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MGST 217 > Review for Midterm > Flashcards

Review for Midterm Flashcards

1
Q

What does sumproduct use?

A

Arrays, choose a single column at a time

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2
Q

How to do questions that are like Add if >4

A

SUMIF Function

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3
Q

Two ways to do roots

A

^(1/2)

sqrt

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4
Q

What do countif and sumif add to regular functions?

A

Criteria

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5
Q

If you want to fill a series

A

Drag outside the selection!

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6
Q

Formula vs Function

A

Formula is +-/*
Function SUM PRODUCT

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7
Q

Cash Helper Formula

A

(total liabilities & Equities)-(total non current assets+ sum(current assets-cash))

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8
Q

Credit Card Formula WHAT TO REMEMBER!!!

A

Credit Card charges Revenuecustomers using credit card

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9
Q

Gst Paid

A

Sum(GST Eligible expenses)*GST

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10
Q

Gst payable

A

Collected GST-Paid GST

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11
Q

GST collected

A

Revenue*GST

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12
Q

REF

A

reference is invalid

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13
Q

NULL

A

WEIRD SPACE

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14
Q

N/A

A

No reference available

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15
Q

VALUE

A

wrong argument

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16
Q

####

A

Width is too small/wrong date or time

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17
Q

DIV/0

A

Division by zero or blank cell

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18
Q

NAME?

A

Formula not recognized

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19
Q

NUM

A

Non numeric data

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20
Q

If given data where a % is used for business questions!! BE CAREFUL BETCH!!!!!!!!!! MULTIPLICATION!!!!!!!!!!!!

A

PLEASE BE CAREFUL!!!!!!!!!!1 YOU MUST MULTIPLY IT EVERYWHERE!!!!!!!!!!!111

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21
Q

Prod cost formula
Fixed Cost formula

A

cost* quantity
cost*occurences (monthly or annual)

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22
Q

Accumulated CCA

How to get the actual non current assets value?

A

Both the CCA from Year One and Year two

subtract accumulated cca from non current assets!!!!!

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23
Q

Is retained earnings accumulated??

A

Yes! Add net income previous year+this year

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24
Q

For interest questions:
IF NEGATIVE?
Where do you get this value?

A

Put a MINUS sign to make negative positive

LOAN WORKSHEET USUALLY look at THE INTEREST PAYMENT COLUMN

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25
Q

RCGONeTN

A

Revenue-Cogs= Gross profit
Gross profit- operating expenses (fixed costs)= Net income before taxes [EBITDA]

EBITDA- sum(interest depreciation ammortization)= ebt

Net income before taxes-Tax= Net Income

26
Q

EBITDA formula

A

Gross Profit-Operating Expenses

27
Q

EBT Formula

A

EBITDA-(intersest+depreciaiton+ammortization)

28
Q

Percent of Revenue

A

cell w value your determining/Revenue

29
Q

how to use percentage of revenue

A

Example:
COGS Y1Percent of revenue
CREDIT CARD CHARGESPercent of revenue

30
Q

Year to Year growth

A

Current/Old-1

NO BRACKETS

31
Q

What is Net Sales?

A

Revenue

32
Q

Accounting Formula

A

Assets=Liabilities+Equities

33
Q

what is Implied volume
-calculated sales based on this?
-Actual Sales?
-is there rounding?

A

This is pro-forma like inferencing the future volume so its like a guess (previous years volume * expected growth rate!!!)

-IMPLIED VOLUME*PRICE

-Must use an if statement bc youre guessing and dont wanna be inaccurate SOOOO
=IF(implied volume<Max Volume, implied volume *Price, Max Volume *Price)

-Yes roundodwn! because if youre doing customers you want whole customers and be conservative

34
Q

Retained earnings?

A

Net income (Profit) of current year + Retained earnings from previous year

35
Q

Shipping formula

A

SHIPPING*VOLUME

36
Q

5 RATIOS5

A

Profit Margin
Current Ratio
Debt Ratio
Debt to Equity Ratio
Asset Turnover

37
Q

profit

A

revenue-costs

38
Q

how to calculate NON CURRRENT ASSETS WHEN GIVEN ACCUUALTED CCA!!!!!

A

EQUIPMENT- ACCUMULATED CCA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!111

39
Q

“payable”

A

owing

40
Q

current assets

A

assets that will be liquid in one year

41
Q

non-current assets

A

things that will be not liquid for a while EQUIPMENT!

42
Q

VLOOKUP FORMULA

A

=(cell w info, chart ABS REF, column in range you wana get)

43
Q

HLOOKUP

A

=(cell w info, chart ABS REF, row in range you wana get)

44
Q

HLOOKUP

A

=(cell w info, chart ABS REF, row in range you wana get)

45
Q

What is Goalseek

A

Trial and error speedrun

46
Q

Goalseek sections

A

set cel: which cell has the val you wanna change!!!
to value: integer that you want set cell to be
by changing cell: which cell is gonna change for this to happen

47
Q

Profit Margin Ratio

A

Net Income/Sales

PROFITABILITY

48
Q

Current Ratio

A

Current Assets/Current Liabilities

LIQUIDITY

49
Q

Quick Ratio

A

Current Assets-Inventory/Current Liabilities

LIQUIDITY

50
Q

Debt Ratio

A

Total DEBT/Total Assets

LEVERAGE OR DEBT RATIOS

51
Q

Debt to Equity Ratio

A

Total Debts/Equity

Leerage or Debt Ratios

52
Q

Asset TURNOVER

A

Net Sales/Total Assets

REVENUE/TOTAL ASSETS

Activity/Efficiency Ratio

53
Q

4 types of ratios

A

profitability- profit margin
Liquidity- current ratio/ quick ratio
leverage or debt ratios- debt/debt to equity
Activity/Efficieny- Asset Turnover

54
Q

do you roundup or down in implied volume

A

DOWN bc you want full customers

55
Q

Breakeven sales?

A

Price*Breakeven points volume

56
Q

What formula always used in breakeven

A

Rounddown

57
Q

Year to Year growth rate?

A

(Current Year/Previous Year)-1

58
Q

gst relation?

PCO

WHY?

A

GST paid-GST Collected=GST owing

-Paid is first because Revenue GST is gonna be so HIGH! Because you earned a lot of $$$
-Collected will be lesser bceause not all costs are GST eligible

59
Q

Balance Sheet; CCA section with Non-Current Assets

3

A
  1. Be careful with the acquisitions of different classes! USE ROWS 3&4 for their data!!! (the untouched cells)

Formula: (Last years acquistion+this years acquisition-this years disposition)

2.Accumulated CCA: LESS!! and also ACCUMULATED (add up every year as you go along) USE ROW 8 FOR ITS DATA

Formula: (Last years CCA + this years capital cost appreciation)

  1. Subtract accumulated CCA from the value you got in the first row of acquisiton/disposition cells
60
Q

what are TWO SECTIONS YOU HAVE TO BE CAREFUL OFF?????

A

BALANCE SHEET CCA SECTION (3 POINTS)

INTEREST!!! (-)

61
Q

INTEREST HOW DO YOU DO

A

ITS always positive; so in Income statement put

=-Interest

to make positive!!!

62
Q

How to do Break evens?

why volume?

A
  1. Make a new sheet for break even (Copy income statement)
  2. Erase ONLY the volume cells for Breakeven Year!!!!
  3. use goal seek
    Set cell=net income
    to= 0
    by chanigng cell= volume
  4. whatever you get copy into breakeven volume section! USE FORMULA ROUNDDOWN
    =ROUNDDOWN(volume,0)
  5. Get Breakeven Revenue by multiplying Breakeven volume by price

bc this is the variable

MGST 217 (7 decks)

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