F3 Flashcards
Interest costs during construction
Added (capitalized) to cost of land improvements based on weighted average of accumulated expenditures.
Average of accumulated expenditures * interest rate = Avoidable Interest
Compare avoidable interest to actual interest. Capitalize the lower amount. The difference is expensed.
Dollar-Value LIFO: Determining ending inventory balance that ends up on the BS
Ending inventory in current-year dollars / Price index = Ending inventory in base-year dollars
Ending inventory in base-year dollars - Beginning inventory in base-year dollars = Change in inventory in base-year dollars
Change in inventory in base-year dollars x Price index = LIFO layer for the year
Beginning inventory in base-year dollars + LIFO layer for the year = Ending inventory balance
Dollar-Value LIFO Example
Calculation Impairment loss of an Asset
Franchisee Accounting | Initial & Continuing Franchise Fees
Trade Recievables: Notes Recievables
Inventory: Goods in transit
Freight-out is selling expense not COGS
Inventory: Valuation
Inventory: Periodic vs. Perpetual
Inventory: Primary Inventory Cost Flow Assumptions
PP&E: Cost Basis Intro Part 1
PP&E: Cost Basis Intro Part 2
PP&E: Cost Basis - Capitalize vs Expense
PP&E: Depreciation, Disposal, and Impairment
PP&E: Depreciation, Disposal, and Impairment - DEPRECIATION METHODS
PP&E: Depreciation, Disposal, and Impairment - DISPOSALS AND DEPLETION
