Last Day Flashcards
IAS 7 Cash Flow Statements, is similar to the GAAP statement except that cash flows from extraordinary items are required…
To be disclosed separately under the categories
Under IFRS, cashflow from the acquisition of a subsidiary is…
Presented separately as an investing activity
Statement of changes in stockholder’s equity includes:
Column headings that…
Identify individual stockholder’s equity accounts
Statement of changes in stockholder’s equity includes:
Events changing…
Stockholder’s equity accounts
Statement of changes in stockholder’s equity includes:
The body of the statement presented in…
Terms of dollar impact of various transactions and events
Statement of changes in stockholder’s equity includes:
The impact of the transactions on…
The number of shares of stock, if any
Statement of changes in stockholder’s equity includes:
Ending balances that tie to the…
Items presented in the stockholder’s equity section of the
Balance sheet on the same dates
How do you compute the second quarter income tax expense?
Income tax expense 2nd quarter =
(1st and 2nd quarter Income before tax expense x tax rate)
- expense reported in 1st quarter
Options to purchase common stock are excluded from the computation of diluted EPS if…
Their exercise price is greater than the average market price
Options have a diluting effect when…
The avg. market price of common stock exceeds the exercise
Price
Stock based awards are included in diluted EPS even if…
Employee is not able to sell until future date
The SEC is leading IFRS adoption in…
The United States for publicly traded entities
Currently adoption of IFRS in not for profit voluntary health and
Welfare organizations is…
Voluntary
If IFRS was adopted by the SEC, what impact would it have on accounting for not for profit voluntary health and welfare organizations?
Voluntary health and welfare entities aren’t subject to SEC
governance so it will have no impact
If bond interest will be paid in January of the following year, in a city’s statement of revenue, expenditures and changes in fund balance of its governmental funds at the close of the September 30 fiscal year, what amount of bond interest must be reported?
$0, no bond interest becomes legally due (matures) during the year
