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Maxwell Hackes
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Decks in this class (42)
F1/M1 Standards and Conceptual framework
How to calculate gross margin mul...,
How to calculate income loss from...,
Land held for resale should be cl...
101
cards
F3/M1 Cash and Cash Equivalents
What is cash and cash equivalents,
Restricted and unrestricted cash,
T f a check that has been mailed ...
7
cards
F3/M2 Trade Receivables
Trade receivables vs non trade re...,
What decreases accounts receivable,
Gross method v net method recordi...
14
cards
F3/M3 Inventory
Fob shipping point freight in,
Fob destination freight out,
T f if goods are sold but the buy...
24
cards
F3/M4 PP&E
Je for land donated,
Cost of pp e,
T f ifrs permits a revaluation mo...
15
cards
F3/M5 Depreciation and Disposal
T f ifrs requires the depreciatio...,
T f ifrs requires component depre...,
Composite or group depreciation
6
cards
F3/M6 Nonmonetary Transactions
T f if a transaction has commerci...,
T f the cash received in a transa...,
T f fair value given up fair valu...
9
cards
F3/M7 Intangibles
T f under us gaap internally deve...,
T f purchased intangibles are cap...,
T f under ifrs you can capitalize...
16
cards
F3/M8 Impairment
T f intangible assets with a fini...,
T f if an intangible asset has an...,
T f pp e use the two step impairm...
5
cards
F4/M1 Financial Instruments
Financial instrument disclosures,
T f put option is the right to di...,
T f redeemable preferred stock is...
21
cards
F4/M2 Equity Method
When is it not appropriate to use...,
T f equity method accounting bank...,
Je record share of earnings from ...
12
cards
F4/M3 Basic Consolidation Concepts
When can you not apply the consol...,
T f consolidate sub at 100 fair v...,
T f nci is reported at fair value...
6
cards
F4/M4 Acquisition Method: Part 1
T f record fv of acquisition at t...,
Internal je record the acquisitio...,
T f acquisition method accounts f...
23
cards
F4/M6 Intercompany Transactions
T f when consolidating even if th...,
T f adjusting jes require you to ...,
T f if the sub acquires the paren...
7
cards
F4/M8 Goodwill Impairment
T f goodwill impairment cannot be...,
T f goodwill expenses are not cap...,
T f under us gaap goodwill is cal...
5
cards
F5/M1 Payable and Accrued Liabilities
Criteria for reclassifying short ...,
When to accrue for property taxes,
T f when collecting sales tax fro...
19
cards
F5/M2 Contingencies and Committments
Gain contingencies are not recogn...,
T f if a loss contingency is prob...,
Je to record a loss contingency t...
7
cards
F5/M3 Long-term Liabilities
When present value factor do you ...,
T f if interest compounds on an o...,
T f present value factors and fut...
14
cards
F5/M4 Bonds: Part 1
What is a bond indenture,
What is an debenture,
Convertible bonds nondetachable a...
11
cards
F5/M5 Bonds: Part 2
Amortization period is when the b...,
Straight line amortization is not...,
T f straight line amortization re...
7
cards
F5/M6 Troubled Debt Restructuring and Settlement
In a transfer of assets to settle...,
Modification of terms,
T f the creditor recognizes an im...
5
cards
F6/M1 Operating Leases
Capitalize leasehold improvements...,
Lessee a lease bonus and nonrefun...,
Rent kicker is a period expense
7
cards
F6/M2 Capital Leases
Gaap capital leaseifrs finance lease,
Lessee no rent expense,
Lessee 4 criteria for capital lea...
18
cards
F6/M3 Sale-Leaseback
Common example of a sale leasebac...,
10 90 rule only applies to us gaap
2
cards
F6/M4 Derivatives and Hedge accounting
Underlying,
Notional amount,
Value or settlement amount
23
cards
F6/M5 Foreign Currency Accounting
Historical exchange rate use for ...,
Weighted average rate income stat...,
Functional currency
9
cards
F6/M6 Income Taxes: part 1
Permanent and temporary differences,
Owe now owe later both are liabil...,
Income tax expense
11
cards
F6/M7 Income Taxes: part 2
Two step approach for recognizing...,
Deferred items are always non cur...,
Operating losses create a deferre...
7
cards
F7/M1 Pension Benefits: Part 1
Defined contribution plan,
Defined benefit plan sir age,
Accumulated benefit obligation
18
cards
F7/M2 Pension Benefits: Part 2
Pension plan asset on balance she...,
Reconciling beginning funded stat...,
Funded status must be presented o...
3
cards
F7/M3 Post retirement Benefits Other Than Pensions
Attribution period accrual of ben...,
Net post retirement benefit cost,
E amortization of the transition ...
6
cards
F7/M5 Stockholders Equity: part 1
Capital stock legal stock,
Contributed capital,
Cost of shares in equity
21
cards
F7/M6 Stockholders Equity: Part 2
Stock subscriptions,
Subscriptions not paid for at yea...,
Stock rights
10
cards
F7/M8 Stock Compensation
Noncompensatory stock option,
Ifrs does not recognize noncompen...,
Compensatory stock options are va...
8
cards
F8/M1 Earnings Per Share
Eps must be presented on the face...,
Report discontinued ops separately,
Simple capital structure
9
cards
F8/M2 Statement of Cash Flows
Operating activities,
Investing activities,
Financing activities
14
cards
F8/M3/M4
Nfp,
Financial statements full accrual,
Statement of financial position
12
cards
F8/M5 NFP Revenue Recognition
Contributions,
Contributions are classified as r...,
Contributions are classified as g...
21
cards
F8/M6 NFP Transfers of Assets
Not financially interrelated with...,
Not financially interrelated with...,
Financially interrelated
8
cards
F9/M2 Fund Structure and Fund Accounting
Governmental funds,
Proprietary funds,
Fiduciary funds
4
cards
F9/M3 Transactions and Events Part 1
Governmental funds graspp,
Governmental fund revenues and ofs,
Budgetary accounts are opposite f...
7
cards
F9/M4 Transactions and Events Part 2
Record purchase of encumbered tru...,
Calculate remaining available app...,
Interfund services
8
cards
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FAR
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