This class was created by Brainscape user Richard R. Interiano. Visit their profile to learn more about the creator.
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Decks in this class (30)
Overview of US GAAP/Conceptual framework of Financial Reporting
CPA Exam
47
cards
Fair Value Framework
Asc 820 1,
Objectives of asc 820 2,
Us gaap and ifrs on fair value 3
32
cards
IFRS
Iasc 1,
Ifrs hierarchy 2,
Qualitative characteristics of ia...
15
cards
lncome Statement
Items in oci 1,
Name the two different formats of...,
Cash equivalents 3
6
cards
Balance Sheet
Contra accounts 1,
Adjunct account 2,
Current ratio 3
22
cards
Statement of Comprehensive Income
Other comprehensive income 1,
Components of other comprehensive...,
What type of account is accumulat...
5
cards
Statement of Changes in Equity
Changes in owner s equity 1,
Presentation 2,
Treasury stock 3
4
cards
Statement of Cash Flows
Classification of cash flows 1,
Cash 2,
Restricted cash 3
18
cards
Notes to Financial Statements
Managements discussion and analys...,
Future maturities on a company s ...,
Purchasing power gain 3
13
cards
Ratios
Liquidity solvency ratios 1,
Operational efficiency ratios 2,
Profitability 3
11
cards
Consolidated Financial Statements
Majority voting interest 1,
Consolidated financial statements 2,
Exceptions to consolidation 3
12
cards
SEC
Foreign private issuer 1,
Sec pronouncements are only follo...,
Sec pronouncements 3
9
cards
EPS
Basic eps 1,
Diluted eps 2,
Formula for basic eps 3
5
cards
Segment Reporting
Operating segment 1,
Tests for which segments are repo...,
Threshold for tests for which seg...
4
cards
Interim Reporting
Interim financial statements are ...,
Interim statements are or not aud...,
Required by us gaap or sec 3
6
cards
PCC
Private company counsel 1,
Goodwill should be amortized for ...,
Intangibles acquired in business ...
5
cards
Cash
Cash 1,
Cash equivalent 2,
Restricted cash 3
5
cards
AR
Reinstatements 1,
Direct write off method 2,
Income statement approach allowan...
6
cards
Sale of Receivable
Conditions for sale of receivable 1,
If conditions are not met for sal...,
Maker 3
10
cards
Inventory
What is included in ending invent...,
Goods on consignment 2,
Items in the process of production 3
33
cards
PP & E
Land is the only ppe that doesn t 1,
Are land improvements depreciated 2,
Natural resources 3
23
cards
Non-Monetary exchange Commercial Substance
Commercial substance 1,
Nonmonetary asset 2,
No commercial substance 3
4
cards
Equity and Debt Investments
Equity investment 1,
Preferred stock 2,
Redeemable preferred stock 3
17
cards
Intangible Assets - Goodwill and Other
Identifiable intangible assets 1,
Identifiable intangible assets 2,
Definite life intangible 3
7
cards
Payables and Accrued Liabs
Liability 1,
3 types of liabs 2,
Operating liabs 3
15
cards
Longterm Debt
Effective method of interest reco...,
Straight line method of interest ...,
Stated rate on a note is presumed...
26
cards
Equity
Preferred stock 1,
Common stock 2,
Dividends in arrears 3
12
cards
Revenue Recognition
5 steps of rev recognition 1,
Two types of contract asset 2,
Unconditional contract asset 3
12
cards
Pensions
Pension fund 1,
Vesting 2,
Discount rate 3
4
cards
Acct Changes and Error Corrections
Restatement 1
1
cards
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FAR
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