1
Q
Cumulative effect
A
Change in accounting principal. After tax effect on beginning retained earnings.
2
Q
Prior period adjustment
A
Fixing an error. After tax effect on beginning retained earnings.
CPA FAR
flashcards
Decks in class (20)
# Cards
-
Balance Sheet4
-
Income Statement10
-
IFCO, Inc other than IFCO, None, OE or OCI19
-
Cash Flow Plus46
-
PP&E3
-
Ratios19
-
Investments20
-
Inventory49
-
Intangibles22
-
Liabilities50
-
Equity34
-
Transaction Effect on OE and RE24
-
Revenue recognition20
-
Deferred Comp17
-
Delayed Recongition7
-
Stock Compensation5
-
Income Taxes28
-
Accounting Changes2
-
Asset Retirement2
-
Misc6
