Study Guide Final Exam
Study Guide Final Exam ACC 201
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This 0 page Study Guide was uploaded by Petey Martin on Thursday December 10, 2015. The Study Guide belongs to ACC 201 at University of Rochester taught by WOJDAT K in Summer 2015. Since its upload, it has received 38 views. For similar materials see FINANCIAL ACCOUNTING in Accounting at University of Rochester.
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Date Created: 12/10/15
Petey Martin Outline ACC 201 Final Exam Study Guide Chapter 9b Introductory Accounting 0 Chapter 10 Introductory Accounting 0 Chapter 11 Introductory Accounting 0 Chapter 12 Introductory Accounting Review 0 Chapter 9b 0 00000 O O Liabilities re ect a rm s legal obligations Working Capital Management Current Liabilities Long term liabilities Many liabilities require signi cant estimates Contingent liabilities refer to potential but not certain m Obligations to leasing companies are sometimes recorded as liabilities discussion is to make this much more generally applied Deferred Taxes 0 Chapter 10 O O CO 0000 One way rms can obtain resources is to borrow from other parties Acquiring resources via borrowing offers some advantages and some disadvantages versus issuing ownership claims stock Disadvantages of debt vs equity Bonds are legally binding contracts requiring a borrower to make future payments to the bondholders lenders De nitions The indenture is the actual bond contract Bond Prices Accounting for bonds issued at par ie accounting when the stated interest rate equals the market interest rate Accounting for bonds issued at a discount accounting when stated interest rate is less than market interest rate Accounting for bonds issued at a premium ie accounting when stated interest rate is more than market interest rate When the coupon payment does not occur at year end the rm must accrue interest expense at year end equal to interest earned but not paid by year end 0000 0 Bond at discount or premium Zero Coupon bonds Bonds issued at par between interest payment dates Early Extinguishment of Debt Analysis 0 Chapter 11 0 00000000 COO 0000 The corporate form is one of a number of organizational structures that a business entity may adopt Common Stock Preferred Stock Primary vs Secondary markets Accounting for the Issuance of Stock Treasury Stock Dividends Preferred Dividends Stockholders Equity section of the Balance Sheet and Statement of Changes in Stockholder s Equity Stock Dividends Stock Splits Theoretically neither a stock dividend nor a stock split has any economic value to any stockholder Example Stock Dividend and Stock Split Ratio analysis Ratio analysis Stock Options from right after issuance of common stock section 0 Chapter 12 O O 0 An accounting statement reporting on cash ow is important Cash for accounting purposes includes physical cash on hand bank accounts and cash equivalents Statement of Cash Flows Changes in cash and cash equivalents are reported in three categories Cash ow from operations Indirect method of presenting Cash Flows from Operating Activities Income Gains Expense Reductions Expense Additions and Losses that have zero effect on Operating Activities cash ow Changes in current asset and liability balances affecting only cash ow from operating activities Additional Trick on Direction of Cash Impact Set up a journal entry of Sales or Expense Cash and Item of Interest Direct method Analysis Operating Cash Flow Cash Flow From Investing Activities OOOOO Analysis Investing Cash Flow Cash Flow From Financing Activities Cash Flow Analysis Example Noncash Investing and Financing Activities
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