FAR-Becker Flashcards
Should int or adv exp be included in G/A exp?
No, int exp is a separate line item and adv exp is selling exp
How to calculate insurance proceeds?
Replacement costs-deductible clause
Impairment loss test under GAAP
- Impairment = NCV>undisc CF expected
2. Impairment loss = NCV-FV (disc future CF)
Cost incurred to maintain goodwill must be expensed/capitalized under IFRS and GAAP?
Expensed
Research costs must be expense/capitalized under IFRS and GAAP?
Expensed
How is goodwill calculated?
Excess FV (purchase price/% acquired) over FV of net assets
SYOD method
(Cost-SV)*remaining life/SOYD
Cash proceeds from issuance of convertible bonds should be reported as?
A liab for entire proceeds (NO accrued int)
Lease pmts should be reported in SoCF as?
- Cash pmt to reduce debt principal = financing
2. Cash int pmt = operating
Routine employer contributions from general fund to pension trust fund would be accounted for as _ in general fund
Expenditure
Transfer from general fund to any other fund would be classified as _
Other financing uses
Proceeds from issuance of general debt obligation bond would be accounted for as _
Other financing sources (face amount +/- disc/prem); related transaction costs (eg underwriter’s fees) = debt service expenditure, NOT netted against debt proceeds
Statement of activities is?
Govt-wide FS to report rev/exp for biz-type activities (enterprise fund)
Primary purpose of statement of activities of non-govt NFP org?
Report rev/exp, G/L, and reclassification between classes of net assets
Primary purpose of statement of financial position of non-govt NFP org?
Report assets, liabilities, and net assets as of a specific date
Revolving debt financing and gains on sale of assets are included/excluded from income-OCF recon
Excluded. They are non-operating items.
Support services for a non-govt NFP org includes?
G/A costs, cost of membership development, and fundraising
Fundraising exp for a non-govt NFP org includes?
Maintaining a donor list for contributions (to get them to donate more money)
G/A costs for a non-govt NFP org includes?
Soliciting membership dues (admin collection function).
Cost of membership development for a non-govt NFP org includes?
Soliciting prospective members and printing membership benefits brochures
Level 1 inputs of measuring FV of A/L are?
Quoted prices in active market for IDENTICAL assets/liabilities when no adjs required
Level 2 inputs of measuring FV of A/L are?
Quoted price in active market for SIMILAR assets/liabilities
Level 3 inputs of measuring FV of A/L are?
Inputs based on reporting entity’s internal data
Rev are inflows or ___ resulting from entity’s ___ ops
Enhancements of assets (inc)/settlements of liabilities (dec); major ongoing, NOT incidental
Under GAAP, public companies FS must report segment info about a company’s major customers if that customers provides ___
10% or more of COMBINED revenue (internal and external) of ALL operating segments
Under equity method, div received is ___ .
Reduction in carry amount of inv
Under cost method, div received is ___ and ___ inv acct
Income; does NOT affect
Under equity method, any GW created in inv acct is ___.
Ignored (neither amortized nor tested for impairment)
Purchased GW is ONLY tested for impairment in ___
Acquisition of controlling int (> 50%) of another co
JE for temp unreal loss on AFS securities
Dr. Loss-OCI
Cr. Valuation account (contra)
Subsequent recoveries = reversal of JE
JE for perm real loss on AFS securities
Dr. Loss-IS
Cr. Cost of security acct
Calculation of int cap
WAAE (expendituremo o/s/12 mo)loan int
JE for collection of amt previously written off under allowance method
Dr. Cash
Cr. AFDA
G/L on bond re-acquisitions/retirements is reported in ___
Income from continuing ops
Overfunded pension plans are reported as _ on BS
NON-CURRENT asset
Instead of being used in CF recon, int paid would be _
Disclosed in supplement section of SoCF
Increase in lease payable (non-cash) would be _
Disclosed in supplemental schedule of non-cash investing/financing activities
Purchase of BP is _ activity
Investing; it represents inv in the debt of other.
Proceeds from issuance of LT debt is _ activity
Financing
Payments on LT debt is _ activity
Financing
SoCF must be presented for all _ funds as part of a set of FS
Proprietary (eg public benefit corp., govt utilities)
Equity section in proprietary funds are called _
Net position (= fund equity)
Equity section in govt funds are called _
Fund balance
Property taxes and fines are examples of _ rev.
Imposed non-exchange
Sales tax and income tax are examples of _ rev
Derived tax
Environmental clean up is example of _
Govt-mandated non-exchange transactions that compel the collection of rev for certain activities
In statement of activities for a non-govt NFP org, all exp are reported as _
Decrease in unrestricted net assets
Budgetary comparison schedules must show (4); _ are optional
Org budget, final amended budget, actual amt, variance computations; process descriptions
Most common functional classifications for non-govt NFPs are (3)
Program services, fundraising, mgmt/general
Interfund reimbursement receipts are _ CF
Operating
Operating transfers out are _ CF
Net non-capital financing
Capital outlay for water plant improvements are _ CF
Capital and related financing
Under IFRS, what happens when a revalued asset becomes impaired?
Reduce any revaluation surplus to 0 on OCI and remaining impairment loss on IS
What info should a public company present about rev from its reporting segments?
SEPARATE disclosure of amt of sales to unaffiliated customers and intracompany sales
What doc is used as part of due-process activities of FASB for amending FASB codifications?
A proposed accounting standards update
Gain in transaction that LACKS commercial substance?
Cash received=proportional gain to cash received; cash given=NO gain
Stock div on CS should/should not be recorded at FV under cost/equity method?
Should NOT be under either
Trading securities are reported at _ w/ unreal G/L included in _
FV; IS
DDB method
(Cost-AD)* 1/N *2
Adj cash bal = unadj cash bal _
+/- Bank errors, + int earned (credit memo), -ervice charges (debit memo)
Applying LCM to _ results in lowest inv amt
Separately to EACH item, NOT groups of similar items
What characterizes convertible debt under GAAP?
NO value is assigned to conversion feature b/c it cannot be sold/transferred separate from bonds
Investor has incentive to convert convertible bonds to equity when value of stock received is _ than market value of debt
Greater
_ are not required for contingent shares
Cash consideration, such as shares issuable upon exercise of stock option
(3) are included in introductory section of local govt’s annual report
Letter of transmittal, org chart, list of principal officers
Cash equivalents include highly liquid items that mature within _ of acquisition
3 mo
Company’s 1st IFRS FS are required to include _BS, _SoCI, _IS, _SoCF, _ stmt of changes in equity, and _
3-2-2-2-2, explicit stmt re: compliance w/ IFRS
A derivative designed as FV hedge must be (4 criteria)
Specifically identified to hedged A/L/unrecog firm commitment; highly effective in offsetting changes in FV of hedged item (effectiveness is assessed every 3 mo);
normal documentation of hedging relationship btw derivative and hedged item; hedged item presentes exposure to changes in FV that could affect income
Cost associated with exit/disposal activities is _
Costs to relocate ee
Assets being actively marketed for sale will be valued at LOWER of _
BV or NRV (=FV-costs to sell)
**Remember: they will NOT be valued at HC and they will NO longer be depreciated
Dep calc should be based on _ less _
FV (= cash equivalent price = cost), SV
Periodic/market/effective int rate on bond = _
Int exp/NCV of bond at BOP
Coupon/stated int rate on bond = _
Cash (int) actually paid/bond face amt
Market value of bond issued at a disc/prem is _ plus _ at _
PV of principal amt, PV of all future int pmts, market (effective) int rate
Current portion of provision of income taxes = _
Income tax payable (TI*CY’s effective income tax rate)
Ee’s compensation for future absences/vacations should be accrued if (4 criteria)
Services ALREADY rendered (they’ve worked), amt can be REASONABLY ESTIMATED, obligation relates to VESTED accumulative rights, pmt of compensation is PROBABLE
Div paid is _ CF
Financing
Financing activities include _
Getting funds from investors and providing them w/ return on/of their inv, eg paying div
Basic EPS = _
(NI-cum. PS div)/WA CS o/s
Exception to GR of expenditure accrual for govt funds under modified accrual basis relates to _
Treatment of int and principal pmts for LT debt; they are recorded when they become due/payable (GR: expenditures are recog when incurred b/c measurable)
Est rev control account is eliminated when _
Budgetary accts are closed
Donated capital assets to a govt unit are recorded at _
Est. FV when received (as if they had been purchased)
___ accounts for assets that have been internally designated by institution for a specific purpose
Quasi-endowment fund
Quasi-endowment fund would be displayed as _ net assets.
UNrestricted
A component unit uses BLENDED presentation when _
Board of component almost same as that of primary govt, component unit serves primary govt exclusively, component unit is NOT a separate legal entity
A component unit uses DISCRETE/SEPARATE presentation when _
Criteria for blended presentation are not met (discrete presentation=most common)
Test of component unit (SELF)
Separately-elected governing body, legally separate, financially independent of state and local govt
G/L on trouble debt restructuring = _
Debt amt cancelled-FMV of asset exchanged (CV of asset is adjusted to FV); ordinary G/L
Warranty costs are recognized when _
Sold, at the date of sale b/c they are probable and estimable
According to FASB and IASB, fundamental qualitative characteristics of useful financial info are _
Relevance, faithful representation
To be RELEVANT, financial info must have _
Confirmatory value, predictive value, materiality
To FAITHFULLY REPRESENT, financial info must be _
Complete, neutral, free from errors
Comprehensive income DOES NOT include _
Owner transactions/investments by/distributions to owners, such as div paid
R/D costs are _ unless they _ or _
Expensed when incurred, have alt uses, are reimbursable by others
Under cost method, div are recorded as _ by investor
Income
Cost basis inv is reduced ONLY IF _
Cum div>cum earnings (= return of capital), shares of stock are sold, sub incurs material losses that hugely reduced net worth
Acquisition method requires that _ of sub’s assets FV be recognized
100%.
Cost method = _%
20 (NO consolidation)
Equity method = _%
20-50 (NO consolidation)
Acquisition method = _%
51-100 (Consolidate sub at 100% FV at acquisition date)
What is generally associated with terms of convertible debt securities?
LOWER int rate than that of NON-convertible debt b/c of value of conversion feature
Increase in prepaid insurance would cause DTA/DTL
DTL b/c deductible now (paid) but taxable later when expensed on books
Increase in rent receivable would cause DTA/DTL
DTL b/c taxable later when money is received
Increase in warranty obligations would cause DTA/DTL
DTA b/c/ deductible when paid later
_ issued by a public company should be reported on issuer’s books as a LIABILITY on date of issuance
CS w/ UNconditional redemption feature (b/c obligation of not preventable CF in future)
Activities are required to be reported as an ENTERPRISE fund if _
Pricing policies establish fees/charges to recover costs (required by laws/regulations), financed w/ debt solely secured by rev from fees/charges
JE when taxpayers are billed for property taxes
Dr. Property tax receivable
Cr. Rev (net of est. uncollectible)
Est rev are _ when est rev and appropriations are closed at fiscal YE
Credited
Inv, prepaid expenditures, or resources that are legally/contractually required to remain whole (eg permanent fund capital) are considered _
Non-spendable
Non-capital financing activities include _
Borrowing for non-capital purposes, CR from grants/subsidy (eg operating grant)/property taxes
Unassigned/unencumbered fund balance in general fund would be increased by _
Appropriations (approved spending/est expenditures) over actual expenditures
Recipients that do not have _ would recognized assets received as a _ to beneficiary
Variance power to determine use of funds received, liability
Govt activities column in govt-wide FS includes data from _ funds
GRaSPP and S (internal service from proprietary fund)
Conditions that did not exist and occurred after BS date are _ and they are _ on FS
Non-recognized subsequent events, NOT accrued/DISCLOSED in notes to FS
Temp market declines in inv are recognized/not recognized at interim when turn-around can be reasonably expected to occur before YE.
NOT recognized
G/L on abandonment of equip is reported in _
Income from continuing ops
Officer’s compensation exp include _.
Salary accrual, bonuses not yet paid
Cost recovery method is used when _
There is no reasonable basis for estimating collectibility
Changes in current cost of non-monetary assets (ie equip/land) are NOT included in _ but are classified as _ in current cost stmts
Current cost income from continuing ops, holding G/L
NCI calc under IFRS PARTIAL GW method
NC=FV of sub net assets*NCI% (Remember: partial=>sub’s net assets)
NCI calc under IFRS FULL GW method
NCI=FV of sub*NCI% (Remember: full=>entire sub)
GW calc under IFRS partial GW method
GW=acquisition cost-FV of sub’s net assets acquired (Remember: partial=>net assets acquired)
Under IFRS full goodwill method, goodwill is calculated:
Goodwill = FV of sub - FV of sub’s net assets
Remember: full => sub’s entire net assets
In biz combo accounted for under acquisition method, registration/issuance costs are _
Direct reduction to value of stock issued by reducing APIC
In a biz combo accounted for under acquisition method, direct out-of-pocket costs (ie legal/consulting fees) are _
Expensed
JE for biz combo accounted for under acquisition method
Dr. Inv in acquired biz
Dr. Out-of-pocket expenses (ie legal/consulting fees)
Cr. Cash (registration costs+out-of-pocket costs)
Cr. CS (issued shs*par value)
Cr. APIC (value of market>par * shs-registration costs)
Cash in money market account is included in _
Cash/equivalent (Remember: it’s STILL cash)
Under GAAP and IFRS, bond issuance costs _
Reduce cash proceeds from bond issuance b/c they are netted against disct/prem and deducted from CV of bond
Life insurance premiums are _
Non-deductible, they are added back to arrive at TI
Municipal bond income is _
Non-taxable, they are subtracted to arrive at TI
Effective tax rate = /
Income tax exp (from TI)/Pretax income
Determine current/non-current liabilities of pension plan
CL=payable in 12 mo-FV of plan assets; non-CL=rest
When computing OCF, inc/dec in AFDA is _
Added/subtracted from NI (same direction)
Diluted EPS = /
(Income avail to CS shareholders+after-tax int exp)/WA # of shares o/s after conversion
After-tax int of dilutive securities = _ +/- _ * _
Int pmt on debt (face amount*stated int rate), disc/prem amort, (1 - tax rate %)
For capital projects fund, grants received are recorded as _
Revenue
For capital projects fund, transfer from general fund are recorded as _
Other financing sources
For capital projects fund, proceeds from general obligation bonds issue are recorded as _.
Other financing sources
Wages/salaries is example of program/function/activity/object classification
Object (= CoA titles)
Program classification groups _
Activities/ops/org unit directed to specific purpose/objectives
Function classification groups _
Activities aimed at accomplishing major service/regulatory responsibility
Activity classification provides _
Data for calculating expenditures per unit of activity, or specific/distinguishable line of work performed by org unit.
Fund acctg nables services/mission-driven orgz to monitor compliance with _
Spending PURPOSE (LEGAL restrictions), spending LIMITS (FINANCIAL control), other fiscal accountability objectives
T/F: Under GASB 34, budgetary comparison schedule must include either GAAP or budgetary presentation formats/basis of accounting
T, any format or basis of acctg may be used to present budgetary comparison schedule as long as a recon to GAAP is also prepared
Compute gain on restructuring for trouble debt restructuring involving only a modification of terms
Gain=CV of debt-total FUTURE cash pmts
Interim FS filed with SEC would NOT include _
SoCF for most recent fiscal qtr
Interim FS filed with SEC would include _
SoCF for PY YE-most recent fiscal qtr, SoCF for cum 12 mo b4 most recent fiscal qtr
Internally created GW is _
Expensed (eg hiring/training ee)
Intangible asset is amortized over legal remaining life/ability to renew indefinitely
Indefinite life, so NO amortization
Ending FV of plan assets is calculated as
Beg FV of plan assets+contributions-benefits paid +return on plan assets
Calc of TS-related APIC under cost method
(Reissuance price-bought back price)*# of shares reissued
Property taxes are recognized _ regardless of acctg basis
Net of uncollectible
_ is most restrictive classification of govt fund bal
Committed
Basic criteria used to determine reporting entity for a govt unit include _
Financial interdependency, selection of governing authority, designation of mgmt, ability to significantly influence ops, accountability of fiscal matters (financial accountability)
Under IFRS, exchanges of dissimilar assets are regarded as exchanges that _ and _
Generate rev, all G/L losses are recognized
Inv costs include _
Purchase price, freight-in
Selling exp includes _
Freight-out, salaries/commissions, adv
G/A expense includes _
Officers’ salaries, acctg/legal fees, insurance
To correct inv NOT included from prior period, RE must be _
Increased by understatement amount, net of tax
Org costs are ___ under GAAP
Expensed when incurred
Dist on BP is ___ from CL
Deducted
Income taxes VA: ___ should be recognized in income from continuing ops in period of change
Effect of change in opening bal of VA/potential realization of DTA from change in circumstances
Required FS for biz-type activities (eg enterprise funds) are _
Stmt of net position (BS), stmt of rev/exp and changes in net position (IS), SoCF, footnotes, MD/A, RSI
JE for acquisition of FA through capital lease of govt unit
Dr. Expenditure-capital lease
Cr. Other financing source-capital lease
FV hedge is recorded on _
IS
CF hedge (effective) is recorded on _
OCI
GAAP does NOT require intraperiod income tax allocation to _
Operating income
GAAP requires intraperiod income tax allocation to (name 3)
Income from continuing ops, discontinued ops, retroactive acctg principle changes
NI or RE will _ through TS transactions
Never be increased
Calc of G/L on disposal of asset (thru property div)
(FV of property div-BV of property div)*shares declared
Amort of bond disc is _ CF
Operating
Under IRC Sec. 457, deferred compensation plans for non-proprietary fund ee’s should be reported in _ fund
Pension (and other ee’s benefits) trust
___ is NOT a valuation technique used to measure FV of A/L
Impairment approach
Valuation techniques used to measure FV of A/L are (name 3)
Market, income, cost approach
Market approach uses _ to measure FV of A/L
Price/other market info from identical or comparable A/L
Income approach uses _ to measure FV of A/L
Discounted future CF or earnings
Cost approach uses _ to measure FV of A/L
Current replacement costs
Depreciable property constructed on leased land is depreciated over _ of _ or _
Lesser, term of lease, life of property
Net pension G/L are required to to be reported in AOCI until _
Recognized in net periodic pension cost through amortization
JE for CY amort of net pension gain
Dr. OCI
Cr. Net periodic pension cost
Dr. Deferred tax expense-NI
Cr. Deferred tax expense-OCI
Proceeds from sale of TS is _ CF
Financing
Interim income tax expense =
YTD income*est annual ETR-tax expense recognized in previous interim periods
Patent is capitalized and amortized over
Lesser of legal life or economic life
Asset’s cash equivalent price is its
FV
When nonmonetary asset is exchanged for another nonmonetary asset for a loss, loss is
Recognized immediately b/c asset received should NOT be valued at more than their FV (cash equivalent price); value of asset received=BV of asset given up-cash received+cash paid-loss recognized
Combined FSs would be most appropriate for
Several corps owned by 1 individual
Consolidated FSs would be most appropriate for
Parent and sub
Consolidated FSs are prepared when one company has a controlling financial interest in another unless
Sub is in legal reorg or bankruptcy and/or sub operates under severe foreign exchange restrictions, control, and other govtally imposed uncertainties so severe that they cast significant doubt on parent’s ability to control sub
Quick ratio =
(Cash+net AR+marketable securities)/CL
Aggregate amt of pmts to be made on UNconditional purchase obligations should be disclosed (in a FN to FS) for each of
5 years following date of latest BS
Under IFRS, past service cost is recognized
In period of plan amendment on IS (unlike GAAP, it is NOT reported in OCI therefore recognition in future periods thru amort is NOT required)
Basic EPS from income from continuing operations and NI are presented in
Simple capital structure
Basic AND diluted EPS from continuing operations and NI are presented in
Complex capital structure
When acquired, equipment, facilities, and services purchased previously included in est total current cost of closure and post-closure care should _ in govt-wide FS
NOT be reported as capital assets but as reduction of accrued liabilities in general LT liabilities
Any debt that is to be repaid from general resources should be recorded as
General LT liabilities in govtal activities column of govt-wide stmt of net position (BS)
Contributions from general fund to other funds are recorded as
Expenditure, NOT transfer out
Internal transfers are (usually?) classified as
Noncapital financing activities
2 inherent risks of int swap contracts are
Risk of exchanging a lower int rate for a higher int rate (market risk) and risk of nonperformance by counterpart of agreement (credit risk)
Segment _ is NOT reported under IFRS nor GAAP
CF
Equity instruments issued for ee services are to be valued at date of
Grant
Is bond prem/disc amortized in govt funds?
No, since measurement focus is sources and uses of financial resources
When collectibility is reasonably assured, excess of subscription price over stated value of no par CS subscribed should be recorded as
APIC when subscription is recorded/received
Loss from discontinued operations include
Operating loss, gain from sale of operation, related exit and disposal costs (ie, ee termination benefits, cost to terminate operating lease)
To be significant enough to report on, a segment must be at least 10% of
- Combined revenues (intersegment or affiliated customers) 2. operating profit (of all segments not having operating loss), or 3. identifiable assets
Only sinking fund accounts (or the portion thereof) that are considered _ can be included within CA
To offset current bond liabilities
Fund structure of a govtal entity and number of funds used is a matter of
Judgment, min number of funds consistent with legal requirements and sound financial administration should be set up
Basic FSs and RSI for general purpose govts should consist of
MD&A, basic FSs, and RSI
Assets obtained thru capital lease should be reported in govt-wide stmt of net position as
General capital asset (as an asset and liability in full accrual acctg). In comparison, the asset would be recorded as expenditure and the lease as other financing source under modified accrual acctg
Liquidation basis of acctg is applicable to
Public, private, and NFP entities
Segment _ is NOT reported under IFRS
CF
What conditions must exist for impairment loss to be recognized under GAAP?
- CV > FV 2. CV is not recoverable (FV would be recoverable but difference would not be)
Stock rights should be allocated between stock and stock rights using
Pro rata allocation based on relative FV of stock and stock rights (times value of stock purchased)
What supports interperiod equity as a financial reporting objective of a govtal fund?
Adoption of a balanced budget
Estimated revenues for general fund would include _
Property taxes, license and permits, intergovtal revenues (transfer in from other funds would be considered estimated other financing sources)
CR from grants or subsidies, property taxes are classified as _
Non-capital financing activities
Debt security registration costs are
Capitalized and amortized
What is factoring receivables?
Converting receivables to cash by assigning them to a factor, either with or without recourse
Treatment of profit/loss on sale/leaseback of capital lease?
Deferred and amortized in proportion to depreciation taken on leased back asset (asset VA)
Under GAAP, amortization of unrecognized prior service cost is calculated by
Assigning equal amount of cost to future periods of service of each ee (over average service life of however many ee accounted for) at plan amendment date
Where is internal service funds usually reported?
Govtal activities column of govt-wide stmt of net position and stmt of activities since they are generally established to service govtal funds
Contributions to NFP include transactions which are _
Unconditional (not requiring a future event to occur), non-reciprocal, voluntary, and not of an ownership investment
Govt-wide FS classification of net assets are
Net investment in capital assets, restricted, and unrestricted
NFP classification of net assets are
Permanently restricted, temporarily restricted, and unrestricted
Major fund for purposes of fund FS presentation means that it has to be _
Both 10% of its FUND category’s assets/revenues/expenditures/expenses, or 5% of COMBINED govtal and enterprise assets/revenues/expenditures/expenses
General fund is always a _
Major fund
How should acquirer recognize a bargain purchase in a biz combo?
Gain in earnings at acquisition date (it’d be goodwill in statement of financial position when amount paid for net assets > FV of net assets acquired)
What is included in both cost and retail amounts of COGAFS under retail inventory method ?
Purchase returns (only in cost: freight in; only in retail: sales return and net markups)
Occupancy expense includes
Rent expense (includes amortization of lease bonus over life of lease) and depreciation of leasehold improvements over shorter of improvement life or lease term
Pension related items on AOCI that increase pension expense are _
Unrecognized prior service cost, transition obligations, net losses (recognized through amortization into net periodic pension cost-DR to AOCI)
Pension related items on AOCI that decrease pension expense are _
Unrecognized transition assets and net gains (CR to AOCI)
Treatment of TS “gains and losses”
Corporations are not allowed to report IS gains and losses from TS transactions; they are direct adjustments to SHE (gains-CR to APIC-TS; losses-DR existing APIC-TS to 0 then RE)
All TS transactions _ total equity
Decrease
For NFP, non-operating income items, such as _, are excluded from reconciliation from net income
Revolving debt financing (“current portion of bonded indebtedness”) and gains on sale of assets
For NFP, operating income items, such as _ , are included in reconciliation from net income
Interfund receivables for services (“amounts due from other funds”)
NFP investments in debt securities are displayed at _ at YE
FV (“quoted market price”)
_ would be used to determine a segment’s operating income
Sales to other segments (NOT income tax expense, G/L on discontinued operations, general corporate expenses, or equity in NI of another company unless they are included in determining segment profit reported to Chief Operating Decision Maker)
