reviewer Flashcards by Charlene Arazo | Brainscape

Q

Explains net change in cash

A

SCF

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Q

cash receipt is

A

money coming in

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Q

cash disbursement is

A

cash going out

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Q

what does scf use in “for the”

A

for the year ended

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Q

operating activities

A

profit and loss

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Q

investing activities

A

non current assets

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Q

financing activities

A

equity and non current liabilities

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Q

objective of making economic decisions

A

financial statement analysis

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Q

kinds of fs analysis

A

horizontal and vertical analysis

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Q

horizontal analysis is also called

A

trend analysis

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Q

how many periods is in horizontal analysis

A

2 or more

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Q

peso change formula

A

current year - prior year

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Q

percentage change formula

A

peso change / prior year = n

n (100) = percentage change

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Q

how many periods in vertical analysis

A

single period

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Q

what to use in vertical analysis if sfp

A

total assets

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Q

what to use in vertical analysis if sci

A

net sales

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Q

ratio analysis

A

measure overall state of business

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Q

[Higher or Lower]
Working Capital

A

Higher

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Q

[Higher or Lower]
Current Ratio

A

Higher

Q

[Higher or Lower]
Quick Asset Ratio

A

Higher

Q

[Higher or Lower]
A/R Turnover Ratio

A

Higher

Q

[Higher or Lower]
Average Collection Period

A

Lower

Q

[Higher or Lower]
Inventory Turnover Ratio

A

Higher

Q

[Higher or Lower]
Average days in Inventory

A

Lower

Q

[Higher or Lower]
Number of days in operating cycle

A

Lower

Q

[Higher or Lower]
Debt to Total Asset

A

Lower

Q

[Higher or Lower]
Debt to Equity Ratio

A

Lower

Q

[Higher or Lower]
Gross Profit Margin Ratio

A

Higher

Q

[Higher or Lower]
Return on Assets

A

Higher

Q

what is savings account

A

easiest and simplest type

Q

booklet used to record transactions in bank records

A

passbook

Q

serves as debit cards

A

atm card

Q

atm meaning

A

automated teller machine

Q

what order is in the passbook

A

chronological order

Q

writes check against account balance

A

checking account

Q

cash deposited in foreign countries

A

bank account in foreign currency

Q

rule of taxation shall be uniform and equitable

A

1987 Philippine Constitution

Q

basic source of tax law

A

National Internal Revenue Law

Q

mandatory fee paid to the government

A

tax

Q

the act of collecting money by the government

A

taxation

Q

who implements the tax law

A

BIR (bureau of internal revenue)

Q

governing tax law in the philippines

A

national internal revenue code of 1997

Q

3 types of income

A

compensation, business, passive

Q

compensation income is from

A

salaries, bonuses, and allowances of employees

Q

when to file income tax

A

on or before April 15

Q

types on how to compute business income

A

itemized deduction & optional standard deduction (osd) scheme