FAR Flashcards

Decks in this Class (31):

• Section 1 Conceptual Framework Ifrs

  Section 1 - Conceptual Framework & IFRS

  Sample Cards:

  what is gaap and who is gaap authorized,

  what are the two general purpose framewo,

  what are the special purpose frameworks
  39 Cards
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• Section 2 Cash And Cash Equivalents Bala

  Section 2 - Cash and Cash Equivalents & Balance Sheet

  Sample Cards:

  what does the balance sheet consist of,

  what are current assets,

  what are current liabilities
  10 Cards
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• Section 3 Cost And Equity Method

  Section 3 - Cost and Equity Method

  Sample Cards:

  what are the percentage used for cost an,

  what are some factors to consider when a,

  equity method points
  16 Cards
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• Section 4 Marketable Securities

  Section 4 - Marketable Securities

  Sample Cards:

  what is marketable securities,

  what is trading securities hft,

  what are trading securities j es
  14 Cards
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• Section 5 Financial Instruments And Deri

  Section 5 - Financial Instruments and Derivatives

  Sample Cards:

  what are financial instruments,

  three reasons entities acquire derivativ,

  what is a hedge
  12 Cards
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• Section 6 Foreign Operations

  Section 6 - Foreign Operations

  Sample Cards:

  what is a transactional currency,

  what is a functional currency,

  what is a reporting currency
  7 Cards
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• Section 7 Inventory

  Section 7 - Inventory

  Sample Cards:

  what is included in cost of inventory,

  who should report inventory for fob ship,

  who should report inventory for fob dest
  32 Cards
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• Section 8 Property Plant Equipment

  Section 8 - Property, Plant & Equipment

  Sample Cards:

  what are characteristics of fixed assets,

  what are included in fixed assets aka pp,

  what are acquisition costs included with
  25 Cards
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• Section 9 Intangibles

  Section 9 - Intangibles

  Sample Cards:

  what are the three basic forms of intang,

  are intangible assets identifiable and u,

  how is knowledge research and developmen
  17 Cards
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• Section 10 Receivables

  Section 10 - Receivables

  Sample Cards:

  what value should a r be reported at,

  what are the three methods of calculatin,

  is the direct write off method for bad d
  10 Cards
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• Section 11 Bonds And Pv Tables

  Section 11 - Bonds and PV Tables

  Sample Cards:

  what is a term bond,

  what is a serial bond,

  what is a debenture bond
  25 Cards
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• Section 12 Accounting For Leases

  Section 12 - Accounting for Leases

  Sample Cards:

  what is the goal for accounting for leas,

  how are operating lease costs under the,

  how are operating lease costs under the
  25 Cards
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• Section 13 Liabilities

  Section 13 - Liabilities

  Sample Cards:

  what is current liabilities valued at,

  what are the two methods to record a lia,

  what is an accrued liabilities expense
  17 Cards
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• Section 14 Pensions And Post Employment

  Section 14 - Pensions and Post Employment Benefits

  Sample Cards:

  what is a defined contribution plan,

  what is a defined benefit plan,

  what is projected benefit obligation pbo
  13 Cards
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• Section 15 Stockholders Equity

  Section 15 - Stockholders' Equity
  0 Cards
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• Section 16 Earnings Per Share

  Section 16 - Earnings Per Share
  0 Cards
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• Section 17 Reporting The Results Of Oper

  Section 17 - Reporting the Results of Operations & IFRS F/S

  Sample Cards:

  what is the current fasb presentation of,

  what are the four sections included in t,

  what are the two ways income from contin
  24 Cards
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• Section 18 Accounting Changes Error Corr

  Section 18 - Accounting Changes & Error Corrections

  Sample Cards:

  what are the three types of accounting c,

  what is change in accounting principle,

  what is the j e for change in accounting
  13 Cards
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• Section 19 Accounting For Income Taxes D

  Section 19 - Accounting for Income Taxes (Deferred Taxes)

  Sample Cards:

  what are the two type of differences bet,

  what is a permanent difference,

  what are examples of permanent differenc
  18 Cards
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• Section 20 Interim Financial Reporting

  Section 20 - Interim Financial Reporting

  Sample Cards:

  what is interim financial reporting stat,

  when computing income taxes at an interi,

  is income tax expense estimated in each
  10 Cards
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• Section 21 Segment Reporting

  Section 21 - Segment Reporting

  Sample Cards:

  what is segment reporting based on,

  a segment is reportable if it contribute,

  what are the reportable segment
  7 Cards
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• Section 22 Installment Sales And Cost Re

  Section 22 - Installment Sales and Cost Recovery Method

  Sample Cards:

  what are the 3 methods of recognizing re,

  when is the installment sales approach p,

  which revenue recognizing method is the
  8 Cards
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• Section 23 Long Term Construction Contra

  Section 23 - Long-term Construction Contracts

  Sample Cards:

  what are the two methods of accounting f,

  when is it appropriate to use the percen,

  which principle does the percentage of c
  12 Cards
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• Section 24 Personal Financial Statements

  Section 24 - Personal Financial Statements

  Sample Cards:

  for personal financial statements what v,

  for personal financial statements how ar,

  for personal financial statements what a
  5 Cards
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• Section 25 Statement Of Cash Flows

  Section 25 - Statement of Cash Flows

  Sample Cards:

  what are the three categories of activit,

  what are considered operating activities,

  what are considered investing activities
  13 Cards
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• Section 26 Financial Statement Analysis

  Section 26 - Financial Statement Analysis

  Sample Cards:

  what are the 2 ratios used to determine,

  how do you calculate current ratio,

  how do you calculate quick or acid test
  9 Cards
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• Section 27 Inflation Accounting

  Section 27 - Inflation Accounting

  Sample Cards:

  where should a company that wishes to di,

  what are asset and liability monetary fi,

  what are asset and liability non monetar
  4 Cards
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• Section 28 Partnerships

  Section 28 - Partnerships

  Sample Cards:

  what does the equity section of partners,

  what are assets liabilities capital cont,

  how are allocation of equity for partner
  7 Cards
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• Section 29 Govt Accounting

  Section 29 - Govt Accounting

  Sample Cards:

  what are the primary objectives of govt,

  who are the primary users of govt f s,

  what are the 3 fund types
  36 Cards
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• Section 30 Nfp Accounting

  Section 30 - NFP Accounting

  Sample Cards:

  what 4 groups do not for profit accounti,

  what are the 3 basic financial statement,

  what method of accounting is used for no
  30 Cards
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• Section 31 Business Combination And Cons

  Section 31 - Business Combination and Consolidation

  Sample Cards:

  under the economic entity concept how ar,

  when is consolidated f s required,

  how are cost incurred in a business acqu
  15 Cards
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