Financial Accounting Final Study Guide Liabilities – Probable debts or obligations that result from past transactions Current Liabilities – Are due within one year of the balance sheet date Liquidity – The ability to pay current obligations Working capital – Current assets minus current liabilities Accrued Liabilities – Expenses that have been incurred but have not been paid at the end of the accounting period Deferred Revenues – Revenues that have been collected but not yet earned‚ they are
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Perspectives on Accounting Education Volume 6‚ 2009‚ 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu‚ California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu‚ California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project
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Financial Reporting Google is a publicly traded company which means that customer and stakeholders have access to the company’s financial information. The balance sheet and income statements are the two financial statements which gives a brief summary of a company’s overall financial condition. The balance sheet focuses and report figures of assets‚ liabilities and owner’s equity of the business. Assets are anything that a business has with a value such as furniture‚ liabilities are monies owe to
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| |(Period) |S.H. ShareHolder | |FV Future Value |S.E. ShareHolder | |IE Interest |Equity | |Expense |SYD Sum of the | |I.S. Income |Years’ Digits | |Statement |TA Total Assets | |FS Financial |TAT Total Assets | |Statements |Turnover | |LCM Lower Cost &|XA Uncollectable | |Market |Accounts | |M.S. Marketable |~A Contra-Asset | |Securities |(negative) | |N.I. Net Income |$
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1 1. The main purpose of financial accounting is to communicate useful financial information to decision-makers both inside and outside of the business organization. True False 2. The Canadian Business Corporations Act mandates that all incorporated companies in Canada follow IFRS. True False 3. Private companies in Canada may choose between IFRS or ASPE. True False 4. Canada has adapted its own pre-existing standards for public companies to IFRS‚ while the U.S has adopted
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Chapter 1: Uses of Accounting Information and the Financial Statements TRUE/FALSE 1. The intentional preparation of misleading financial statements is referred to as fraudulent financial reporting. ANS: T PTS: 1 OBJ: LO1 NAT: AACSB correlation: ethics LOC: Learning Type: Recall KEY: ethical reporting 2. Fraudulent financial reporting can result from the misapplication of accounting principles. ANS: T PTS: 1 OBJ: LO1 NAT: AACSB correlation: ethics LOC: Learning Type: Recall KEY:
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You are an Investment Analyst Strayer University ACC557 – Financial Accounting Professor Levi Beckwith March 16‚ 2014 1. Analyze each company’s history‚ product/services‚ major customers‚ major suppliers‚ and leadership and provide a synopsis of each company. The Coca-Cola (NYSE: KO ) vs. PepsiCo (NYSE: PEP ) war is one of the greatest rivalries in corporate history‚ just like Apple vs. Microsoft. Coca-Cola and Pepsi are the two most popular and widely recognized
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Financial Accounting 2 Quiz 15-03008FA Name: ____________________________________________ Course & Section: __________________ General Direction: Write your answer on a separate yellow paper. Pass the test paper and answer sheet after completing the exam. Part 1 – Theories – Multiple Choice. 1. Transaction whereby a debtor and creditor may negotiate the terms of a financial liability with the result that the liability is fully or partially extinguished by the debtor issuing equity instruments
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The report focus on the financial statement analysis of Tick-Tock during 2005 to 2007.And at the same time provides the recommendation whether to purchase Tick-Tock for $275‚000 or continue looking for another business. This financial statement has been divided into three segments: profitability‚ liquidity and financial stability .The first part is profitability which focuses on different aspect of return on investment & evaluating operating performance ratios. And the second segment concrete on
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Who are the primary victims of financial statement fraud? a. | Employees and middle management. | b. | Organizations that buy goods or services. | c. | Analysts and pundits. | d. | All Stockholders | ANS: D | Feedback | A | Incorrect. While they are negatively affected by fraud‚ they do not rely on financial statements to the same degree as stockholders. | B | Incorrect. This is the victim of vendor fraud. | C | Incorrect. They may be fooled by financial statement fraud
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