1. __________ is concerned with the acquisition, financing, and management of assets with some overall goal in mind. A. Financial management B. Profit maximization C. Agency theory D. Social responsibility 2.
c. U.S. Treasury bills. d. Banker’s acceptances. e. Money market mutual funds27. Money markets are markets for
a. Adjusted trial balance b. Comparative balance sheets c. Current income statement d. Additional information 4. The primary purpose of the statement of cash flows is to a. provide information about the investing and financing activities during a period. b. prove that revenues exceed expenses if there is a net income.
Critical Thinking Question: Answer the following questions: Why are noncash transactions, such as the exchange of common stock for a building for example, included on a statement of cash flows? How are these noncash transactions disclosed? These transaction do not trigger a direct inflow or outflow of cash and they are financial activity that need to be recorded. This type of transaction are disclosed in the reporting of non cash investing and financial activities. 2.
a. $0 b. $100 c. $200 d. $1,000 e. $1,200 4. To measure a firm's solvency as completely as possible, we need to consider a. The firm's relative proportion of debt and equity in its capital structure b.
Financial accounting information is used for a.|investment decisions.| b.|regulatory measures.| c.|stewardship evaluation.| d.|all of these.| ANS: D PTS: 1 DIF: Easy OBJ: 1-1 NAT: AACSB Communication 6. Which of the following is NOT part of the financial accounting information system? a.|filing reports with the SEC| b.|reporting a large contingent liability to current and potential shareholders| c.|determining the future cashflows of a proposed flexible manufacturing system| d.|preparing GAAP financial statements| ANS: C PTS: 1 DIF: Meduim OBJ: 1-1 NAT: AACSB Reflective 7. Which of the following does NOT describe cost management system? a.|evaluation of segments or products within the firm| b.|emphasis on the future| c.|externally focused| d.|focus on effective use of
The disclosure shows the loss contingency and states the estimate of loss. Before the company issues the financial statement and after the enterprise’s financial statement is done, the company can impair an asset or incur the liability. Disclosure of loss contingencies helps the company to keep its financial statements not being misleading. When the disclosure is necessary, the company must report the loss contingency in financial statements with a given estimate of the mount of loss. Reference Financial Accounting Standards Board (2010).Statement of Financial Accounting Standards No.
Key Success Factors Analysis v. Conclusion for External Analysis III. Positioning: Internal Analysis i. Company Value Chain ii. Current Financial Results iii. Key Financial Results Analysis iv.
LHDN.01/35/42/51/84 GUIDELINES FOR INCOME TAX TREATMENT OF MALAYSIAN FINANCIAL REPORTING STANDARDS (MFRS) 123: BORROWING COST 1. INTRODUCTION MFRS 123 Borrowing Cost shall be applied in the accounting for borrowing costs in general, except for borrowing costs incurred relating to the acquisition, construction or production of a qualifying asset measured at fair value (e.g. biological assets) and inventories that are manufactured in large quantities on a repetitive basis. 1.1 Definition of terms a. Borrowing costs are interest and other costs that an entity incurs in connection with obtaining loan.