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Wall Street Prep Accounting-Exam 2023 with complete solutions
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Wall Street Prep Accounting-Exam 2023with complete solutions
Liquidity Ratios - -measures of a firm's short-term ability to meet its current
obligations
-Profitability Ratios - -measures of a firm's profitability relative to its assets
(operating efficiency) and to its revenue (operating profitability)
-Activity Ratios - -Measure of efficiency of a firm's assets
-Solvency Ratios - -Measure of a firm's ability to pay its obligations
-Inventory Turnover - -COGS / avg inventory
-Receivables Turnover - -revenue / average accounts receivable
-DSO (Days Sales Outstanding) - -AR/Credit Sales * days in period
days in period/receivables turnover
-A/P turnover - -COGS / Average A/P
-PPP (payables purchasing period) - -days in period/ Accounts payable
turnover
-Current Ratio - -current assets/current liabilities
-Quick ratio (acid test) - -Cash and AR divided by current liabilities
-Gross profit margin - -gross profit/revenue
-operating margin - -operating profit/revenue
-net profit margin - -net income/revenue
-asset turnover - -revenue/ average assets
-return on assets (ROA) - -Net Income / Average Assets
-return on equity (ROE) - -net income/ total equity
-Basic EPS - -(Net Income - Preferred Dividends)/(Weighted Average of
Shares Outstanding)
, -Diluted EPS - -diluted net income / weighted average diluted shares
outstanding
-dividend yield - -dividends/net income
-debt to EBITDA - -Total Debt/EBITDA
-interest coverage ratio - -EBIT/ interest expense
-fixed charge coverage - -(EBIT + Lease charges)/(Interest Payments +
Lease charges)
-Debt to Total Assets - -Total Debt/Total Assets
-debt to equity - -total liabilities/total equity
-cash from operations (CFO) - -uses net income as a starting point and
converts accrual base net income into cash flow from operations via a series
of adjustments
-cash from investing activities (CFI) - -capital expenditures / asset sales and
purchases
-cash from financing activities (CFF) - -new borrowing / pay down of debt /
new issuance of stock / share repurchases / issuance of dividends
-working capital - --CFO
-increase in current assets = cash outflow
-increase in current liabilities = cash inflow
-asset write downs / impairments - --added back to CFS via CFO
-Increases in A/R, inventory, prepaid expenses, other current assets should
be _____________ net income to get to CFO - -subtracted
-increases in A/P, accrued expenses, other current liabilities should be
____________ net income to get to CFO - -added
-gains on sale of assets - -subtracted from CFO
-stock based compensation - -added to CFO
-Common CFI inflows/outflows - -- capital expenditures
- purchases of intangible assets
+ asset sales
+ sales of debt/ equity security
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