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FAR CPA Exam, CPA GLEIM PRACTICE 1 FAR, FAR chapter 1 Framework, Overview and Concepts MCQ, FAR - 1, FAR REview, FAR - final reviewed and correctly answered.$10.49
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FAR CPA Exam, CPA GLEIM PRACTICE 1 FAR, FAR chapter 1 Framework, Overview and Concepts MCQ, FAR - 1, FAR REview, FAR - final reviewed and correctly answered.
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Course
CPA - Certified Public Accountant
Institution
CPA - Certified Public Accountant
FAR CPA Exam, CPA GLEIM PRACTICE 1 FAR, FAR chapter 1 Framework, Overview and Concepts MCQ, FAR - 1, FAR REview, FAR - final reviewed and correctly answered.
FAR CPA Exam, CPA GLEIM PRACTICE 1
FAR, FAR chapter 1 Framework,
Overview and Concepts MCQ, FAR - 1,
FAR REview, FAR - final reviewed and
correctly answered.
10% combined revenue
10% combined profit/loss
10% combined assets ANS -10% Segment Reporting Size Test
75% of revenue from external parties ANS -75% Reporting Sufficiency Test
revenues
- directly traceable costs
- reasonably allocated costs
= operating profit (loss) ANS -Segment operating profit
60 days- large accelerated
75 days- accelerated
90 days- all other registrants ANS -filing deadline for the 10-K (filed annually)
40 days- large accelerated and accelerated
45 days- all other registrants ANS -Filing deadline for the 10-Q (filed quarterly)
requirements for interim and annual financial statements to be filed with the SEC ANS -What is the
Regulation S-X?
annual report of company's employee benefit plans ANS -what is the form 11-K?
,semiannual report by foreign private issuers ANS -what is the form 6-K?
filed to report major events ANS -what is the form 8-K?
statement of cash and equity
statement of cash receipts and disbursements ANS -Cash Basis Financial Statements
statement of assets and liabilities
statement of revenues collected and expenses paid ANS -Modified Cash Basis Financial Statements
statement of assets and liabilities and equity
statement of income ANS -Income tax Basis Financial Statements
cash basis revenue
+ending A/R
-Beginning A/R
- Ending unearned revenue
+Beginning unearned revenue
=Accrual basis revenue ANS -Converting the cash basis revenue to accrual basis
cash paid for purchases
+ Ending A/P
- Beginning A/P
- Ending inventory
+ Beginning inventory
= Cost of goods sold ANS -Converting cash paid for purchases to cost of goods sold
cash paid for operating expenses
,+ ending accrued liability
- beginning accrued liability
- ending prepaid expenses
+ beginning prepaid expenses
= accrual basis operating expenses ANS -converting cash paid for operating expenses to accrual basis
operating expenses
current assets / current liabilities ANS -current ratio
cash + short-term marketable securities + receivable (net) / current liabilities ANS -quick ratio
cash + marketable securities / current liabilities ANS -cash ratio
sales (net) / average accounts receivable (net) ANS -accounts receivable turnover ratio
ending accounts receivable (net) / sales (net) / 365 ANS -days sales in accounts receivable
cost of goods sold / average inventory ANS -inventory turnover ratio
ending inventory / cost of goods sold / 365 ANS -days in inventory
cost of goods sold / average accounts payable ANS -accounts payable turnover ratio
ending accounts payable / cost of goods sold / 365 ANS -days of payables outstanding
days sales in accounts receivable + days in inventory - days of payables outstanding ANS -cash
conversion cycle
sales (net) / average total assets ANS -asset turnover ratio
, net income / sales (net) ANS -profit margin
net income / average total assets ANS -return on assets (ROA)
Profit margin x asset turnover ANS -"DuPont" Return on Assets
net income / average total equity ANS -Return on equity
income before interest income, interest expense, and taxes / sales (net) ANS -Return on sales
sales (net) - cost of goods sold / sales (net) ANS -Gross (profit) margin
cash flow from operations / current liabilities ANS -operating cash flow ratio
total liabilities / total equity ANS -debt to equity ratio
total liabilities / total assets ANS -total debt ratio
total assets / total equity ANS -equity multiplier
income before interest expense and income taxes / interest expense ANS -times interest earned
income available to common shareholders / weighted average common shares outstanding ANS -
earnings per share
price per share / basic earnings per share ANS -price earnings ratio
cash dividends / net income ANS -dividend payout ratio
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