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This is the practice of recording and reporting commercial transactions for management so that they can see how well a company is doing against expectations.
It is a written pledge that the customer will pay the business a fixed amount of money on a certain date.
Assets are items that have economic value to a company.
Equity consists of all the investments made into a company over the years - usually in the form of capital or shareholder's investments and retained earnings
It deals with flow of cash which includes cash equivalents as well as cash.
This statement is an additional information to the users of Financial Statements.
Assets refer to resources owned and controlled by the entity as a result of past transactions and events, from which future economic benefits are expected to flow to the entity.
Cash Flow Statement deals with flow of cash which includes cash equivalents as well as cash
It is very useful in the evaluation of cash position of a firm.
A share may have a face value, which is known as its
Materials, labor and overhead costs are compiled in aggregate for an entire production process, and are thenallocated to individual production units.
For the sake of tax efficiency, many shareholder distributions take the form of __ dividends executed as part of share repurchase programs.
Asset plays a very important role in the economic life of a business.
This principle states that acquired assets should be recorded at their actual cost and not what management thinks they are worth as at reporting date.
It plays a very important role in the economic life of a business.
During times of __, the dividend might create a sort of floor underneath a stock that keeps it from falling as far as non-dividend paying companies.
It is the type of costing system where in the Materials, labor, and overhead costs are compiled for an individual unit or job. This approach works best for unique products, such as custom-designed machines or consulting projects. The cost accumulation process is highly detailed and labor-intensive.
It is the centre of all financial decisions.
Dividend income is __.
__ has special rights, which can vary by class of preferred stock.
A company must have a registration statement approved by the Securities and Exchange Commission before the restriction can be removed from the stock certificate, which enables the stockholder to sell his shares.
This is Statement deals with flow of cash which includes cash equivalents as well as cash
Assets are carried at the present discounted value of the future net cash inflows that the item is expected to generate in the normal course of business.
It is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character, and interpreting the results thereof
Assets are recorded at the amount of cash or cash equivalents paid or the fair value of the consideration given to acquire them at the time of their acquisition.
Accounting is based on a single entry system which means that the dual effect of a business transaction is recorded.
The reports of a costing system are intended for internal use, and so are not subject to the reporting requirements of any of the accounting frameworks, such as GAAP or IFRS
Accounting is based on a single entry system which means that the dual effect of a business transaction is recorded
It requires that revenue be recorded WHEN EARNED, not before and not after.
It traces the various sources which bring in cash such as cash from operating activities, sale of current and fixed assets, issue of share capital and debentures etc. and applications which cause outflow of cash such as loss from operations, purchase of current and fixed assets, redemption of debentures, preference shares and other long-term debt for cash.
It is the process of determining the monetary amounts at which the elements of the financial statements are to be recognized and carried in the balance sheet and income statement.
An accounting event is an economic occurrence that causes changes in an enterprise’s assets, liabilities, and/or equity.
Case analyses also enable you to improve your critical thinking and analytical abilities, your ability to evaluate sources of information and your written communication skills
A __ is a legal document that states the number of shares of ownership that the investor holds in the company, as well as the class of stock owned.
It is used as the basis for the projection of future investing and financing plans of the enterprise.
Choose the 7 areas that can be part of the report by using costing system.
Prepaid expenses are expenses paid in advance, such as, Prepaid Rent, Prepaid Insurance, Prepaid Advertising, and Office Supplies
The __ is the date at which the books of the corporation will be examined and anyone who owns shares on that day will receive the dividend based upon their total holdings.
A stockholder can have the restriction removed under Rule 144, which has a mandatory holding period.
A stock is a legal document that states the number of shares of ownership that the investor holds in the company, as well as the class of stock owned
It may be real or fictional, but will usually represent a complex situation with no ready solutions.
Generations of academic research have proven time and time again that the so called __ for dividend-paying firms is higher than those that don't pay dividends.
It happens when a company mails additional shares to owners based upon some ratio.
It is a service activity, its function is to provide quantitative information primarily financial in nature, about economic entities that is intended to be useful in making economic decisions
In the event of a corporate liquidation, the common stockholders are paid their share of any remaining assets after all credit or claims have been fulfilled
An alternative definition of stock is the finished goods inventory that a company has on hand and available for sale.
It is a legal document that states the number of shares of ownership that the investor holds in the company, as well as the class of stock owned
It might create a sort of floor underneath a stock that keeps it from falling as far as non-dividend paying companies
Stocks are important because basic financial theory states that firms exist solely for the purpose of paying dividends, either now or at some point in the future
Cash Flow Statement based on AS-3 (revised) presents separately cash generated and used in operating, investing and financing activities.
These are necessary for transactions and events that extend over more than one period.
It is the date on which the dividend is actually sent to the owners
It is the reports covering a one -year period.
It means covering one, three, or six months of activity.
Equity consists of all the investments made into a company over the years - usually in the form of capital or shareholder's investments and retained earnings.
The financial statement is a statement used to determine the financial strength and weakness of a business.
Company must have a registration statement approved by the Securities and Exchange Commission before the restriction can be removed from the stock certificate, which enables the stockholder to sell his shares.
Fine-tuning operations to generate higher profitability
An analyst is a scenario that gives you the opportunity to identify problems, apply theory and recommend a course of action in a business situation
A debit side entry must have a corresponding credit side entry
If a company declares bankruptcy, this usually means that the holdings of all investors are either severely reduced or completely eliminated.
It uses the adjusting process to recognize revenues when earned and expenses when incurred (matched with revenues).
These are claims against customer arising from sale of services or goods on credit. This type of receivable offers less security than a promissory note.
Common stock is the baseline form of stock, and includes the right to vote on certain corporate decisions, such as the election of a board of directors
__ have histories of maintaining and increasing their dividend even during times of economic collapse, allowing owners to enjoy food, shelter, and clothing even in the midst of fiscal storms
The Equity depicts the name of the company, the name of the statement and the date at which the account balances apply
It is recorded to bring an asset or liability account balance to its proper amount; it also updates a related expense or revenue account.
The costing system is comprised of a set of forms, processes, controls, and reports that are designed to aggregate and report to management about revenues, costs, and profitability.
Amounts owed to others to others for unpaid expenses.
A transaction is a particular kind that involves the transfer of something of value between two entities,
It portray the financial effects of transactions and other events by groupings them into broad classes according to their economic characteristics
Revenue is to recognized in the accounting period when goods are delivered or services are rendered or performed.
An increase in an item of current liability causes a decrease in cash outflow because cash is saved
A share may have a face value, which is known as its par value
An account is debited when an amount is entered on the right side of the account and credited when an amount is entered on the left side.
Each share represents a __ of the total ownership of a company
This approach works well for large production runs of identical items, such as a production run of 100,000 cell phones.
__ is the baseline form of stock, and includes the right to vote on certain corporate decisions, such as the election of a board of directors.
A company must have a registration statement approved by __ before the restriction can be removed from the stock certificate, which enables the stockholder to sell his shares.
It is an organization’s activities can be divided into specific time periods.
Cash flows are cash inflows and outflows
A good case analysis: clearly identifies the whole problem(s)
It recognizes revenues when cash is received and records expenses when cash is paid.
These are cash inflows and outflows.
Dividend income is tax-advantaged
What is an accounting equation?
Banks and financial institutions mostly prefer cash flow statement to analyse liquidity of the borrowing firm.
The firms should use the same accounting method from period to period to achieve comparability over time within a single enterprise.?
It aims to record expenses in the same accounting period as the revenues that are earned as a result of those expenses.
A costing system is designed to monitor the costs incurred by a business
An analysing a case your task is to identify the problem(s) in the situation presented in the scenario analyse the key issues within the context of theory/ies presented in your course develop and compare alternative solutions to the problems consider the advantages and disadvantages of various possible solutions select the best solution and make recommendations for action write up your case analysis in appropriate case analysis report format.
It is a scenario that gives you the opportunity to identify problems, apply theory and recommend a course of action in a business situation.
Requires that all relevant information that would affect the user’s understanding and assessment of the accounting entity be disclosed in the financial statements.
It is the baseline form of stock, and includes the right to vote on certain corporate decisions, such as the election of a board of directors
A company may issue either common stock or preferred stock.
Accounting records and statements are based on the most reliable data available so that they will be as accurate and as useful as possible.
It is any medium of exchange that a bank will accept for deposit at face value. It includes coins, currency, checks, money orders, bank deposits and drafts
It is important to remember that there is no one correct answer to any case analysis.
Assets refer to resources owned and controlled by the entity as a result of past transactions and events, from which future economic benefits are expected to flow to the entity..
It yield investor, or high dividend yield investor as they are called more frequently, focus on buying stocks with the highest dividend yields they deem to be "safe," which usually means covered by some minimum ratio of payout-to-earnings or cash flow
The __ is the date on which the dividend is actually sent to the owners.
It is tax-advantaged.
The term "account" is used often in this tutorial
Cash flow statement helps in planning the repayment of loan schedule and replacement of fixed assets, etc.
The management generally looks into cash flow statements to understand the internally generated cash which is best utilised for payment of dividends.
Stock is the amount of capital paid into a business by its investors. Stock is divided into shares, which are held by investors in the form of stock certificates
A transaction is a particular kind that involves the transfer of something of value between two entities.
It is the type of costing system where in the Materials, labor and overhead costs are compiled in aggregate for an entire production process, and are thenallocated to individual production units.
The __ is usually quite small, with $0.01 per share being a common amount
Cash flow statement helps to ascertain the liquid position of the firm in a better manner. Banks and financial institutions mostly prefer cash flow statement to analyse liquidity of the borrowing firm.
A stockholder can have the restriction removed under __, which has a mandatory holding period.
Preferred dividends has special rights, which can vary by class of preferred stock
The common stockholders are paid their share of any remaining assets after all credit or claims have been fulfilled. If a company declares bankruptcy, this usually means that the holdings of all investors are either severely reduced or completely eliminated.
It consists of bank overdraft, cash credit, short term deposits and marketable securities.
It is the amount of capital paid into a business by its investors.
Cash flow Statement helps in efficient and effective management of cash.
If you buy the stock the day after the payable-date, you won't get the upcoming dividend payment; you'll have to wait for any future ones.
Accumulated Depreciation is a valuation account which represents the decrease in value of a fixed asset due to continued use, wear & tear, passage of time, and obsolescence.
Assets are items that have an economic burden on the company - usually items a business owes to other businesses.
It is the finished goods inventory that a company has on hand and available for sale.
It tell us how a business is performing.
Cash is the centre of all financial decisions.
It is designed to monitor the costs incurred by a business.
A costing system option is activity based costing (ABC). ABC was developed in response to concerns that overhead costs are rarely allocated in an appropriate manner, and involves a finer degree of differentiation in determining how overhead costs are assigned to different cost pools, and then how the costs in those pools are allocated to cost objects
It is the date at which the books of the corporation will be examined and anyone who owns shares on that day will receive the dividend based upon their total holdings
A __ focuses on buying stocks with a high growth rate in the absolute dividend per share.
It is the length of time covered by financial statements.
This account represents the reverse relationship of the account receivable. By accepting the goods or services, the buyer agrees to pay for them in the near future.
Recognition is the process of incorporating in the balance sheet or income statement an item that meets the definition of an element and satisfies the criteria for recognition.
Stock is divided into __, which are held by investors in the form of stock certificates.
An increase in an item of current assets causes a decrease in cash inflow because cash is blocked in current assets
The ex-date is the date at which the books of the corporation will be examined and anyone who owns shares on that day will receive the dividend based upon their total holdings.
Cash flow statement aims at highlighting the cash generated from operating activities.
It is the amount of capital paid into a business by its investors. Stock is divided into shares, which are held by investors in the form of stock certificates
A __ is designed to monitor the costs incurred by a business. It consists of bank overdraft, cash credit, short term deposits and marketable securities.
These are important because basic financial theory states that firms exist solely for the purpose of paying dividends, either now or at some point in the future.
It is the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information.
Account is an account that stores all transactions that involve cash receipts and cash payments.
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