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,
Objectives of asc 820,
Us gaap and ifrs on fair value
32
cards
IFRS
Iasc,
Ifrs hierarchy,
Qualitative characteristics of ia...
15
cards
lncome Statement
Items in oci,
Name the two different formats of...,
Cash equivalents
6
cards
Balance Sheet
Contra accounts,
Adjunct account,
Current ratio
22
cards
Statement of Comprehensive Income
Other comprehensive income,
Components of other comprehensive...,
What type of account is accumulat...
5
cards
Statement of Changes in Equity
Changes in owners equity,
Presentation,
Treasury stock
4
cards
Statement of Cash Flows
Classification of cash flows,
Cash,
Restricted cash
18
cards
Notes to Financial Statements
Managements discussion and analys...,
Future maturities on a companys b...,
Purchasing power gain
13
cards
Ratios
Liquidity solvency ratios,
Operational efficiency ratios,
Profitability
11
cards
Consolidated Financial Statements
Majority voting interest,
Consolidated financial statements,
Exceptions to consolidation
12
cards
SEC
Foreign private issuer,
Sec pronouncements are only follo...,
Sec pronouncements
9
cards
EPS
Basic eps,
Diluted eps,
Formula for basic eps
5
cards
Segment Reporting
Operating segment,
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
6
cards
PCC
Private company counsel,
Goodwill should be amortized for ...,
Intangibles acquired in business ...
5
cards
Cash
Cash,
Cash equivalent,
Restricted cash
5
cards
AR
Reinstatements,
Direct write off method,
Income statement approach allowan...
6
cards
Sale of Receivable
Conditions for sale of receivable,
If conditions are not met for sal...,
Maker
10
cards
Inventory
What is included in ending inventory,
Goods on consignment,
Items in the process of production
33
cards
PP & E
Land is the only ppe that doesnt,
Are land improvements depreciated,
Natural resources
23
cards
Non-Monetary exchange Commercial Substance
Commercial substance,
Nonmonetary asset,
No commercial substance
4
cards
Equity and Debt Investments
Equity investment,
Preferred stock,
Redeemable preferred stock
17
cards
Intangible Assets - Goodwill and Other
Identifiable intangible assets,
Identifiable intangible assets,
Definite life intangible
7
cards
Payables and Accrued Liabs
Liability,
3 types of liabs,
Operating liabs
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,
Common stock,
Dividends in arrears
12
cards
Revenue Recognition
5 steps of rev recognition,
Two types of contract asset,
Unconditional contract asset
12
cards
Pensions
Pension fund,
Vesting,
Discount rate
4
cards
Acct Changes and Error Corrections
Restatement
1
cards
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FAR
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