Chapter 15 Leases AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools‚ departments‚ and faculty may approach assessment and its documentation differently‚ one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor‚ we have labeled each question‚ exercise‚ and problem in Intermediate Accounting‚ 7e‚ with the following AACSB learning skills:
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Name Chapter 4--Profitability Analysis Description Instructions Modify Add Question Here Question 1 Multiple Choice 0 points Modify Remove Question One important difference between return on assets (ROA) and return on common shareholder’s equity (ROCE) is Answer ROA does not differentiate based on how a company finances its assets‚ ROCE does. ROA does not distinguish between the different types of income items‚ such as income from continuing operations‚ discontinued
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Visit Free Slides and Ebooks : http://downloadslide.blogspot.com CHAPTER 16 Dilutive Securities and Earnings Per Share ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Convertible debt and preference shares. Warrants and debt. Share options‚ restricted share. Earnings Per Share (EPS)—terminology. EPS—Determining potentially dilutive securities. EPS—Treasury share method. EPS—Weightedaverage computation. EPS—General objectives. EPS—Comprehensive calculations. EPS—Contingent shares. Convergence
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Chapter 2 Lab Intermediate Accounting I (a) The president of Gonzales‚ Inc. used his expense account to purchase a new Suburban solely for personal use. Miscellaneous Expense 29‚000 Cash 29‚000 This in inappropriate based on the economic entity assumption. Economic Entity Assumption states that the economic activity can be identified with a particular unit of accountability. In other words‚ a company
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which we earn it. | | | 2. | | Discuss the major principle that describes recording expenses.The matching principle states that we recognize expenses in the same period as the revenues they help to generate. | | LO1 | 3. | | Samantha is a first-year accounting student. She doesn’t think it matters that expenses are reported in the same period’s income statement with the related revenues (matching principle). She feels that “as long as revenues and expenses are recorded in any period‚
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Issues—Intangibles) Presented below is a list of items that could be included in the intangible assets section of the balance sheet. 1. Investment in a subsidiary company. …. LT Investment in Balance Sheet 2. Timberland. ……………………………………..… PPE in Balance Sheet 3. Cost of engineering activity required to advance the design of a product to the manufacturing stage. …………R& D Expense in Income Statement 4. Lease prepayment (6 months’ rent paid in advance). …………………………………………………. Prepaid Rent in Balance Sheet
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Intermediate Accounting Project Issue 1(FASB ASC 230-10-50) Some transactions are part cash and noncash; only the cash portion shall be reported in the statement of cash flows. Non-cash activities are reported in the footnotes of the cash flow statement or reported parenthetically MEMO: After researching the proper treatment of this transaction in relation to cash flows‚ I found the following information: • The cash flow statement includes only inflows and outflows of cash and cash equivalents;
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cost. c. private driveways and parking lots. d. assumption of any liens or mortgages on the property. 27. If a corporation purchases land and building and subsequently tears down the building and uses the property as a parking lot‚ the proper accounting treatment of the cost of the building would depend on a. the significance of the cost allocated to the building in relation to the
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Intermediate Accounting E2-1 a. True b. False – General-purpose financial reports also assists other people who don’t have the authority to demand financial information they need and so must rely on the information in financial reports. c. False – standards that are based on individual conceptual framework will result in different conclusions being drawn on similar issues‚ and thus would not be consistent and comparable. d. False – General purpose financial reports are also beneficial
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CA 1-4: (a) Differentiate between Financial Accounting and Managerial Accounting. While financial accounting is the process that culminates in the preparation of financial reports on the enterprise for use by both internal (as managers) and external parties (as investors‚ creditors‚ unions‚ and government agencies)‚ managerial accounting is the process of identifying‚ measuring‚ analyzing‚ and communicating financial information needed by management to plan‚ control‚ and evaluate a company’s operations
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