Review outline for ch 12 13 and 14

Review outline for ch 12 13 and 14 - • Concepts of...

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Chapter 12 Know 3 categories of investment securities (i.e. trading, held-to-maturity, available-for-sale (AFS)) Be familiar with recording and reporting investment securities (e.g. initial recording, amortization, interest revenue, adjusting entries if any). Know how to report these investment securities on financial statements, i.e. amortized cost, fair value, unrealized holding gain or loss etc. Accounting for the equity method Chapter 13 Concepts and examples of current liabilities Short-term notes (interest and non-interest bearing notes). Know how to accrue/record interest expense
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Unformatted text preview: • Concepts of contingency. Accounting for product warranty • Payroll tax liabilities Chapter 14 • The relationship between the stated interest rate and the market interest rate, and the effect on debt issuance. • Be familiar with the concept of book value (carrying value or outstanding value) of debt. Know the difference between the straight-line and effective interest methods and how to amortize debt premium or discount and to record interest expense under both methods. • Retirement of debt • Be familiar with convertible debt and debt with stock warrants...
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