in an economic exchange
Management magnified strategies for revenue growth in an economic downturn
... Big Three) in June 2009, using technology transfer instead of cash to seal the bargain In banking, TD Bank Financial Group in Canada and Banco Santander in Spain have both used a strong and stable ... right company “We have a saying in China,” says Dr Weijiong Zhang, co-dean of the China Europe International Business School in Shanghai “If you are a good company, the banks are chasing you If ... Bancorp in the US, and Banco Santander bought Alliance & Leicester and the savings business of Bradford & Bingley in the UK In both cases, the purchases fit a long-term growth strategy that management...
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Financial accounting in an economic context 8e chapter 01
... Financial Accounting and Its Economic Context The Role of Financial Reporting in Investment Decisions Profit-seeking companies - managers prepare reports for owners of the companies Owners and ... affect the company and its managers Financial Reporting and Investment Decisions Content of Financial Reports The Management Letter The Financial Statements: – – – – Balance Sheet Income Statement ... company and to the shareholders of the company It expresses an opinion as to whether the financial statements present fairly the financial activities of the company and whether the financials...
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Financial accounting in an economic context 8e chapter 02
... issuance of notes, debt, sale of equity, etc – Payments on notes, debt, dividends, etc 13 Classifying Financing, Investing, and Operating Transactions Financing and Investing Transactions Operating ... Financial Statements Business Activities Business activities are reflected in financial statements; business activities include: – Operating activities – selling goods and services – Investing ... retained earnings component Beginning retained earnings Plus: Net income Less: Dividends Ending retained earnings REBegin + NI - Div = REEnd 10 International Perspective – Balance Sheet Many non-U.S...
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Financial accounting in an economic context 8e chapter 03
... objectivity and timeliness Alternative accounting periods include the calendar or fiscal year Going Concern The life of an economic entity is assumed to be indefinite Assets, defined as having ... an economic entity’s performance and position is assumed stable If true, the monetary unit must maintain constant purchasing power Inflation, however, changes the monetary unit’s purchasing ... value inventory Problem: Some managers have abused the conservatism constraint in earnings management 26 International Perspective Conservatism is pervasive in foreign financial statements In...
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Financial accounting in an economic context 8e chapter 04
... The Mechanics of Financial Accounting Chapter 4: The Mechanics of Financial Accounting The first step in the accounting process is transaction analysis This process examines relevant, objectively ... trial balance is a beginning balance; while the revenues, expenses and dividends are displayed in the trial balance, they have not yet been included in (closed to) retained earnings 41 Financial ... The financial statements for Kelly Supply (next slides), and other examples in text, can be used as guidelines to prepare financial statements The financials should be prepared in the following...
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Financial accounting in an economic context 8e chapter 05
... Chapter 5: Using Financial Statement Information Control and Prediction Financial accounting numbers are useful in two fundamental ways: – They help investors and creditors influence and monitor ... the “income” to future periods 12 Assessing Earnings Quality Employing off-balance-sheet financing - this relates to certain economic transactions that are not reflected in the balance ... Within the Industry Financial accounting numbers can also be made more meaningful if they are compared to those of similar companies Comparison of financial accounting numbers with industry...
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Financial accounting in an economic context 8e chapter 06
... to the Allowance account to achieve the “desired ending balance.” 27 Allowance for Doubtful Accts (T-account) Allowance for Doubtful Accts Beginning Balance The allowance established in the prior ... ending balance” in the allowance account is estimated using the percentage calculation or the aging schedule 30 Allowance for Doubtful Accts (T-account) Allowance for Doubtful Accts Beginning ... “desired ending balance” in the allowance account The focus is on the Allowance account 32 Class Problem Given the following information: At December 31, 2009, Company Z prepared an aging schedule...
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Financial accounting in an economic context 8e chapter 07
... would then increase the Gross profit to $421 ($1,277 $856) 13 E7-6 b Error in Ending Inventory in 2008: = The 2007 error in the Ending Inventory changes the Beginning Inventory in 2008 and the Goods ... 12 E7-6 a Error in Ending Inventory in 2007: The $50 understated error in the Ending inventory means that the Ending Inventory should have been $268 + $50 = $318 This would change the Cost of ... costs are included in inventory? – General rule: all costs associated with purchase or manufacture, including shipping to facility – Freight -in (transportation -in) adds to the cost of inventory...
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Financial accounting in an economic context 8e chapter 08
... Equity Investments 10 The Cost Method 11 E8-8 Mystic Lakes Food Company began investing in equity securities for the first time in 2011 During 2011, the company engaged in the following transactions ... Business Acquisition, Mergers, and Consolidated Financial Statements A business acquisition occurs when an investor company acquires a controlling interest (more than 50 percent of the voting ... long-term depending on management’s intention) Trading and Available-for-Sale Securities Purchasing Trading and Available-for-Sale Securities - Recorded on the balance sheet at cost, including acquisition...
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Financial accounting in an economic context 8e chapter 09
... Maintenance? Betterments: – Increase asset’s useful life – Improve quality of asset’s output – Increase quantity of asset’s output – Reduce asset’s operating costs Maintenance – maintain ... Straight-line – (3) Double-declining balance – (4) 150 percent declining balance – (5) Sum-of-the-years digits – (6) MACRS (income tax depreciation) – Under IFRS, depreciation accounting is very ... Freight & handling, Insurance while in transit, Installation Self Constructed Assets What to Capitalize? Direct Materials & Labor Variable Overhead Apply Fixed Overhead Interest During Construction,...
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Financial accounting in an economic context 8e chapter 010
... regarding debt limits Management – wants to minimize debt on the balance sheet – often looks for “off-balance sheet” financing – less debt now improves ability to borrow in the future Current ... bonuses 10 Incentive Compensation 11 Contingent Liabilities Contingent on some future event or activity in order to know the exact amount Examples: warranties, coupons and lawsuits Changes in estimate ... Shareholders and investors – interest expense is tax deductible, but more debt means more risk to shareholders – equity ownership is subordinated to creditors Creditors – restrictive covenants regarding...
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Financial accounting in an economic context 8e chapter 011
... balance sheet by using “off-balance-sheet financing” Basic Definitions and Different Contractual Forms Some contracts, called interest-bearing obligations, require periodic (annual or semiannual) ... the company was offering an interest rate greater than the market rate, and investors were willing to pay more for the higher interest rate 19 Problem - Amortization Schedule To recognize interest ... Bonds, and Leases Long-Term Liabilities Economic Consequences of Reporting Long-Term Liabilities Improved credit ratings can lead to lower borrowing costs Management has strong incentive to manage...
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Financial accounting in an economic context 8e chapter 012
... RE if necessary for any remaining balance (this is only necessary when we are decreasing equity) 15 Retained Earnings We will be expanding the basic retained earnings formula in this chapter Now ... owners, have voting rights, limited liability, and a residual interest in the corporate assets Retained Earnings Relative Importance of Liabilities, Capital, and Retained Earnings (% of total ... issued and outstanding at January 1, 2007 The stock had been issued at an average market price of $5 per share, and there have been no treasury stock transactions to this point Assume that, in February...
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Financial accounting in an economic context 8e chapter 013
... Net Income Fair Market Value approach: FMV Net Assets (end) - FMV Net Assets (beginning) = Net Income Financing, Investing, and Operating Transactions: A Framework 10 Classifying Operating Transactions ... company uses a multi-step income statement; more relevant for companies that are primarily retail or manufacturing (less relevant for service industries) – Income from operations indicates income ... numerator and denominator use actual shares outstanding and actual net income for the year 20 Earnings Per Share (EPS) Class problem: Bush Company reported net income of $30,000 in 2007 The company...
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Financial accounting in an economic context 8e chapter 014
... Financing Activities CF from financing activities explain the changes in cash from the issue or retirement of the company’s (primarily) long-term liabilities and equity Examples of financing ... the gain from net income 20 Indirect Method Change in Related Assets and Liabilities The third category examines the change in the assets and liabilities that relate to the remaining income ... To analyze this effect, we must analyze the A/R account, and how it is increased and decreased 22 Indirect Method Change in Related Assets and Liabilities Accounts Receivable Beginning Balance...
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45 test bank for financial accounting in an economic context 9th
... $27,000 Property, plant and equipment may include which of the following? a Intangible assets and land b Inventory and equipment c Buildings and cash d Land and office buildings Sanchez Corporation ... Beginning balance + cash receipts – cash payments = ending balance c Beginning balance + dividends – net income = ending balance d Beginning balance + net income – dividends = ending balance Which ... Not enough information to determine If the beginning and ending balances in retained earnings are $15,000 and $10,000, respectively, and dividends during the year are $8,000, then net income for...
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45 test bank for financial accounting in an economic context 9th edition
... which financial statements will you find a company’s financial position at a specific point in time? a All financial statements combined b Income statement and balance sheet c Balance sheet and ... a Beginning balance + expenses – dividends = ending balance b Beginning balance + cash receipts – cash payments = ending balance c Beginning balance + dividends – net income = ending balance ... d Balance sheet only The acquisition of equity and debt financing is considered: a a financing activity b net income c an investing activity d an operating activity Which one of the following...
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45 free test bank for financial accounting in an economic context 9th
... a Beginning balance + expenses – dividends = ending balance b Beginning balance + cash receipts – cash payments = ending balance c Beginning balance + dividends – net income = ending balance ... Property, plant and equipment may include which of the following? a Intangible assets and land b Inventory and equipment c Buildings and cash d Land and office buildings Sanchez Corporation has total ... company determine how much profit was made d The SEC requires companies to so On which financial statements will you find a company’s financial position at a specific point in time? a All financial...
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45 test bank for financial accounting in an economic context 9th edition
... a company’s profit Property, plant and equipment may include which of the following? a Intangible assets and land b Inventory and equipment c Buildings and cash d Land and office buildings Which ... represents retained earnings activity for a year? a Beginning balance + expenses – dividends = ending balance b Beginning balance + cash receipts – cash payments = ending balance c Beginning balance + ... trademarks The acquisition of equity and debt financing is considered: a a financing activity 2 b net income c an investing activity d an operating activity Favre Company has current assets, shareholders’...
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63 test bank for financial accounting in an economic context 8th đề thi trắc nghiệm có đáp án
... operating, investing, and financing activities An explanation about the assumptions, estimates, and choices of alternative accounting methods used in the financial statements is found in the ... liabilities, and shareholders’ equity as of a certain date d operating, investing, and financing activities An internal control system a.is maintained to ensure that transactions of a company are ... liabilities, and owners’ equity at a point of time b operating, investing, and financing activities c beginning balance plus income less dividends d how much cash the company owes its employees CPA is an...
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