Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

1st Quarter lessons > FABM > Flashcards

FABM Flashcards

1
Q

shows the business’s assets, liabilities, and equity as of the reoprt date

A

Statement of Financial Position

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

refer to the financial statements compiled by accountants for the company’s annual reports

A

Financial Reports

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

reports the business’s revenues, expenses, gains, and losses for the reporting period

A

Statement of Income and Expenses / Statement of Comprehensive Income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

present the changes in the owner’s capital or shareholder’s equity during the accounting period. It shows changes caused by net income, dividends, sales and purchases of stocks.

A

Statement of Changes in Equity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

exhibits the summary of the inflow and outflow of cash and cash equivalents during the reporting period

A

Statement of Cash Flows

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

presents additional information and explanation about the business’s financial statements. It explains the resulting numbers and figures like depreciation and valuation of assets and includes significant accounting policies

A

Notes to Financial Statements

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

assesses the company’s profitability and liquidity every month in order to make more efficient operating and financing decisions.

A

Management Team

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

evaluate companies’ financial performance in order to decide which securities to recommend to their clients

A

Investment Analysis

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

gauge the ability of the company to compensate its employees and give the benefits to union members

A

employees and unions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

measure borrower’s capability to pay back the loan and all additional charges and interest

A

lenders

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

examine if the company is capable to pay the items they are ordering

A

suppliers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

select a supplier that will be able to remain in business in the long run

A

customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

evaluate each other’s financial condition and adjust competitive strategies accordingly

A

Competitors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

statement of financial position is previously called the _____

A

balance sheet

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Accounting Equation for Statement of Financial Position

A

Assets = Liabilities + (Owner’s Equity - Dividends + Revenue -Expenses)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

increase when debited and decreased when credited

A

debits

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

increase when credited and decrease when debited

A

credits

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

an economic resource presently held by the company. This is a right acquired by the company from past transactions to produce economic benefits

A

assets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

the asset is cash or cash equivalent and is not restricted from being used for at least twelve months after the reporting period

A

current asset

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

includes coins, currency, checks, money orders, bank deposits, and drafts

A

Cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

short-term instruments that are readily convertible to cash

A

Cash Equivalents

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

promises to pay a certain amount of money on a certain date written by customers

A

notes receivable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

claims against customers for their purchases that are made on credit. less secured than promissory note

A

accounts receivable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

raw materials, supplies, goods placed in process, and finished goods available for sale

A

inventories

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

future expenses like rent and insurance that are paid in advance

A

Prepaid expenses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

resources with useful lives of more than twelve months that can be used to benefit the company beyond the current period

A

Noncurrent asset

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

tangible assets used in operating and administrative purposes. these include land, building, vehicles, machinery, equipment, furniture and fixtures that are expected to be used for more than one period

A

property, plant, and equipment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

the sum of the periodic depreciation charges. this is deducted from the cost of the related asset to get its book value

A

accumulated depreciation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

assets held “for the accretion of wealth through capital distribution, such as interest, royalties, dividends and rentals, for capital appreciation, etc.

A

long-term investments

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

nonmonetary assets that are identifiable because they do not have physical bodies. (patent, franchise, copyright, trademark)

A

intangible assets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

exist when one party has an obligation to transfer an economic resource or give economic benefits to another party

A

liability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

a duty or a responsibility to do or not to do something. this could be the result of a contract, agreement, legislation, policy, practice.

A

obligation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

claims against the company for purchases made on credit

A

accounts payable

34
Q

promises to pay a certain amount of money on a certain date written on behalf of the company (promissory note)

A

notes payable

35
Q

past expenses that are not yet paid. this include salaries payable, utilities payable, interest payable, and taxes payable

A

accrued liabilities

36
Q

amounts received from the customer for goods or services not yet delivered

A

unearned revenues/income

37
Q

parts of mortgage, bonds, and other long-term debts that are due within twelve months after reporting period

A

current portion of long-term debt

38
Q

records long-term debts that are secured with pledged or mortgaged assets

A

mortgage payable

39
Q

obtained borrowing money through issuing bonds to lenders

A

bonds payable

40
Q

also called capital, the difference when the total amount of liabilities is deducted from the total amount of assets

A

equity

41
Q

used under a partnership where there is an equity account for each partner

A

partner’s equity

42
Q

used for corporation, brought in by ordinary shares, preferences shares, treasury shares, share premiums, and retained earnings

A

stockholder’s / shareholder’s equity

43
Q

came from the Latin term capitalis which means property, includes the owner’s investments to the company

A

capital

44
Q

happen when owners pull out their investments

A

withdrawals

45
Q

a temporary account made for closing the income and expenses accounts at the end of accounting period

A

income summary

46
Q

stock or shares thy have voting rights

A

common stock/ordinary shares

47
Q

the sum of all paid-in capital in excess or par value from ordinary shares

A

share premium

48
Q

stocks or shares that receive dividends and have higher priority claims to assests

A

preferred stock or preference shares

49
Q

the amount of net income in excess of distributions

A

retained earnings

50
Q

shares that are bought back by the company, a contra equity acc

A

treasury shares

51
Q

are states of felt deprivation. It
is a motivating force that compels
action for its satisfaction

A

needs

52
Q

are considered as customers’
unfulfilled desires. Wants are “the form human needs
take as they are shaped by culture and individual
personality” (Kotler and Armstrong, 2016)

A

wants

53
Q

defined in business as the
desire for a certain good or service supported by
the capacity to purchase it

A

demands

54
Q

defined in business as the
desire for a certain good or service supported by
the capacity to purchase it

A

C
Management
ustomer relationship management
(CRM) i

55
Q

Finding success in CRM is tough and
demanding. Just like human
relationships, customer relations require
mutual understanding, respect, and
trust. Failure to maintain this level of
commitment between parties could end
up with a broken bond.
Agenda

A

customer value

56
Q

“the extent to which I product’s
perceived performance matches a buyer’s
expectation” (Kotler and Armstrong’ 201).

A

customer satisfaction

57
Q

Make them feel special and valued through genuine
interactions (e.g., Remembering customers’ names and
birthdays).
* Train employees to provide extraordinary service (e.g.,
Smiling and helping customers at all times).
* Offer a business hotline for customer queries and
concerns.

A

Provide exceptional customer service

58
Q

Address complaints and suggestions as soon as
possible.

A

Respond to complaints

59
Q

Be resilient in acquiring and maintaining customers.
Cross-sell to an existing customer to increase their
purchases and ans satisfaction levels.

A

be consistent

60
Q

Offer freebies, rewards, premiums and gifts (e.g., Banks
offer gifts such as planners, umbrellas, and pens

A

Show appreciation to customers

61
Q

Offer loyalty membership programs for customers to
earn rewards for constant purchases.

A

create loyal programs

62
Q

Ask customers for feedback, whether positive or negative.
Conduct short surveys to gather responses

A

Distribute guest satisfaction questionnaires and surveys

63
Q

occurs when a customer is
committed to consistently purchase products from the
same company which is a resul of a continuous
satisfaction.

A

customer loyalty

64
Q

occurs when a customer is
committed to consistently purchase products from the
same company which is a resul of a continuous
satisfaction.

A

customer loyalty

65
Q

involves all activities that can satisfy
customers by providing assistance and excellent
service before, during, and after a marketing exchange.

A

customer service

66
Q

which is “the value of
the entire stream of purchases a customer makes over a
lifetime of patronage

A

customer’s lifetime values

67
Q

is the process of effectively
and efficiently planning, implementing, evaluating the
marketing activities and strategies of a firm.

A

Strategic marketing management

68
Q

the process of establishing a mission
statement, scanning the market environment, formulating
organizational goals, and developing strategies.

A

strategic planning

69
Q

must answer what an organization is all about,
why it exists, and what value it intends to offer.

A

mission statement

70
Q

the evaluation of the ongoing
competition in a marketplace.

A

competition analysis

71
Q

defined as the plan of action to accomplish a firm’s
marketing goals and objectives

A

marketing strategy

72
Q

selling other existing products to existing customers

A

market penetration

73
Q

offering new products to existing customers

A

product development

74
Q

selling existing products to new
customers

A

market development

75
Q

offering new products to attract new
customers.
These opportunities are also known as “marketing growth
strategies.

A

diversification

76
Q

a contractual agreement where the franchisor
grants a franchisee the right to use its brand name,
marketing campaigns, and even operations support

A

franchising

77
Q

is the execution of marketing strategies
by the marketing department.

A

marketing implementation

78
Q

is concerned with controlling and
monitoring the implementation of these strategies.

A

marketing control

79
Q

consists of factors close to the
company that affects its ability to serve its customers.

A

micro-event

80
Q

shape the opportunities and threats
that affect a company’s operations

A

macro-eenvironment

1st Quarter lessons (8 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions