Review For Exam 2 Spring 11

Review For Exam 2 Spring 11 - • Know how to account for...

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Review For Exam 2 ACCT 405
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When, Where and What When: Tuesday Where: Usual Room What: Chapters 18-20 How long: 1 hour and 15 minutes What do you need: pencils and calculator Graphing calculators are NOT allowed on any exam Financial calculators are permitted
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Format of Exam 13 multiple choice questions (a mix of definition-based and word problem-based problems, weighted more to word problem-based) 3 written word problems - short to moderate length
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What to Focus on When Studying Know about revenue recognition guidelines mentioned in slides Know about installment sales method Know about cost recovery method
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What to Focus on When Studying Know how to do percentage of completion method know how to account for contract losses Know about differences between taxable and financial income and how to reconcile the two
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Unformatted text preview: • Know how to account for changes in tax rates What to Focus on When Studying • Question on International Insight textboxes • Know how to determine the components of income tax expense– current tax expense and deferred tax expense (benefit) • Know temporary and permanent differences • Know how to account for net operating losses What to Focus on When Studying • Know about deferred tax assets and liabilities • Know how to determine pension assets and liabilities • Know how to prepare a basic pension worksheet What to Focus on When Studying • Know how to amortize prior service costs • Know differences between defined contribution and defined benefit plans • Know how to compute pension expense...
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This note was uploaded on 06/14/2011 for the course ACCT 405 taught by Professor Caylor during the Spring '11 term at South Carolina.

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Review For Exam 2 Spring 11 - • Know how to account for...

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