Chapter 4 Overview - Accounting Midterm#2 Review Chapter 4...

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Accounting Midterm #2 Review Chapter 4 Overview Adjusting Revenues and Expenses - Accounting Cycle - Unadjusted Trial balance - Analysis of Adjusting Entries - Papa John’s Illustration Preparing Financial Statement - Income statement - Statement of stockholder’s equity - Balance sheet - Supplemental Cash Flows Information - Net profit margin ratio Closing The books - End of the accounting cycle - Post closing trial balance Chapter 5 Overview Players in the Accounting communication Process - Regulators ( SEC, FASB, PCAOB, Stock Exchanges) - Managers ( CEO, CFO and accounting staff) - Boards of Directors ( Audit committee) - Auditors - Information Intermediaries: Analysts and Information services - Users: Institutional and Private investors, credits and other - Guiding Principles for communicating useful information The Disclosure Process - Press release - Annual reports - Quarterly reports - SEC reports- 10 K, 10Q, 8K A closer look at financial statements formats and Notes
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Unformatted text preview: - Classified balance sheet- Classified income statement - Statement of stockholders equity - Statement of cash flows- Notes to Financial Statements- Voluntary Disclosures ROE Analysis: A Framework for Evaluating company performance -Returns on equity -Roe profit driver analysis-Profit drivers and Business Strategy Chapter 6 Accounting for Sales Revenue-Credit cards sales to consumers -Sales discounts to businesses -Sales returns and allowance -Reporting net sales -Gross Profit percentage Measuring and Reporting receivables -Classifying receivables -Accounting for Bad Debts-Reporting accounts receivable and bad ebts -Estimate bad debts-Control over accounts receivable Reporting and Safeguarding cash -cash and cash equivalent -cash management -internal control of cash -reconciliation of cash accounts and the bank statements...
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