8/27 Cost Accounting Chapter 1 Flashcards Preview

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Flashcards in 8/27 Cost Accounting Chapter 1 Deck (29):
1

Transactions and Translation

chapters 11 and 12

2

We jump around on the chapters

true

3

Ch 17 and 18

governmental accounting

4

Chapter 1 homework is due thursday

you have to have read chapter 1 and have done the homework

5

homework is due on date listed

but he may or may not collect it. He reserves the right to collect it

6

Slides

will be posted online, he will post the authors and his when there are changes

7

Additional Info

these are his 500 pages of research or so that is additional to help us understand the material

8

Tests

there are three tests,
the second midterm is comprehensive, but the final is not. don't fall behind
show your work, otherwise you will not get full credit if you guess, unless you have work you will not get full credit if you get it right

9

Class period before the test

we will have a discussion from students questions

10

Not Required Material

It says on the syllabus which things we will not cover

11

Final

Friday on test week

12

Homework

Answers are posted

13

Acquisitions

Because of regulations these are going to increase

14

Departmental Quiz Objectives

1. Ascertain the appropriate consolidated balance sheet values at the date of acquisitions
2. Apply the equity method of accounting for investments.
3.
4. Understand the calc. and required disclosures of the results of foreign currency transactions
5. Determine appropriate balance sheet values that result from foreign currency translations
6. Understand the basic disclosure requirements under current gov financial standards

15

Quizzes

there are scheduled quizzes and unscheduled quizzes. be prepared

16

Class Assignments

There will be in class assignments

17

Participation

Is now ten points. email him questions and ask questions because this is only his view of if you participated. Every week you can follow where you sit with those participation points

18

Late Assignments

Homework is due within one hour of the end of class

19

Make up Quizzes and Exams

Notify him within 48 hours it is $5

20

Grading

these are updated weekly, you have two weeks to correct a grade with me, it is on a curve. he can't give everyone A's

21

End of Semester Evaluations

Talk to him about problems, he will evaluate the criticism

22

Tests

No cheat Sheets

23

Chapter 1

Notes

24

Reasons for Enterprise epansion

size often allows economies of scale
new earning potential
earnings stability through diversification
management rewards for a bigger company size
Prestige

25

Subsidiary

is a corp that is controlled by another corporation, P vs S are separate legal entities

26

Manipulation of Financial Reporting

the use of subsidiaries or other entities to borrow money without reporting the debt on their balance sheet
using special entities to manipulate profits
manipulation of accounting for mergers and acquisitions
Pooling of interest allowed for manipulation
The FASB did away with those

27

Two Types of expansion

Internal Expansion,

28

Internal Expansion

Investment Account = BV of net assets (Sub)

29

External Expansion

the parent buys the Sub and they receive stock in it