Special Purpose Frameworks Flashcards
1
Q
How to adjust prepaid insurance from cash-basis to accrual-basis
A
2
Q
How to calculate accrual net income and the change in net income from cash to accrual?
A
3
Q
What are the key rules for when cash-basis understates net income compared to accrual-basis for AR and Accrued Expenses?
A
4
Q
How to calculate accrued interest payable when given interest expense and cash paid?
A
5
Q
What is the general rule for converting accrual-basis revenue to cash-basis revenue?
A
6
Q
How do you adjust accrual-based sales to calculate cash basis sales? - adjustment method
A
7
Q
A
