Study Notes

Study Notes - 26 Tax-shelter vs tax exempt 27 Adjusted...

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Study Notes for Exam 1 (FMSC 341 Sec 0201) 1. Financial security 2. Personal finance topics 3. Economic phase 4. Interest rates 5. Inflation 6. Future direction of the economy 7. Present Value (lump sum calculation) 8. Future Value (lump sum calculation) 9. Smart Money Decisions at Work 10. Rule of 72 11. Career related money decision 12. Financial and legal aspect of employment 13. Effective job search 14. Employer’s legal responsibilities for employees 15. Financial goal setting 16. Definition of income (gross, discretionary, disposable) 17. Financial record keeping process 18. Budgeting process 19. Revolving savings fund 20. Surplus management 21. Financial values, goals, strategies 22. Financial statements 23. Balance sheet (elements, Net worth calculation) 24. Cash flow statement (elements, Surplus calculation) 25. Ratios (Liquidity, Asset-to-debt ratio, debt service-to-income ratio)
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Unformatted text preview: 26. Tax-shelter vs. tax exempt 27. Adjusted Gross Income vs. Taxable Income 28. Earned vs. Unearned income 29. Capital gains tax 30. Adjustments, Deductions (standard vs. itemized), Exemptions 31. Tax credits 32. Tax evasions vs. tax avoidance 33. Tax reduction strategies 34. Tax exempt vs. tax deferred investment 35. Monetary asset management 36. Depository institutions 37. FDIC 38. EFT 39. Liability for lost cards 40. Checking account charges, fees, penalties 41. Payment instruments for special needs 42. Truth in Savings Act 43. Joint accounts 44. Characteristics of CDs 45. ECOA 46. Credit Report 47. Credit approval process 48. Debt consolidation 49. FICO score 50. Fair Credit Reporting Act 51. Bankruptcy 52. APR 53. Negative information in credit report 54. Over-indebtedness...
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Study Notes - 26 Tax-shelter vs tax exempt 27 Adjusted...

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