FAR Flashcards

Decks in this Class (134):

• Accrual Accounting

  Accrual Accounting

  Sample Cards:

  what does the composition of gaap includ,

  what is the sole source of authority of,

  what is the codification of gaap
  17 Cards
  Preview Flashcards
• Financial Statements

  Financial Statements

  Sample Cards:

  what is a major exception of the all inc,

  what is the balance sheet used for,

  what are the two presentation formats of
  16 Cards
  Preview Flashcards
• Financial Accounting Standard Codificati

  Financial Accounting Standard Codification

  Sample Cards:

  what are the goals of the codification,

  how are changes to authoritative gaap ac,

  what is an accounting standards update a
  11 Cards
  Preview Flashcards
• Framework Overview And Statement

  Framework, Overview And statement

  Sample Cards:

  what is gaap,

  what 3 aspects of financial reporting do,

  who is the current standard setting body
  12 Cards
  Preview Flashcards
• Recognition And Measurement

  Recognition And Measurement

  Sample Cards:

  what is an exit price,

  in what situations can the entry transac,

  what is an entry price
  15 Cards
  Preview Flashcards
• Objectives And Qualitative Characteristi

  Objectives and Qualitative Characteristics

  Sample Cards:

  what is considered as the conceptual fra,

  what is the constitution for developing,

  list the parts of the conceptual framewo
  19 Cards
  Preview Flashcards
• Assumptions Accounting Principles

  Assumptions, Accounting Principles

  Sample Cards:

  entity assumptions,

  going concern assumption,

  unit of measure assumptions
  23 Cards
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• Constraints And Present Value

  Constraints and Present Value

  Sample Cards:

  what is an accounting constraint,

  what are the 2 accounting constraints,

  what is the cost effectiveness constrain
  13 Cards
  Preview Flashcards
• Fair Value Framework Introduction

  Fair Value Framework - Introduction

  Sample Cards:

  which pronouncement provides guidance on,

  what are the objective of asc820,

  what is the definition of fair value
  15 Cards
  Preview Flashcards
• Fasb And Standard Setting Process

  FASB and Standard Setting Process

  Sample Cards:

  what is the purpose of financial account,

  what are financial statements,

  what is gaap
  19 Cards
  Preview Flashcards
• Inputs And Hierarchy

  Inputs and Hierarchy

  Sample Cards:

  what are inputs,

  what is an observable input,

  what is an unobservable input
  7 Cards
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• Disclosure Requirements Fair Value Frame

  Disclosure Requirements - Fair Value Framework

  Sample Cards:

  what does fair value on a recurring basi,

  what does fair value on a nonrecurring b,

  what disclosures are required when using
  8 Cards
  Preview Flashcards
• Sec Role And Standard Setting Process

  SEC - Role and Standard-Setting Process

  Sample Cards:

  what is the sec,

  what laws does the sec administer,

  does the sec set accounting standards
  15 Cards
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• Sec Reporting Requirements

  SEC Reporting Requirements

  Sample Cards:

  what does the 1933 securities act requir,

  what does the 1934 securities act do,

  where are the formal sec rules found
  19 Cards
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• Iasb And Structure

  IASB and Structure

  Sample Cards:

  what is the iasb,

  what are the objectives of the ifrs foun,

  what are ifrs
  15 Cards
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• Iasb Accounting Standards

  IASB Accounting Standards

  Sample Cards:

  what are the 3 levels of international g,

  how is ifrs more principles based than g,

  how does ifrs address small and medium s
  18 Cards
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• Iasb Framework

  IASB Framework

  Sample Cards:

  what is the iasbs framework for the prep,

  in what cases can the iasbs framework fo,

  what are the purposes of the iasb framew
  14 Cards
  Preview Flashcards
• Balance Sheet Statement Of Financial Pos

  Balance Sheet/Statement of Financial Position

  Sample Cards:

  what is another name for the balance she,

  what does the title of the balance sheet,

  do most account balances on the balance
  34 Cards
  Preview Flashcards
• Income Statement

  Income Statement

  Sample Cards:

  what is an increase in net assets or set,

  what is a decrease in net assets or incu,

  what is a net increase in equity or net
  22 Cards
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• Statement Of Comprehensive Income

  Statement of Comprehensive Income

  Sample Cards:

  what is comprehensive income formula,

  what asu aligned us gaap presentation of,

  is earnings per share calculated for oth
  11 Cards
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• Statement Of Changes In Owner S Equity

  Statement of Changes in Owner's Equity

  Sample Cards:

  the statement of changes in owners equit,

  is the statement of changes in owners eq,

  how many years of owners equity must be
  8 Cards
  Preview Flashcards
• Sources And Uses Of Cash

  Sources and Uses of Cash

  Sample Cards:

  is statement of cash flows a required st,

  what is the basic purpose of the stateme,

  does the scf provide information other t
  13 Cards
  Preview Flashcards
• Operating Investing And Financing Activi

  Operating, Investing and Financing Activities

  Sample Cards:

  what are the major cash inflows from ope,

  what are the major cash outflows from op,

  what two approaches can be used to prese
  15 Cards
  Preview Flashcards
• Operating Cash Flows Indirect Method

  Operating Cash Flows - Indirect Method

  Sample Cards:

  what are the differences between indirec,

  what type of accounting does the scf use,

  under the direct method of cash flows fr
  15 Cards
  Preview Flashcards
• Notes To Financial Statements

  Notes to Financial Statements

  Sample Cards:

  what are some of the basic disclosures r,

  define nominal dollars,

  define purchasing power
  21 Cards
  Preview Flashcards
• Ratios Liquidity Solvency And Operationa

  Ratios - Liquidity/Solvency and Operational

  Sample Cards:

  what is financial statement ratio analys,

  what does ratio analysis of financial st,

  what does a liquidity solvency ratio mea
  32 Cards
  Preview Flashcards
• Ratios Profitability And Equity

  Ratios - Profitability and Equity

  Sample Cards:

  what are profitability ratios used for,

  what is the profit margin ratio,

  what is the return on total assets ratio
  13 Cards
  Preview Flashcards
• Cash Modified Cash Income Tax

  Cash, Modified Cash, Income Tax

  Sample Cards:

  when can financial statements be prepare,

  what are the categories of other compreh,

  what are the characteristics of a cash b
  12 Cards
  Preview Flashcards
• Introduction To Personal Financial State

  Introduction to Personal Financial Statements

  Sample Cards:

  who uses personal financial statements,

  when are personal financial statements n,

  what financial statements are typically
  12 Cards
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• Private Company Council

  Private Company Council

  Sample Cards:

  what does the private company council pc,

  what is a private company,

  how does the pcc define a public company
  9 Cards
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• Ifrs For Smes

  IFRS for SMEs

  Sample Cards:

  does ifrs have a concept comparable to o,

  what is the ifrs for smes,

  what are the objectives of the ifrs for
  11 Cards
  Preview Flashcards
• Cash

  Cash

  Sample Cards:

  what is a cash equivalent,

  what is the main reporting issue with ca,

  what is included in cash account
  12 Cards
  Preview Flashcards
• Bank Reconciliations

  Bank Reconciliations

  Sample Cards:

  what are the benefits provided by a bank,

  what is the purpose of the simple bank r,

  what are the 3 formats for the simple ba
  6 Cards
  Preview Flashcards
• Accounts Receivable Introduction And Val

  Accounts Receivable Introduction and Valuation

  Sample Cards:

  what are the characteristics of accounts,

  what is another name for customer accoun,

  what are the characteristics of notes re
  8 Cards
  Preview Flashcards
• Uncollectible Direct Write Off And Allow

  Uncollectible - Direct Write-Off and Allowance

  Sample Cards:

  what are the two methods used to account,

  what is the direct write off method used,

  what are the negative aspects of using t
  11 Cards
  Preview Flashcards
• Allowance Income Statement And Balance S

  Allowance - Income Statement and Balance Sheet Approach

  Sample Cards:

  what two approaches are allowed when est,

  what is the income statement approach to,

  what is the balance sheet approach to es
  6 Cards
  Preview Flashcards
• Notes Receivable

  Notes Receivable

  Sample Cards:

  what is the key reporting issue for note,

  who is the buyer or borrower of a note,

  who is the seller or lender of a note
  9 Cards
  Preview Flashcards
• Criteria For Sale Of Receivables

  Criteria for sale of receivables

  Sample Cards:

  what is a maker,

  with respect to the transfer of receivab,

  if the conditions are met to qualify a r
  6 Cards
  Preview Flashcards
• Factoring Assignment And Pledging

  Factoring, Assignment and Pledging

  Sample Cards:

  what is a transferor to factor,

  who bears the cost of bad debts when fac,

  who bears the costs of bad debts when fa
  6 Cards
  Preview Flashcards
• Loan Impairment

  Loan Impairment

  Sample Cards:

  what are impaired loans receivable writt,

  what is the entry to write down loan rec,

  when does loan impairment occur
  6 Cards
  Preview Flashcards
• Introduction To Inventory

  Introduction to Inventory

  Sample Cards:

  what is normally included in inventory,

  what does is included in the inventory o,

  what type of inventory do merchandising
  20 Cards
  Preview Flashcards
• Periodic Inventory System And Cost Flow

  Periodic Inventory System and Cost-Flow Assumption

  Sample Cards:

  list the formula for calculating cost of,

  what account holds inventory acquisition,

  is the inventory account used to record
  19 Cards
  Preview Flashcards
• Perpetual Inventory System And Cost Flow

  Perpetual Inventory System and Cost-Flow Assumption

  Sample Cards:

  what are the main differences between th,

  what cost flow assumption is the same fo,

  what cost flow assumption utilizes the l
  7 Cards
  Preview Flashcards
• Evaluation Of Fifo And Lifo

  Evaluation of FIFO and LIFO

  Sample Cards:

  regardless of price changes how will fif,

  what is the main reason for using last i,

  what are the attributes of first in firs
  8 Cards
  Preview Flashcards
• Dollar Value Lifo

  Dollar Value LIFO

  Sample Cards:

  what are the advantages of dollar valued,

  why would an entity utilize dollar value,

  list the steps in applying dollar valued
  8 Cards
  Preview Flashcards
• Lower Of Cost Or Market

  Lower of cost or market

  Sample Cards:

  when inventory market cost falls below b,

  how is the cost of ending inventory dete,

  what is market cost when analyzing lower
  12 Cards
  Preview Flashcards
• Gross Margin And Relative Sales Method

  Gross Margin and Relative sales method

  Sample Cards:

  what is the gross margin percentage form,

  can the gross margin method for inventor,

  what is the purpose of the gross margin
  8 Cards
  Preview Flashcards
• Retail Inventory Method

  Retail Inventory Method

  Sample Cards:

  what inventory method is used by retaile,

  what 3 basic calculations are used in th,

  what is included in the average lower of
  9 Cards
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• Dollar Value Lifo Retail

  Dollar Value LIFO Retail

  Sample Cards:

  when companies use the lifo cost flow as,

  list the two steps of dollar valued dv l
  2 Cards
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• Inventory Errors

  Inventory Errors

  Sample Cards:

  what is the basic inventory equation,

  if beginning inventory is understated an,

  if an inventory error is discovered in y
  5 Cards
  Preview Flashcards
• Losses On Purchase Commitments

  Losses on purchase commitments

  Sample Cards:

  what is the required accounting for a po,

  what is the required accounting for a po,

  if a firm has a purchase commitment that
  5 Cards
  Preview Flashcards
• Inventory And Ifrs

  Inventory and IFRS

  Sample Cards:

  list the three methods of assigning valu,

  under international financial reporting,

  can a company following international fi
  7 Cards
  Preview Flashcards
• Categories And Presentation

  Categories and Presentation

  Sample Cards:

  how do land improvements differ from lan,

  list the requirements an assetmust have,

  what are some examples of natural resour
  8 Cards
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• Capitalized Cost

  Capitalized Cost

  Sample Cards:

  what is the general rule for capitalizin,

  what are the considerations that must be,

  list the components of capitalized costs
  5 Cards
  Preview Flashcards
• Valuation

  Valuation

  Sample Cards:

  define cash equivalent price,

  how are donated items recorded,

  how is the price for group purchases rec
  7 Cards
  Preview Flashcards
• Interest Capitalization 1

  Interest Capitalization 1

  Sample Cards:

  list the conditions that must exist to c,

  list the interest capitalization formula,

  what is average accumulated expenditures
  10 Cards
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• Interest Capitalization 2

  Interest Capitalization 2

  Sample Cards:

  where should the amount of interest paid,

  if average accumulated expenditures aae,

  if average accumulated expenditures aae
  6 Cards
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• Notes Payable

  Notes Payable

  Sample Cards:

  how do short term notes payable compare,

  what is a stated rate in regards to note,

  what is a yield rate in regards to notes
  26 Cards
  Preview Flashcards
• Bond Accounting Principles

  Bond Accounting Principles

  Sample Cards:

  what is a bond,

  what is the face maturity value of a bon,

  what is the stated coupon interest rate
  14 Cards
  Preview Flashcards
• Bond Complications

  Bond Complications

  Sample Cards:

  what is a zero coupon bond,

  how many months of interest are collecte,

  define bond proceeds
  7 Cards
  Preview Flashcards
• Bond Fair Value Option

  Bond Fair Value Option

  Sample Cards:

  how is interest expenses on the current,

  what is the balance sheet effect of the,

  what is the income statement effect of t
  7 Cards
  Preview Flashcards
• Convertible Bonds

  Convertible Bonds

  Sample Cards:

  what is the purpose of a convertible bon,

  when a convertible bond is issued how ar,

  what 2 methods are allowed in accounting
  7 Cards
  Preview Flashcards
• Bonds With Detachable Warrants

  Bonds with Detachable Warrants

  Sample Cards:

  what are the characteristics of bonds wi,

  when bonds are sold with detachable warr,

  how is the purchase price allocated to b
  8 Cards
  Preview Flashcards
• Refinancing Short Term Obligations

  Refinancing Short Term Obligations

  Sample Cards:

  what are the two conditions that must be,

  where must the details of a refinancing,

  are there any differences between us gaa
  4 Cards
  Preview Flashcards
• Debt Retirement Principles

  Debt Retirement Principles

  Sample Cards:

  how is the retirement of debt at maturit,

  where are most gains and losses on debt,

  when interest rates have increased since
  9 Cards
  Preview Flashcards
• Troubled Debt

  Troubled Debt

  Sample Cards:

  what is a troubled debt restructure tdr,

  what is the amount of interest to be rec,

  what is the international accounting sta
  10 Cards
  Preview Flashcards
• Debt Covenant Compliance

  Debt Covenant Compliance

  Sample Cards:

  what is a debt covenant,

  what is the classification of a liabilit,

  list some examples of specific attribute
  8 Cards
  Preview Flashcards
• Owner S Equity Basics

  Owner's Equity Basics

  Sample Cards:

  what are the two main categories of owne,

  what is owners equity,

  what is the owners equity equation
  27 Cards
  Preview Flashcards
• Stock Issuance

  Stock Issuance

  Sample Cards:

  how is a cash sale of common stock handl,

  when stock is sold on a subscription bas,

  how is stock sold on a subscription basi
  9 Cards
  Preview Flashcards
• Preferred Stock

  Preferred Stock

  Sample Cards:

  under what condition is retained earning,

  what is the accounting treatment for the,

  for what amount is preferred stock addit
  5 Cards
  Preview Flashcards
• Treasury Stock Principles Cost Method

  Treasury Stock Principles, Cost Method

  Sample Cards:

  why would a firm buy its own stock,

  what are some characteristics of treasur,

  what are the 2 methods to account for tr
  14 Cards
  Preview Flashcards
• Dividends

  Dividends

  Sample Cards:

  what are the 3 important dates in relati,

  what types of dividends require establis,

  define scrip dividend
  13 Cards
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• Stock Dividends And Splits

  Stock Dividends and Splits

  Sample Cards:

  what is a stock dividend,

  is a liability recorded in relation to a,

  what are the effects of a stock dividend
  8 Cards
  Preview Flashcards
• Dividend Allocation

  Dividend Allocation

  Sample Cards:

  list the order of dividend payment if no,

  list the order of payment for partially,

  list the order of dividend payment when
  4 Cards
  Preview Flashcards
• Stock Rights Retained Earnings

  Stock Rights, Retained Earnings

  Sample Cards:

  what is a stock right,

  list the reasons for appropriating retai,

  define restrictions on retained earnings
  9 Cards
  Preview Flashcards
• Book Value Per Share Quasi Reorganizatio

  Book Value per Share, Quasi Reorganization

  Sample Cards:

  list the accounting steps in a quasi reo,

  define book value per share,

  what is the effect on book value per sha
  9 Cards
  Preview Flashcards
• General Revenue Recogniztion

  General Revenue Recogniztion

  Sample Cards:

  what are the 3 criteria that must be met,

  in what two situations can the installme,

  what is the gross profit formula
  5 Cards
  Preview Flashcards
• Other Revenue Situations

  Other Revenue Situations

  Sample Cards:

  what is the cost recovery method of reve,

  what is the justification for using the,

  in regards to agriculture products what
  7 Cards
  Preview Flashcards
• Contract Accounting

  Contract Accounting

  Sample Cards:

  what two methods of revenue recognition,

  what method is used under international,

  what is the amount of loss recognized in
  13 Cards
  Preview Flashcards
• Costs And Expenses

  Costs and Expenses

  Sample Cards:

  what are economic sacrifices incurred by,

  do both expenses and losses provide a be,

  what account is credited in subsequent m
  9 Cards
  Preview Flashcards
• Compensated Absences

  Compensated Absences

  Sample Cards:

  what do compensated absences include,

  when is an amount less than the total be,

  what is the exception to the requirement
  5 Cards
  Preview Flashcards
• Pension Principles Reporting

  Pension Principles, Reporting

  Sample Cards:

  what are the two types of pension plans,

  define projected benefit obligation pbo,

  define pension expense
  17 Cards
  Preview Flashcards
• Pension Expense Reporting By Pension Pla

  Pension Expense, Reporting by Pension Plan

  Sample Cards:

  what components of pension expense occur,

  when do benefits vest,

  where is the pbo and fund assets reporte
  15 Cards
  Preview Flashcards
• Settlements Curtailments International

  Settlements, Curtailments, International

  Sample Cards:

  what is a pension plan settlement,

  what is a pension settlement gain or los,

  what if a pension plan is terminated whe
  8 Cards
  Preview Flashcards
• Nonretirement Postemployment Benefits

  Nonretirement Postemployment Benefits

  Sample Cards:

  what basis of accounting is used for rec,

  list the conditions under which the accr,

  list the criteria for recognition of non
  4 Cards
  Preview Flashcards
• Retirement Benefits

  Retirement Benefits

  Sample Cards:

  what are some examples of other postempl,

  where is the postretirement benefit liab,

  what is the primary post retirement bene
  8 Cards
  Preview Flashcards
• Stock Options

  Stock Options

  Sample Cards:

  what are the requirements for a stock op,

  what is a stock option plan,

  what is cliff vesting
  17 Cards
  Preview Flashcards
• Stock Awards

  Stock Awards

  Sample Cards:

  what account is credited when gross meth,

  what account is credited when net method,

  describe the accounting treatment of for
  9 Cards
  Preview Flashcards
• Stock Appreciation Rights

  Stock Appreciation Rights

  Sample Cards:

  what is the fair value of a stock apprec,

  when can compensation expense be negativ,

  what is the total compensation expense f
  5 Cards
  Preview Flashcards
• Interperiod Tax Allocation Basics

  Interperiod Tax Allocation Basics

  Sample Cards:

  what is the principle of recognizing inc,

  define deferred income tax,

  define deferred income tax provision
  8 Cards
  Preview Flashcards
• Permanent Differences

  Permanent Differences

  Sample Cards:

  what is the effect of a nontaxable reven,

  what general effect does income tax expe,

  are current year or future permanent dif
  5 Cards
  Preview Flashcards
• Temporary Differences

  Temporary Differences

  Sample Cards:

  define taxable temporary differences,

  what type of deferred tax accounts do de,

  define deferred tax asset
  5 Cards
  Preview Flashcards
• Tax Accrual Entry

  Tax Accrual Entry

  Sample Cards:

  what tax rate should be used when comput,

  how do permanent differences affect the,

  list the formula for computing the effec
  6 Cards
  Preview Flashcards
• Interperiod Tax Allocation

  Interperiod Tax Allocation

  Sample Cards:

  if future enacted tax rates are not the,

  what effect does an originating deductib,

  how is the change in the deferred tax li
  8 Cards
  Preview Flashcards
• Classification Of Deferred Tax Accounts

  Classification of Deferred Tax Accounts

  Sample Cards:

  how are deferred tax account classificat,

  if a dta dtl is not related to a bs acco,

  how are deferred tax accounts offset for
  5 Cards
  Preview Flashcards
• Valuation Allowance For Dtas

  Valuation Allowance for DTAs

  Sample Cards:

  when should a valuation allowance be pla,

  in what situations can a va be needed,

  what sources can be used to present suff
  11 Cards
  Preview Flashcards
• Uncertain Tax Positions

  Uncertain Tax Positions

  Sample Cards:

  what is an uncertain tax position utp,

  when is income tax expense reduced for a,

  what is the two step approach to determi
  6 Cards
  Preview Flashcards
• Net Operating Losses

  Net Operating Losses

  Sample Cards:

  what two options does a firm have when i,

  what is the accounting entry for a carry,

  describe the general effect of net opera
  10 Cards
  Preview Flashcards
• Types Of Changes And Accounting Approach

  Types of changes and accounting approaches

  Sample Cards:

  what are the 4 types of accounting chang,

  is a correction of an error in prior fin,

  what is a retrospective change
  17 Cards
  Preview Flashcards
• Retrospective Application

  Retrospective Application

  Sample Cards:

  what is the amount recorded for the chan,

  what account records the effect of princ,

  what is the amount of the cumulative eff
  10 Cards
  Preview Flashcards
• Prospective Application

  Prospective Application

  Sample Cards:

  what is a change in accounting estimate,

  how is a change treated when a change in,

  how are changes in accounting estimate a
  8 Cards
  Preview Flashcards
• Accounting Errors Restatement

  Accounting Errors - Restatement

  Sample Cards:

  how is an error caused in a financial st,

  what is a change from an inappropriate a,

  how is an error correction treated
  8 Cards
  Preview Flashcards
• Asset Retirement And Environmental Oblig

  Asset retirement and environmental obligations

  Sample Cards:

  when does an environmental liability nee,

  how much is capitalized to the asset ret,

  list the components of asset retirement
  6 Cards
  Preview Flashcards
• Introduction To Business Combinations

  Introduction to Business Combinations

  Sample Cards:

  what is a business combination,

  how is control defined in business combi,

  what is defined as an integrated set of
  23 Cards
  Preview Flashcards
• Introduction To Acquisition Method Of Ac

  Introduction to Acquisition Method of Accounting

  Sample Cards:

  what type of accounting is required in b,

  acquisition accounting should be used in,

  in regards to asc 805 acquisition accoun
  11 Cards
  Preview Flashcards
• Determining The Cost Of The Business Acq

  Determining the Cost of the Business Acquired

  Sample Cards:

  what two ways may an acquirer obtain con,

  what type of consideration can be used b,

  at what measurement is consideration in
  9 Cards
  Preview Flashcards
• Recognizing Measuring Assets Liabilities

  Recognizing/Measuring Assets, Liabilities and Noncontrolling Interest

  Sample Cards:

  in an acquisition at the acquisition dat,

  identify at least five items acquired in,

  describe the requirements of the acquisi
  5 Cards
  Preview Flashcards
• Recognizing Measuring Goodwill Or Bargai

  Recognizing/Measuring Goodwill or Bargain Purchase Amount

  Sample Cards:

  under what conditions will goodwill be r,

  under what conditions will a bargain pur,

  what values are compared to determine if
  5 Cards
  Preview Flashcards
• Post Acquisition Issues

  Post-Acquisition Issues

  Sample Cards:

  how should assets and liabilities arisin,

  how should contingent consideration be m,

  what assets or liabilities recognized in
  3 Cards
  Preview Flashcards
• Disclosure Requirements Acquisition Meth

  Disclosure Requirements - Acquisition Method

  Sample Cards:

  when provisional amounts for a business,

  identify the most significant general in,

  in which periods does an acquirer have t
  4 Cards
  Preview Flashcards
• Recording Business Combinations

  Recording Business Combinations

  Sample Cards:

  what does the legal form of a business c,

  what does the acquisition method of acco,

  in a legal consolidation which entity is
  9 Cards
  Preview Flashcards
• Variable Interest Entities

  Variable Interest Entities

  Sample Cards:

  what is the two step process for determi,

  what is a variable interest entity vie,

  what is a majority owned subsidiary that
  7 Cards
  Preview Flashcards
• Ifrs Business Combinations

  IFRS - Business Combinations

  Sample Cards:

  under ifrs goodwill is allocated to ____,

  under ifrs are you required to disclose,

  contingent assets are recognized in a bu
  4 Cards
  Preview Flashcards
• Introduction To Consolidated Financial S

  Introduction to Consolidated Financial Statements

  Sample Cards:

  identify the general kinds of eliminatin,

  what are the kinds of information needed,

  what is the basic sequence of steps in t
  14 Cards
  Preview Flashcards
• Consolidation At Acquisition

  Consolidation at Acquisition

  Sample Cards:

  what is the amount at which any noncontr,

  where will a noncontrolling interest acc,

  how is an in transit intercompany transa
  9 Cards
  Preview Flashcards
• Consolidation Subsequent To Acquisition

  Consolidation Subsequent to Acquisition

  Sample Cards:

  what does the investment eliminating ent,

  when a parent uses the cost method to ca,

  when a parent uses the cost method to ca
  3 Cards
  Preview Flashcards
• Consolidation Less Than 100

  Consolidation less than 100%

  Sample Cards:

  how does the noncontrolling interests in,

  when a parent uses the equity method to,

  what is the effect on consolidated value
  4 Cards
  Preview Flashcards
• I C Transactions And Balances Introducti

  I/C Transactions and Balances - Introduction

  Sample Cards:

  what are the primary types of i c transa,

  what types of transactions with other en,

  what do intercompany receivables and pay
  6 Cards
  Preview Flashcards
• Intercompany Inventory Transactions

  Intercompany Inventory Transactions

  Sample Cards:

  what type of transactions can be interco,

  what is a downstream transaction,

  what is an upstream transaction
  5 Cards
  Preview Flashcards
• Intercompany Fixed Asset Transactions

  Intercompany Fixed Asset Transactions

  Sample Cards:

  what accounts do intercompany fixed asse,

  in an intercompany fixed asset transacti,

  in subsequent years after an intercompan
  8 Cards
  Preview Flashcards
• Intercompany Bonds

  Intercompany Bonds

  Sample Cards:

  when do intercompany bonds exist,

  what eliminating entry would be required,

  for consolidated purposes what accounts
  5 Cards
  Preview Flashcards
• Combined Financial Statements

  Combined Financial Statements

  Sample Cards:

  when are consolidated financial statemen,

  when would combined financial statements,

  what is the main difference in the prepa
  4 Cards
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• Financial Instrument Introduction

  Financial Instrument Introduction

  Sample Cards:

  what are the basic types or categories o,

  identify at least five financial liabili,

  identify at least five financial assets
  5 Cards
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• Ifrs Financial Instruments

  IFRS - Financial Instruments

  Sample Cards:

  what are the categories of financial lia,

  what are the categories of financial ass,

  under international financial reporting
  6 Cards
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• Financial Instrument Disclosures

  Financial Instrument Disclosures

  Sample Cards:

  what must be disclosed for all financial,

  if it is not practicable to estimate fv,

  what are some examples of financial inst
  9 Cards
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• Derivatives Introduction

  Derivatives Introduction

  Sample Cards:

  what is a derivative,

  what is an underlying amount,

  what is a notional amounts
  15 Cards
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• Post Acquisition Expenditures

  Post-Acquisition Expenditures

  Sample Cards:

  when should post acquisition costs be ca,

  are repairs usually capitalized,

  when would you increase an assets accoun
  5 Cards
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• Nonaccelerated Depreciation Methods

  NonAccelerated Depreciation Methods

  Sample Cards:

  define book value,

  what type of allocation is depreciation,

  list the non accelerated methods of depr
  11 Cards
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• Accelerated Depreciation Methods

  Accelerated Depreciation Methods

  Sample Cards:

  what depreciation method does not use sa,

  how is the double declining balance rate,

  what is the theoretical justification fo
  8 Cards
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• Natural Resources

  Natural Resources

  Sample Cards:

  what is a natural resource,

  what is the depletion rate formula,

  what is depletion
  8 Cards
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• Ppe And Ifrs

  PPE and IFRS

  Sample Cards:

  where is revaluation surplus reported un,

  under international financial reporting,

  under international financial reporting
  5 Cards
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• Introduction Equity And Debt Investments

  Introduction - Equity and Debt Investments

  Sample Cards:

  what are equity securities,

  what are debt securities,

  what is a recognized gain or loss
  17 Cards
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• No Significant Influence

  No Significant Influence

  Sample Cards:

  at what cost are held to maturity securi,

  what investments are classified as avail,

  where are held to maturity investments r
  23 Cards
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• Cost Method And Transfers Between Classi

  Cost Method and Transfers between classifications

  Sample Cards:

  when can the cost method be used for an,

  how is the initial investment recorded u,

  when is an investment adjusted from hist
  9 Cards
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