This class was created by Brainscape user Lynn Wikert. Visit their profile to learn more about the creator.
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Lynn Wikert
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Decks in this class (30)
Not-for-profit (nonbusiness)
Fabs sfac 4 objectives of financi...,
Sfac 4 states the 2 greatest diss...,
Sfac 4 states the 2 greatest diss...
6
cards
Governmental Accounting and Reporting
What is the measurement focus and...,
What are the government wide fina...,
What are the governmental funds f...
12
cards
Cash and cash equivalents
Define working capital,
Define current assets,
List 8 examples of current assets
41
cards
Personal Financial Statements
To who may personal financial sta...,
What are the 4 things present in ...,
What is net worth
25
cards
Income Taxes
What are the 3 acceptable methods...,
Under the cash basis or cash rece...,
What 2 criteria must be met for i...
34
cards
Basic Theory - Basic Concepts
The single source for all us gaap,
Recognition precedes cash receipt...,
Expenses are recognized as relate...
61
cards
Underlying Principles
Name the 10 underlying principles...,
As a measurement basis it is the ...,
It is recognized when it is earne...
11
cards
Modifying Conventions
Name the 5 modifying conventions,
When confronted with alternative ...,
Departure from strict compliance ...
6
cards
Elements of the Financial Statements
What are the 10 interrelated elem...,
Probable future economic benefits...,
Probable future sacrifices of eco...
12
cards
IASB
Iasb what are the 6 stages of the...,
How are the international financi...,
What is ifrs 1 stated objectives
6
cards
Finacial Statements - US
A full set of fs for a period sho...,
What is the characteristic of gen...,
What is articulation of fs
20
cards
Present Value
What is the object of present value,
Fair value captures what 5 elements,
What is the traditional approach ...
11
cards
Changes in Statement of Equity
What is the format for the statem...,
What is the similarities between ...,
What is the dissimilarities betwe...
3
cards
Statement of Cash Flows
What is the primary purpose of th...,
Cash flow information is consider...,
What items does ifrs show differe...
18
cards
Ratios
Current ratio,
What is the limitation on the cur...,
Quick ratio acid test
42
cards
SEC Reporting Requirements
What is the name of the database ...,
What is the sec regulation s k,
What is the sec regulation s t
14
cards
Employee Benefit Plans/Trusts FS
What are the 2 financial statemen...,
What 4 things must be included in...,
What 8 things must be included in...
4
cards
Property, Plant and Equipment
What 4 things can be included in ...,
How should the cost of tearing do...,
How should the cost of excavating...
39
cards
Investments
Fasb asc 320 10 05 2 governs the ...,
Investments in equity securities ...,
What are debt securities
72
cards
Fiduciary Accounting
Define fiduciary,
What is the purpose of accounting...,
What is the responsibility of the...
13
cards
Loans
When is a loan impaired,
Define loan according to fasb asc...,
Fasb asc 310 10 35 13 applies to ...
8
cards
Bonds
Define convertible bonds,
What is the conversion ratio for ...,
Theoretically the conversion feat...
16
cards
Investment Property
For life insurance policies of ke...,
When the enterprise is the benefi...,
How are funds set aside to meet s...
3
cards
Intangible Assets
What is goodwill,
What is a coinsurance requirement...,
When an insurance policy contains...
15
cards
Long Term Debt (Financial Liabilities)
Long term liabilities are recorde...,
How are issue costs on bonds reco...,
What are notes payable
32
cards
Equity
Define stockholder s equity,
Name the 9 major categories of eq...,
What does capital stock include
50
cards
Revenue Recognition
What 3 conditions must be met for...,
In most situations when is revenu...,
Prior to the point of sale signif...
33
cards
Compensation and Benefits
What 4 conditions must be met for...,
When do employee rights vest,
When do employee rights accumulate
44
cards
Accounting changes and error corrections
What are the 3 general classifica...,
What is a change in accounting pr...,
What is a change in accounting es...
21
cards
Business Combinations
When does a business combination ...,
What are the 3 traditional busine...,
What is a statutory merger
35
cards
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FAR
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