Special Purpose Frameworks Flashcards
How to adjust prepaid insurance from cash-basis to accrual-basis
How to calculate accrual net income and the change in net income from cash to accrual?
What are the key rules for when cash-basis understates net income compared to accrual-basis for AR and Accrued Expenses?
How to calculate accrued interest payable when given interest expense and cash paid?
How do you adjust accrual-based sales to calculate cash basis sales? - adjustment method
How do you calculate cash basis sales using the T-account method?
How do you convert cash basis pretax net income to accrual basis pretax net income?
How do you adjust accrual basis net income to cash basis net income with prepaids and payables?
How do you calculate cash-basis income or loss from scratch
Converting Cash basis and accrual Basis blueprint
Converting cash and accrual expenses blueprint
How do you convert cash receipts to accrual-based revenue relative to the beginning and ending balances of accounts receivable and unearned revenue (contract liability)?
How do you convert cash payments to accrual basis expense (interest expense question)?
What is the general rule for converting accrual-basis revenue to cash-basis revenue with uneearned revenue
How do you convert accrual-based operating expenses to cash paid for operating expenses
Converting accrual basis net income to cash basis blueprint
Which method is used to record credit losses under the income tax basis of accounting, and why are the other options incorrect?
Which basis of accounting is NOT considered an Other Comprehensive Basis of Accounting (OCBOA), and why?
How do you calculate patient service revenue on an accrual basis when given cash collections, accounts receivable, and unearned fees?
Which title is NOT appropriate for financial statements prepared on the modified cash basis, and why?
How do income tax basis financial statements differ from GAAP financial statements?
Which statements about the modified cash basis of accounting are correct, and why?
1)The modified cash basis of accounting employs some elements of accrual accounting.
2)To be acceptable, modifications to the cash basis of accounting must have substantial support in practice.
When preparing financial statements using the cash or modified cash basis of accounting, which title is least likely to be appropriate, and why?
Are financial statements prepared on a cash basis modified to accrue income taxes in accordance with the modified cash basis of accounting? Why or why not?
What does substantial support require for modifications to the pure cash basis in the modified cash basis of accounting
How do you adjust cash receipts to calculate accrual-based revenue
