NINJA 2 Flashcards
0
Q
NP balance
A
Balance
(Pmt)
+ interest
1
Q
Goodwill impairment
A
- y.e FV
CV incl GW - if greater: - Implied FV GW
CV GW
if CV > FV, recog loss
2
Q
Interest pmt
Interest exp
A
Pmt = par * SR
Exp = CV * mkt
3
Q
GP %
A
(Sales - COGS)/sales
4
Q
Deferred GP
A
X1 sales - GP% * y.e. Receivables
+ X2 sales - GP% * y.e. Receivables
5
Q
Troubled debt restructuring
A
g/l =
FV transferred
CV transferred
6
Q
Cash to accrual
A
Cash collected X2 (End X1 receivables) ------------------- Fees collected X2 \+ end X2 receivables ------------------- Subtotal (End X2 unearned fee rev)
7
Q
Completed contract g/l
A
Costs incurred
\+ est cost to complete
----------------
Total cost
(Contract price)
----------
Est p/l
Recog loss immediately
Recog profit when completed
8
Q
Account for dividend
- cost method
- equity method
A
- cost = revenue
- equity = return of invest
9
Q
Funded status of pension assets
A
Reported on Statement of Fin Pos (BS)
Don’t net A & L between plans
Over = PBO < FV Under = PBO > FV
10
Q
FV plan assets
A
Beginning
+ employer contrib
(Benefits pd)
+ actual return on plan assets
11
Q
Attribution pd for pension
A
Begins @ hire
Ends @ full eligibility date
12
Q
How to calculate expense for varying service periods
A
A = 3 B = 5 C = 5 D = 7
Yr 1 = 4/20
13
Q
Pension exp
A
Service cost \+ int cost \+ am prior service cost \+ exp return on plan assets \+/- unrecognized g/l
