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Tracy Zhao
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Decks in this class (22)
AFM 191 - CHP. 1.1 - accounting standards
Define a private company,
Define a public company,
What s an example of a public fin...
55
cards
AFM 191 - Chp. 1.2 - intro to financial statements
What s the preperation order of f...,
W,
What s the period purpose and bas...
29
cards
AFM 191 - chp.1.3 - Private vs public companies
How do private companies go public,
How do most companies start as,
Define a privately held company
23
cards
AFM 191 - Chp 2.1 - source documents + capturing transactions
What s phrase cradle to grave in ...,
Define a transaction in accounting,
Define a business to consumer tra...
8
cards
AFM 191 - Chp 2.2 - organizing data + generating reports
Define an account in the context ...,
Define on account,
Define a chart of accounts
13
cards
AFM 191 - Chp 2.3 accural accounting + double-entry system
How does a company recognize econ...,
Define cash accounting cash basis...,
What are the problems with cash a...
8
cards
AFM 191 - Chp. 3.1 Accounting for Tangible long-term assets
Define an asset in aspe standards,
What s the following criteria tha...,
Define an expense
30
cards
AFM 191 - Chp 3.2 - Financing tangible long-term assets
How do private companies ontain f...,
Define working capital,
Define a line of credit
8
cards
AFM 191 - 4.1 how do companies make money?
What s the basic revenue equation,
Define revenue,
Why are businesses most concerned...
9
cards
AFM 191 - 4.2 - Intro to revenue recognition
What are the aspe revenue recogni...,
What s a mnemonic to remember the...,
What s the aspe criteria to recog...
4
cards
AFM 191 - 4.3 - Revenue recognition + timing of customer payment
What are the benefits of having m...,
How do businesses reduce risks of...,
What account do businesses create...
15
cards
AFM 191 - 5.1: accounting for inventory transactions
Define a merchandising business,
Define inventory,
How to recognize the cost of merc...
22
cards
AFM 191 - 5.2: preparing a gross margin income statement
Define product costs,
Why are product costs often refer...,
Define period costs
27
cards
chapter 6 - contirbution margin income statement - fixed costs, variable costs, mixed costs
Will i find a contribution margin...,
What s the formula and purpose fo...,
What s the formula and purpose fo...
36
cards
AFM 191 - Chp. 7.1 - Cost-volume-profit analysis
Define incremental analysis,
What s the decision rule to make ...,
What are the 2 approaches to find...
5
cards
AFM 191 - Chp 7.2 - Break-even and margin of safety
Define the break even point,
What is true at the break even point,
Why is the break even point usefu...
16
cards
Chp . 8.1 - understanding retained earning
Define retained earnings,
______ is the key link between in...,
Define accumulated deficit
10
cards
Chp.8.2 - current assets
Define liquidity,
What s the most liquid asset and why,
Define current assets
32
cards
Chp. 8.3 - long-term assets
What are some examples of tangibl...,
Examples of intangib,
What s something unusual between ...
23
cards
AFM 191 - chp 9 - current liabilities, long-term liabilities, shareholder's equity
Define liabilities under aspe,
What are the characteristics of a...,
Current vs long term liabilities
77
cards
AFM 191 - Chp 10 - Cash flow statement
Which stakeholders care about cas...,
Why is it important for a busines...,
What s the role of internal stake...
62
cards
AFM 191: chp 11 - preparing external financial statements + internal reports
How often do banks need external ...,
Why are internal reports implemented
2
cards
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AFM 191
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