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If you are looking for a study aid that deals with Concepts
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Accounting, Reporting and Analysis module deals with questions
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The flashcards related to concepts and standards will cover these
topics:
- Objectives of External Financial Reporting
- Financial reporting objectives, Statements of Financial Accounting
Concepts, fundamental objectives of financial reporting, usefulness
of financial information, qualitative characteristics of accounting
information, objectives of financial reporting by nonbusiness
organizations, recognition and measurement in financial statements,
measurement attributes, earnings vs. comprehensive income, 10
elements of financial statements, fundamental accounting assumptions,
fundamental accounting principles, entries to recognize revenues
and expenses, matching principle, modifying conventions, classes
of net assets, similarities between business and nonbusiness organizations.
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- Development of Accounting Standards
- Primary source of U.S. accounting standards, secondary sources
of GAAP, development of accounting pronouncements, makeup of FASB,
FASB procedures for promulgation of pronouncements, roles of FASB,
GASB, APB and CAP, groups that influence accounting standards,
purpose of IASB.
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- Financial Statements and their Purpose
- Purpose of balance sheet, advantages and disadvantages of balance
sheet, purpose of income statement, single-step vs. multi-step
income statement, purpose of cash flow statement, benefits of
cash flow statement, 2 methods for preparation of cash flow statement,
categories of cash receipts and payments under direct method,
statement of shareholders' equity, statement of comprehensive
income, prior period adjustments, limitations of financial statement
information.
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- SEC and Financial Disclosure
- SEC influence on standard setting, purpose of securities laws,
SEC Form S-1, S-2 S-3, S-4 and S-8, Regulation S-X and S-K, Securities
Act of 1933 and 1934, proxy statements, Form 8-K, SEC safe harbor
rule, Form 10-Q, Form 10-K, purpose of independent auditors' report,
red herring prospectus, shelf-registration, Summary of Significant
Accounting Policies, related party disclosure, extraordinary items,
remote loss contingencies, defined contribution pension plans,
intangible assets, long-term obligations, financial instruments
with credit risk.
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- Ratio Analysis
- Liquidity ratios, current ratio, quick ratio, defensive interval
ratio, activity ratios, acid turnover, receivable turnover, inventory
turnover, number of days in inventory, number of days in receivables,
profitability ratios, return on assets, return on common stock
equity, profit margin, leverage ratios, debt ratio, equity ratio,
debt to equity ratio, times interest earned, degree of financial
leverage, per share ratios, earnings per share, price earnings
ratio, book value per share, yield on common stock, dividend payout
ratio, limitations of ratio analysis, percentage (common-size)
analysis, vertical (common- size) analysis.
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