Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

MGST 217 > Review for Midterm > Flashcards

Review for Midterm Flashcards

1
Q

What does sumproduct use?

A

Arrays, choose a single column at a time

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

How to do questions that are like Add if >4

A

SUMIF Function

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

Two ways to do roots

A

^(1/2)

sqrt

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

What do countif and sumif add to regular functions?

A

Criteria

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

If you want to fill a series

A

Drag outside the selection!

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

Formula vs Function

A

Formula is +-/*
Function SUM PRODUCT

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

Cash Helper Formula

A

(total liabilities & Equities)-(total non current assets+ sum(current assets-cash))

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

Credit Card Formula WHAT TO REMEMBER!!!

A

Credit Card charges Revenuecustomers using credit card

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

Gst Paid

A

Sum(GST Eligible expenses)*GST

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

Gst payable

A

Collected GST-Paid GST

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

GST collected

A

Revenue*GST

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

REF

A

reference is invalid

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

NULL

A

WEIRD SPACE

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

N/A

A

No reference available

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

VALUE

A

wrong argument

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

####

A

Width is too small/wrong date or time

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

DIV/0

A

Division by zero or blank cell

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

NAME?

A

Formula not recognized

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

NUM

A

Non numeric data

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

If given data where a % is used for business questions!! BE CAREFUL BETCH!!!!!!!!!! MULTIPLICATION!!!!!!!!!!!!

A

PLEASE BE CAREFUL!!!!!!!!!!1 YOU MUST MULTIPLY IT EVERYWHERE!!!!!!!!!!!111

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

Prod cost formula
Fixed Cost formula

A

cost* quantity
cost*occurences (monthly or annual)

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

Accumulated CCA

How to get the actual non current assets value?

A

Both the CCA from Year One and Year two

subtract accumulated cca from non current assets!!!!!

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

Is retained earnings accumulated??

A

Yes! Add net income previous year+this year

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

For interest questions:
IF NEGATIVE?
Where do you get this value?

A

Put a MINUS sign to make negative positive

LOAN WORKSHEET USUALLY look at THE INTEREST PAYMENT COLUMN

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
RCGONeTN
Revenue-Cogs= Gross profit Gross profit- operating expenses (fixed costs)= Net income before taxes [EBITDA] EBITDA- sum(interest depreciation ammortization)= ebt Net income before taxes-Tax= Net Income
26
EBITDA formula
Gross Profit-Operating Expenses
27
EBT Formula
EBITDA-(intersest+depreciaiton+ammortization)
28
Percent of Revenue
cell w value your determining/Revenue
29
how to use percentage of revenue
Example: COGS Y1*Percent of revenue CREDIT CARD CHARGES*Percent of revenue
30
Year to Year growth
Current/Old-1 NO BRACKETS
31
What is Net Sales?
Revenue
32
Accounting Formula
Assets=Liabilities+Equities
33
what is Implied volume -calculated sales based on this? -Actual Sales? -is there rounding?
This is pro-forma like inferencing the future volume so its like a guess (previous years volume * expected growth rate!!!) -IMPLIED VOLUME*PRICE -Must use an if statement bc youre guessing and dont wanna be inaccurate SOOOO =IF(implied volume
34
Retained earnings?
Net income (Profit) of current year + Retained earnings from previous year
35
Shipping formula
SHIPPING*VOLUME
36
5 RATIOS5
Profit Margin Current Ratio Debt Ratio Debt to Equity Ratio Asset Turnover
37
profit
revenue-costs
38
how to calculate NON CURRRENT ASSETS WHEN GIVEN ACCUUALTED CCA!!!!!
EQUIPMENT- ACCUMULATED CCA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!111
39
"payable"
owing
40
current assets
assets that will be liquid in one year
41
non-current assets
things that will be not liquid for a while EQUIPMENT!
42
VLOOKUP FORMULA
=(cell w info, chart ABS REF, column in range you wana get)
43
HLOOKUP
=(cell w info, chart ABS REF, row in range you wana get)
44
HLOOKUP
=(cell w info, chart ABS REF, row in range you wana get)
45
What is Goalseek
Trial and error speedrun
46
Goalseek sections
set cel: which cell has the val you wanna change!!! to value: integer that you want set cell to be by changing cell: which cell is gonna change for this to happen
47
Profit Margin Ratio
Net Income/Sales PROFITABILITY
48
Current Ratio
Current Assets/Current Liabilities LIQUIDITY
49
Quick Ratio
Current Assets-Inventory/Current Liabilities LIQUIDITY
50
Debt Ratio
Total DEBT/Total Assets LEVERAGE OR DEBT RATIOS
51
Debt to Equity Ratio
Total Debts/Equity Leerage or Debt Ratios
52
Asset TURNOVER
Net Sales/Total Assets REVENUE/TOTAL ASSETS Activity/Efficiency Ratio
53
4 types of ratios
profitability- profit margin Liquidity- current ratio/ quick ratio leverage or debt ratios- debt/debt to equity Activity/Efficieny- Asset Turnover
54
do you roundup or down in implied volume
DOWN bc you want full customers
55
Breakeven sales?
Price*Breakeven points volume
56
What formula always used in breakeven
Rounddown
57
Year to Year growth rate?
(Current Year/Previous Year)-1
58
gst relation? PCO WHY?
GST paid-GST Collected=GST owing -Paid is first because Revenue GST is gonna be so HIGH! Because you earned a lot of $$$ -Collected will be lesser bceause not all costs are GST eligible
59
Balance Sheet; CCA section with Non-Current Assets 3
1. Be careful with the acquisitions of different classes! USE ROWS 3&4 for their data!!! (the untouched cells) Formula: (Last years acquistion+this years acquisition-this years disposition) 2.Accumulated CCA: LESS!! and also ACCUMULATED (add up every year as you go along) USE ROW 8 FOR ITS DATA Formula: (Last years CCA + this years capital cost appreciation) 3. Subtract accumulated CCA from the value you got in the first row of acquisiton/disposition cells
60
what are TWO SECTIONS YOU HAVE TO BE CAREFUL OFF?????
BALANCE SHEET CCA SECTION (3 POINTS) INTEREST!!! (-)
61
INTEREST HOW DO YOU DO
ITS always positive; so in Income statement put =-Interest to make positive!!!
62
How to do Break evens? why volume?
1. Make a new sheet for break even (Copy income statement) 2. Erase ONLY the volume cells for Breakeven Year!!!! 3. use goal seek Set cell=net income to= 0 by chanigng cell= volume 4. whatever you get copy into breakeven volume section! USE FORMULA ROUNDDOWN =ROUNDDOWN(volume,0) 5. Get Breakeven Revenue by multiplying Breakeven volume by price 6.Copy JUST these numbers onto original sheet and youre done!!! ----------------------------------------------------------------- bc this is the variable

MGST 217 (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions