be devoted to this cumulative phase and will be worth 36% of the total final exam points - Objective: test students ability to: o Read a balance sheet o Analyze transactions during a period of operations o Prepare selected portions of the resulting multi-step income statement, balance sheet and statement of cash flows Note: except for those portions of the exam dealing with “manufacturing” issues, those students who diligently & successfully complete the Case Study for this course will be well prepared for this portion of the Final Exam. - Transactions will focus on: o Adjustments Deferred Revenues Deferred Expenses Accrued Revenues Accrued Expenses o Management of Long-Term Assets (LTA) Depreciation using: Straight-Line & Double-Declining Balance methods Disposal of LTA and determining gain or loss on the disposal o Inventory valuation using: FIFO, LIFO, Weighted Average Methods
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Cumulative_Final_Exam_notesreview_sheet - ACCTG 211...

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