FAR F.1 Flashcards
F.1
Accelerated Filers for the 10-Q are aloud how many days after period end to submit?
Accelerated and Large accelerated filers are due to turn in a 10-k within 40 days from period end
Form 10-K Deadline Form 10-Q Deadline
Large Accelerated Filer ($700MM or
diluted earnings per share
NI-PD/weighted average of dilutive common shares
reissuing treasury stock using the cost method
Debit Cash
Credit treasury stock
Credit additional paid in capital
Cash XX
Treasury stock. XX
Additional paid in cap XX
Maximum number of days an accelerated filer has after a company’s fiscal year end that the company has to file the form 10-k with the SEC
An accelerated filer is a company with $75 million or more
under the SEC reporting requirements for greater than or equal to 12 months
previously filed at least one report
Not elligable to file a 10-QSB and 10-KSB
How to calculate the other comprehensive income
operating income-interest expense-taxes+ income from continuing operations-/+discontinued operations loss or gain+ other comprehensive in come=total comprehensive income
how to calculate other comprehensive income
deferred gain on cash flow hedge+foreign currency gain(or loss) Less prior service cost such as pension costs
When are foreign exchange gain and losses recorded
They are recorded at year end. spot rate less spot rate at year end to determine gains or losses. even if the transaction actually occurs in the following year.
Basic and dilutive earnings per share
Income available to stockholders/weighted average number of common shares outstanding
How should the effect of a change in accounting principle that is inseparable from the effect of a change in accounting estimate be reported?
Overall it is treated as a change in estimate. The effect is reported prospectively as a component of income from continuing operations.
What should the interest be for a note receivable that has already had principle paid on it?
You take the original amount less principle paid and then multiply by the percentage.
Accrued salaries expense during the year=
Beginning balance ( accrued sal payable) +salaries expense during the year-salaries paid during the year.
days salEs in Accts Rec.=
ending accounts rec(net)/(net sales/365)
EAR/NS365
Return on Assets
NI/ATA
A change in accounting estimate should be accounted for how?
In the period of change and future periods if the change affects both
What are the levels of inputs in the fair value hierarchy?
Level1: quoted prices in active markets identical assets and liabilities most reliable when available
Level 2: inputs other than quoted markets, directly or indirectly observable; similar assets in active market quotes, not active market similar assets quotes, ECT.
Level 3: unobservable inputs these are assumptions.
