100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
HCM 316 COMP EXAM QUESTIONS & ANSWERS 2024/2025 $8.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. HCM 316 COMP
  4.  
  5. HCM 316 COMP

Exam (elaborations)

HCM 316 COMP EXAM QUESTIONS & ANSWERS 2024/2025
 0 purchase
  • Course
  • HCM 316 COMP
  • Institution
  • HCM 316 COMP

HCM 316 COMP EXAM QUESTIONS & ANSWERS 2024/2025 ACCOUNTING - ANSWERSSystem for providing financial information Financial Accounting - ANSWERSFormalizaed system of recording the organizations financial history Managerial Accounting - ANSWERSProvides financial info to help future oriented ...

[Show more]

Preview 2 out of 9  pages

Document information

  • September 19, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • hcm 316 comp exam questions answers

Written for

  • HCM 316 COMP
  • HCM 316 COMP

Seller

avatar-seller
Bensuda

Reviews received

Content preview

HCM 316 COMP EXAM QUESTIONS &
ANSWERS 2024/2025

ACCOUNTING - ANSWERSSystem for providing financial information



Financial Accounting - ANSWERSFormalizaed system of recording the organizations financial history



Managerial Accounting - ANSWERSProvides financial info to help future oriented decision making



Finance - ANSWERSManagement of the organization acquisition and disposition of resources (especially
cash)



Goals of Financial Management - ANSWERSprofitability, viability



Profitability trade off - ANSWERSThe greater the risk the greater the return



Viability trade off - ANSWERSLiquidity vs solvency : what viability is measured in



Liquidity - ANSWERSMeasure of resources that can be used to QUICKLY meet any near term obligations
(like cash)



Solvency - ANSWERSMeasure of the organizations ability to meet its LONG TERM obligations



What is included in a balance sheet - ANSWERSAssets, liabilities, and net assets



What does an operating/ income statement tell you? - ANSWERSComparison of the organizations
revenues and expenses

, What does the statement of cash flows tell you? - ANSWERSFormal report of the organizations inflow &
outflow of cash during the specific accounting period



What does a debt do - ANSWERSDecrease in liabilities and revenues & increases assets and expenses



What does a credit do - ANSWERSIncreases assets and expenses & decreases liabilities and revenues



What are the 2 types of ASSETS? - ANSWERSTangible (also known as fixed assets) and intangible



How do you calculate net assets? - ANSWERSASSETS - LIABILITIES = NET ASSETS



What's the formula for unrestricted net assets? - ANSWERSOriginal unrestricted net asset from
instructions + current net income - SUM of expenses



What's the difference between straight line depreciation and double declining balance depreciation? -
ANSWERSStraight line: used in the financial statements to show stockholders since there's lower
depreciation and higher income & depreciation equally divides the asset depreciation throughout its
useful life

DDB: used for reports to the IRS since its lower income meaning you pay less taxes & speeds up the
depreciation on an asset in the early years and educes the amount taken up in the later years



How do you calculate total assets? - ANSWERSCurrent assets + fixed assets



How do you calculate net income - ANSWERSRevenue - less expenses AKA: (excess of revenues over
expenses)



What are tangible assets? - ANSWERSLand,equipment, buildings,leaseholds, furniture, etc...



What are intangible assets? - ANSWERSGoodwill, patents, registered/trademarked names, phone
numbers, intellectual property, websites



What are the GAAPs? - ANSWERSGoing concern

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Bensuda. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $8.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69252 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$8.49
  • (0)
Add to cart
Added