General Flashcards
(48 cards)
What rate is used to discount PV in stock-based compensation?
Risk Free Interest Rate.
When does an entity measure the cost of employee services in exchange for an award of equity interest?
Date granted.
When you sell treasury stock for more than the acquisition price, the gain you recognize is…
You recognize ZERO GAIN.
Price Earnings Ratio
Market price per share / EPS
Which government/non profits use a statement of cash flows?
All non-profits/ no governmental.
What’s used by stockholders to acquire unissued or treasury stock?
Stock Warrants.
Dividends per share payout ratio…
Dividends per share / Earnings per share.
Price Earnings Ratio
Market price per share / EPS
A liquidation dividend is a dividend that….
Exceeds RETAINED EARNINGS.
How is equity affected by a stock dividend?
Stockholder’s equity remains the same, it’s just a shift between issued stock and retained earnings.
Stock rights are only recognized in common stock when…..
Exercised, yo.
When calculating APIC on exercised stock options, remember to take into account….
Compensation expense on the stock options.
Which govvy funds require budgets in the CAFR (annual statement)?
General & special revenue. Enterprise & fiduciary do not have legal budgets.
Which of these are derived or imposed govvy revenues: Fees, income tax.
Fees are imposed and income tax is derived. You do not derive fees from actions, you impose.
In a modified accrual govvy fund, the paying of a matured principle is accounted as an…
Expenditure.
Funds held by a county for a school is a _____ fund.
Agency.
Which government/non profits use a statement of cash flows?
All non-profits/ no governmental.
What is the focus of government wide statements, current financial or economic?
Economic.
What type of one sided exchange is a grant given from the state to a smaller government?
Voluntary.
When reporting foreign translation accounts, monetary items or items carried at market value are reported as _____________ and items reported at cost are reported as __________.
Current rate, historical rate.
Gains from currency changes in receivables and payables are _________. Gains from currency differences in assets are________.
Transaction, translation.
On restructuring of troubled debt, a gain is realized if the carrying amount of the debt…
Exceeds the future cash payments of the settlement.
What is the process of bifurcation?
Separating a derivative from a “host” security.
How is the pension asset (liability) calculated.
The excess of the amount funded (service cost + funding of prior service cost) over the pension expense (service cost + amortized service cost)
