Final_exam_review

Final_exam_review - Final Examination Review Conceptual...

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Unformatted text preview: Final Examination Review Conceptual Framework Objective of Financial Reporting Separate-Entity Assumption Unit-of-Measure Assumption Continuity (Going Concern) Assumption Periodicity Assumption Historical Cost Principle Revenue Recognition Principle Matching Principle Qualitative Characteristics of Useful Information The Accounting Cycle Transactions Journal Entries T-accounts Debits = Credits Trial Balance Adjusting Entries Deferred Revenues / Expenses Accrued Revenues / Expenses Financial Statements Balance Sheet Assets = Liabilities + Owners' Equity Cash Receivables Inventories FIFO, weighted average, specific ident. Lower of cost and net realizable value Property, plant and equipment Intangible assets Balance Sheet Liabilities Current Long-term Present value concepts Owners' Equity Common Shares, Preferred Shares Cash and Stock Dividends, Stock Splits Retained Earnings Income Statement Net Income = Revenue Expenses Revenue Recognition Point of sale, percentage of completion Expenses Cost of sales Bad debt expense Amortization of capital assets Interest and amortization of premium/discount Cash Flow Statement Operating Activities Direct Method Indirect Method Investing Activities Financing Activities Non-cash Investing and Financing Activities Ratios Price-Earnings Ratio Debt to Equity Ratio Total Asset Turnover Ratio Return on Assets Earnings per Share Net Profit Margin Quality of Income Ratio Capital Acquisition Ratio Return on Equity Gross Profit Percentage Receivables Turnover Ratio Average Collection Period Inventory Turnover Ratio Fixed Asset Turnover Current Ratio Trade Payables Turnover Ratio Average Age of Payables Financial Leverage Ratio Times Interest Earned Ratio Dividend Yield Ratio Quick Ratio Cash Ratio Cash Coverage Ratio ...
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  • Fall '08
  • KENNEDY
  • Generally Accepted Accounting Principles, Investing and Financing Activities, Examination Review, ratio Cash ratio, Turnover Ratio Average

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Final_exam_review - Final Examination Review Conceptual...

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