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Exam 1 Study Guide (Ch. 14-16)

by: Libby Bullerdick

Exam 1 Study Guide (Ch. 14-16) ACCT211

Marketplace > University of South Dakota > Business > ACCT211 > Exam 1 Study Guide Ch 14 16
Libby Bullerdick

GPA 3.69

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About this Document

First chapters in the second accounting book chapters 14, 15, and 16
Dr. Korte
Study Guide
business, Accounting, Managerial Accounting Notes, financial accounting
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This 2 page Study Guide was uploaded by Libby Bullerdick on Friday September 16, 2016. The Study Guide belongs to ACCT211 at University of South Dakota taught by Dr. Korte in Fall 2016. Since its upload, it has received 43 views. For similar materials see Accounting in Business at University of South Dakota.


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Date Created: 09/16/16
Accounting Exam 1 Study Guide Chapter 14, 15, & 16 Chapter 14  Define: o Assets o Current Assets o Liabilities o Current Liabilities o Revenues o Expenses o Dividends o Owner’s Equity o Accumulated Depreciation o Depreciation Expense o Free Cash Flow  Definition and the formula o Statement of Cash Flows  Know the 3 main types of cash flow activities and what each is composed of o Operating, financial, and investing Chapter 15  Know formulas for: o Horizontal Analysis % o Trend % o Vertical Analysis % o Working capital  Current Ratio  Cash Ratio  Quick Ratio (aka Acid Test Ratio)  Know the 5 formulas to measure the ability to sell merchandise inventory & collect receivables o Inventory Turnover o Day’s Sales in Inventory o Gross Profit % o Accounts Receivable Turnover Ratio o Day’s Sales in Receivables   Define: o Working capital  Know the 3 main tools based on working capital  Know the 3 main ways to analyze financial statements o Horizontal, vertical (common size), and ratio  Chapter 16  Define: o Cost o Period Cost o Product Cost o Direct Cost o Cost Object o Indirect Cost  Know the 3 categories of Product Cost  Key Formula for Merchandise companies and manufacturing companies


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