aFar_081219Final Flashcards
Cash Flow
Direct Method preferred, Required Reconciliation if Direct CF used
Noncash investing & Financing- report
90 days Cash or cash equivalents if purchase 90days TS = no need report in CF statement
10K filing date
Large > $700M
Accelerate > $75M
10Q filing
60-75-90 (2或3个月)
40-40-45 (unaudited) (1.5 个月)
Regulation S-X FS
BS 2, others 3 - audited.
Retrospect FS: 3 BS - 1 prior begin , 1 prior end, 1 current end.
EPS spilts
RPS spilt 追溯到 comparative IS
LIFO 来福
FIFO
LIFO 来福:
Low Inventory; Low NI;
Change to LIFE - Estimates
Not allowed in IFRS
FIFO:
EI and COGS “Same” perpetual and periodic
High Inventory; High NI;
Inventory
Gross Profit Method
Conventional Retail Method
Gross Profit Method: interim FS
Conventional Retail Method:
Cost/Retail ratio (w/make Up, Wo/Make Dn)
Impairment Loss
GAAP - IFRS
GAAP = BV - FV
Goodwill - reporting unit
IFRS = BV - higher of NRV or PVFCF
(reversal allowed)
Cash generating unit
Reversal Rule GAAP - IFRS
GAAP: GR is not allow, except fix asset Hold for Sale, restore
IFRS: GR reversal is allowed, except for Goodwill
Inventory, Prepaid expenses
Current or non current asset
Current
Inventory
Lower Cost or Market
Middle of
Replacement Cost
NRV
NRV - profit
NRV = selling price - any costs of completion, disposal, and transportation
Inventory
IFRS
Lower Cost or NRV
Purchase: Periodic - Perpetual
Periodic:
Purchase
Cash
Perpetual:
Inventory
Cash
Dollar Value LIFO -
price index=
end Inv @current / end Inv @base
BI … NI 公式
BI \+Pur ———- AFS -EI ———- COGS NI
what are …
Operating Asset
Operating Liability
OA = all CA except Cash & Cash Equivalent;
includes Trading
Exclude AFS & HTM (-> investing. Ex: fixed asset)
OL = all non-interest bearing debt Include DTL (LT OL)
*interest bearing -> Financing ex: note payable
Operating, Financing or Investing Activities
Interest Receive & Paid
Dividend Received; Dividend Paid
Taxes Paid
Non-current Asset
Interest Receive & Paid = O
Dividend Received = O
Dividend Paid = Financing
Taxes Paid = O
Non-current Asset = Investing
