Deck 4 Flashcards
what is a large accelerated filer by the SEC and how many days must the report be made?
700mil or more, 60 days for the annual report
for accelerated filers its 75 days
how are marketable debt securities reported?
both st and lt marketable debt securities are reported at carrying amount.unless there is a permanent decline in market value.
what is the minimum operating period for a prepaid?
12 months
under equity method, what makes the investment account go up and down?
net income by the % invested makes it go up, and dividends reduce it by the %. Include purch price too.
how is a change from non-gaap to gaap reported?
as correction of an error and adjusted to beginning RE, net of tax
under modiffied accrual accounting, when are revenues recognized?
when they become available and measurable
how are property taxes, licences, and fines classisfied in r budgetary control?
classified as estimated revenues
what is the purpose of reporting seperate fund financial statements for governmental?
to provide additional information about the primary government
when can an impairment be reversed?
it is prohibited unless held for disposal
what establishes a balanced budget for governemntal?
interperiod equity
helps users assess if current year revenues are enough to pay for sercices during the year
what is a valuation account?
for DTAs only, when part or all of the dta will not be realized.
are notes payable recorded at face or payments?
all note payables are reported at the pv of the annual payment using the market rate
when is goodwill expensed and when is it capitalized?
expense goodwill costs to maintain
capitalize goodwill from a purchase
how is interest revenue and interest receivable calculated on a held to maturity bond?
revenue: purchase pricemarket ratemonths/year
receivable: face value*stated rate *months out of year
what is the CAR IN BIG?
CAR=book value of net assets acquired
Investment in sub-purch price
Noncontrolling interest
Balance sheet adj up to fair value
Intangible assets
Gain/loss
