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F1 - F10 Flashcards

1
Q

What form contains financial disclosures, including summary financial data, managment’s discussion and analysys (MD&A), and audited financial statements?

A

Form 10-K

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2
Q

How often must form 10-K be filed by U.S. registered companies (issuers)?

A

Annually

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3
Q

What are the Form 10-K filing deadlines for:
1. Large accelerated filers
2. Accelerated filers
3. All other registrants

A
  1. 60 days
  2. 75 days
  3. 90 days
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4
Q

How does the SEC define an
1. a large accelerated filer
2. an accelerated filer
3. all other filers

A
  1. its market value of common equity of $700 million or more
  2. it’s market value of common equity is $75 million or more, but less than $700 million
  3. all other filers have revenues of less than $75 million
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5
Q

What form contains unaudited financial statements prepared using U.S. GAAp, interim period MD&A, and certain disclosures?

A

Form 10-Q

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6
Q

How often must Form 10-Q be filed by U.S. registered companies (issuers)?

A

Quarterly

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7
Q

What are the filling deadlines for Form 10-Q for:
1. Large accelerated filers
2. Accelerated filers
3. All other registrants

A
  1. 40 days
  2. 40 days
  3. 45 days
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8
Q

What form contains the annual report of a company’s employee benefit plan(s)?

A

Form 11-K

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9
Q
  1. What form must be filed annually by foreign private issuers, this form includes a summary of financial data, management’s discussion and analysis (MD&A), and audited financial statements?
  2. What form is must be filed annually by Canandian companies registered with the SEC, this form includes a summary of financial data, management’s discussion and analysis (MD&A), and audited financial statements?
A
  1. 20-F
  2. 40-F
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10
Q

What form is filed semiannually by foreign privates issuers, this form is similar to Form 10-Q and contains unaudted financial statements, interim period MD&A, and certain disclosures?

A

Form 6-K

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11
Q

What form is filed to report major coporate events such as corporate asset acquisitions or disposals, changes in securities and trading markets, changes to accountatnts or financial statements, and changes in corporate governance or management?

A

Form 8-K

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12
Q

What 3 forms are are required to be filed by directors, officers, or benegicial owners of more than 10% of equity securires of a registered company?

A

Forms 3, 4, & 5

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13
Q

What regulation sets forth the form and content of and requirements for interim and annual financial statements to be filed with the SEC?

A

Regulation S-X

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14
Q

Current Ratio

A
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15
Q

Quick Ratio

A
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16
Q

Accounts Receivable Turnover

A
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17
Q

Days Sales in Accounts Receivable

A
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18
Q

Inventory Turnover

A
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19
Q

Days in Inventory

A
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20
Q

Accounts Payable Turnover

A
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21
Q

Days of Payables Outstanding

A
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22
Q

Asset Turnover

A
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23
Q

Profit Margin

A

Net Income is Net Income After Taxes

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24
Q

Return on Assets (ROA)

A
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25
Q

Return on Equity

A
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26
Q

Return on Sales

A
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27
Q

Gross (Profit) Margin

A
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28
Q

Operating Cash Flow Ratio

A
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29
Q

Debt-to-Equity Ratio

A
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30
Q

Total Debt Ratio

A
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31
Q

Equity Multiplier

A
32
Q

Times Interest Earned

A
33
Q

Earnings per Share

A
34
Q

Price earnings ratio

A
35
Q

Dividend Payout

A
36
Q

Working Capital

A

Working Capital = Current Assets - Current Liabilities

37
Q

Working Capital Turnover

A

Working Capital = Current Assets-Current Liabilities

38
Q

A Change in Accounting Principle is handled?
1. Prospectively
2. Retrospectively
3. Restated

A

Retrospectively

39
Q

A Change in Accounting Estimate is handled?
1. Prospectively
2. Retrospectively
3. Restated

A

Prospectively

40
Q

If a Change in Principle that is also a Change in Estimate then the change is considered what? and how should it be handled?
1. Change in Principle, retrospectively
2. Change in Estimate, prospectively
3. Change in Principle, prospectively
4. Change in Estiame, retropectibely

A

A change in estimate, prospectively

41
Q

Are corrections in Accounting Errors considered accounting changes? Y/N

A

No

42
Q

How should Changes in Entity be presented?

A

Changes in Entity cause any statements being presented must be restated retrospectively.

43
Q

Special purpose frameworks are also know as?

A

other comprehensive bases of accounting (OCBOA)

44
Q

What are Special purpose frameworks, also know as other comprehensive bases of accounting (OCBOA)?

A

Special purpose frameworks are non-GAAP presentations that have widespread understanding and support.

45
Q

OCBOA include:

A
  1. The cash basis of accounting
  2. the tax basis of accounting
  3. a definite set of criteria have substatnial support that is applied to all material financial statements
  4. a regulatory basis of accounting
46
Q

How are the following debt securities reported?
1. Trading Securities
2. Available-for-Sale Debt Securities
3. Held-to-Maturity Securities

A
  1. Trading securities are reported at fair value and unrealized gains and losses are recognized on the income statement.
  2. Available-for-Sale Debt Securities are reported at fair value and unrealized gains and losses are reported as a part of OCI on the balance sheet.
  3. Held-to-Maturity debt securities are held on the balance sheet at their amortization cost. Unrealized gains and losses are not recoginzid.
47
Q

What is the document that descirbes the contract between the issuer (borrower) and the bond holders (lenders)?

A

Bond Indenture

48
Q

(?) is the total dollar amount of the bond and the basis on which the periodic interest is paid. Bonds are issued at (?) when the stated rate of interest equals the market rate of interest.

A

Face (Par) Value

49
Q

The (?), also known as the nominal interest rate or the coupon rate, is the interest to be paid to the investors in cash. This rate is specified in the bond contract?

A

Stated (Nominal or Coupon) Interest Rate

50
Q

The (?) is the rate of interest actually earned by the bondholder and is rate of return for comparable contracts on the date the bonds are issued.

A

Market (Effective) Interest Rate

51
Q

If the market rate is higher than the stated rate, bonds will be issued at a (?), in which case the bonds sell for less than the face amound to make up for the lower return being provided.

A

Discount

52
Q

If the market rate is lower than the stated rate, the bonds will be issued at a (?) because the investor will pay more than the face value due to the higher return offered.

A

Premium

53
Q

(?) are unsecured bonds.

A

Debentures

54
Q

(?) are bonds that are secured by real property.

A

Mortgage Bonds

55
Q

(?) are secured bonds.

A

Collateral Trust Bonds

56
Q

(?) are convertible into common stock of the debtor (generally) at the option of the bondholder. They can be sold with Nondetachable or Detachable Warrents.

A

Convertible Bonds

57
Q

(?) is a warrent that cannot be separeted from the bond it’s attached to. An investor who owns bonds with (?) cannont sell the warrants without selling the bonds, and vice versa.

A

Nondetachable Warrents

58
Q

A (?) is a warrent that can be sold separately from the bond it was initally attached to. An investor who owns bonds with attached warrants can sell those warrants separately while retaining the actual bonds.

A

Detachable Warrents

59
Q

(?) are bonds that not only have a stated rate of interest but participate in income if certain earnings levels are obtained.

A

Participating Bonds

60
Q

(?) are bonds that have a single fixed maturity date. The entire principal is paid at the end of the term/period.

A

Term Bonds

61
Q

(?) are prenumbered bonds that the issuer may ball and redeem a portion by serial number (often redeemed pro rata annually/in a series of annual installments.)

A

Serial Bonds

62
Q

(?) are bonds that only pay interest if certain income objectives are met.

A

Income Bonds

63
Q

(?) (also known as “deep discount bonds”) are bonds sold with no stated interest but rather at a discount and redeemed at the face value without periodic interest payments.

A

Zero Coupon Bonds

64
Q

(?) (also known as “asset-linked bonds”) are bonds that are redeemable either in cash or a stated volume of a commodity whichever is greater.

A

Commodity-Backed Bonds

65
Q

Comprehensive Income Includes what two components:

A

Net Income + Other Comprehensive Income

66
Q

(?) is the change in equity (net assets) of a business enterprise during a period of from transactions and other events and circumstances from nonowner sources.

A

Comprehensive Income

67
Q

Other Comprehensive Income includes what four components:

A
  1. Pension Adjustments
  2. Unrealized Gains and Losses (Available-for-Sale Debt Securities and Hedges)
  3. Foreign Currency Items
  4. Instrument-Specific Credit Risk
68
Q

The general rule is that changes in accounting principle should be recognized by adjusting the (1) in the (2) period presented for the cumulative effect of the change, and if prior period (comparative) financial statements are presented, they should be (3).

Reporting Changes in an Accounting Period

A
  1. beginning retained earnings
  2. earliest
  3. restated (retrospective application)
69
Q

Where is Discontinued Operations reported on the income statement?

A

It is reported separately from continuing operations and it’s reported net of tax.

70
Q

All deferred tax liabilities are classified as (?) liabilities on the balance sheet.
1. current
2. non-current

A
  1. non-current
71
Q

If an Exchange Lacks Commercial Substance a realized gain (is or is not) recognized unless boot/cash is received.

A

not

72
Q

Retained earnings may be classified as either (1) or (2).

A
  1. Appropriated
  2. Unappropriated
73
Q

The purpose of the statement of cash flows is to provide information about the sources of cash and cash equivalents including: (3)

A

Operating Cash Flows
Investing Cash Flows
Financing Cash Flows

74
Q

Cash receipts and disbaursements from transactions reported on the income statement and current assets and current liabilities are considered:
1. Operating Cash Flows
2. Investing Cash Flows
3. Financing Cash Flows

A

Operating Cash Flows

75
Q

Cash receipts and disbursements from non-current assets is considered:
1. Operating Cash Flows
2. Investing Cash Flows
3. Financing Cash Flows

A

Investing Cash Flows

76
Q

Cash receipts and disbursements from debt (including non-current liabilities) and equity is considered:

A

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