FAR Flashcards

Decks in this Class (30):

• Not For Profit Nonbusiness

  Not-for-profit (nonbusiness)

  Sample Cards:

  fabs sfac 4 objectives of financial repo,

  sfac 4 states the 2 greatest dissimilari,

  sfac 4 states the 2 greatest dissimilari
  6 Cards
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• Governmental Accounting And Reporting

  Governmental Accounting and Reporting

  Sample Cards:

  what is the measurement focus and basis,

  what are the government wide financial s,

  what are the governmental funds financia
  12 Cards
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• Cash And Cash Equivalents

  Cash and cash equivalents

  Sample Cards:

  define working capital,

  define current assets,

  list 8 examples of current assets
  41 Cards
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• Personal Financial Statements

  Personal Financial Statements

  Sample Cards:

  to who may personal financial statements,

  what are the 4 things present in persona,

  what is net worth
  25 Cards
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• Income Taxes

  Income Taxes

  Sample Cards:

  what are the 3 acceptable methods to rep,

  under the cash basis or cash receipt met,

  what 2 criteria must be met for income t
  34 Cards
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• Basic Theory Basic Concepts

  Basic Theory - Basic Concepts

  Sample Cards:

  the single source for all us gaap,

  recognition precedes cash receipt expend,

  expenses are recognized as related reven
  61 Cards
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• Underlying Principles

  Underlying Principles

  Sample Cards:

  name the 10 underlying principles of acc,

  as a measurement basis it is the most ob,

  it is recognized when it is earned measu
  11 Cards
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• Modifying Conventions

  Modifying Conventions

  Sample Cards:

  name the 5 modifying conventions,

  when confronted with alternative account,

  departure from strict compliance with ga
  6 Cards
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• Elements Of The Financial Statements

  Elements of the Financial Statements

  Sample Cards:

  what are the 10 interrelated elements th,

  probable future economic benefits obtain,

  probable future sacrifices of economic b
  12 Cards
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• Iasb

  IASB

  Sample Cards:

  iasb what are the 6 stages of the due pr,

  how are the international financial repo,

  what is ifrs 1 stated objectives
  6 Cards
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• Finacial Statements Us

  Finacial Statements - US

  Sample Cards:

  a full set of fs for a period show what,

  what is the characteristic of general pu,

  what is articulation of fs
  20 Cards
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• Present Value

  Present Value

  Sample Cards:

  what is the object of present value,

  fair value captures what 5 elements,

  what is the traditional approach to pres
  11 Cards
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• Changes In Statement Of Equity

  Changes in Statement of Equity

  Sample Cards:

  what is the format for the statement of,

  what is the similarities between gaap an,

  what is the dissimilarities between gaap
  3 Cards
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• Statement Of Cash Flows

  Statement of Cash Flows

  Sample Cards:

  what is the primary purpose of the state,

  cash flow information is considered usef,

  what items does ifrs show differently in
  18 Cards
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• Ratios

  Ratios

  Sample Cards:

  current ratio,

  what is the limitation on the current ra,

  quick ratio acid test
  42 Cards
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• Sec Reporting Requirements

  SEC Reporting Requirements

  Sample Cards:

  what is the name of the database used by,

  what is the sec regulation s k,

  what is the sec regulation s t
  14 Cards
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• Employee Benefit Plans Trusts Fs

  Employee Benefit Plans/Trusts FS

  Sample Cards:

  what are the 2 financial statements that,

  what 4 things must be included in the st,

  what 8 things must be included in the st
  4 Cards
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• Property Plant And Equipment

  Property, Plant and Equipment

  Sample Cards:

  what 4 things can be included in the cos,

  how should the cost of tearing down an e,

  how should the cost of excavating for a
  39 Cards
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• Investments

  Investments

  Sample Cards:

  fasb asc 320 10 05 2 governs the account,

  investments in equity securities that do,

  what are debt securities
  72 Cards
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• Fiduciary Accounting

  Fiduciary Accounting

  Sample Cards:

  define fiduciary,

  what is the purpose of accounting for es,

  what is the responsibility of the fiduci
  13 Cards
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• Loans

  Loans

  Sample Cards:

  when is a loan impaired,

  define loan according to fasb asc 310 10,

  fasb asc 310 10 35 13 applies to all loa
  8 Cards
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• Bonds

  Bonds

  Sample Cards:

  define convertible bonds,

  what is the conversion ratio for convert,

  theoretically the conversion feature of
  16 Cards
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• Investment Property

  Investment Property

  Sample Cards:

  for life insurance policies of key offic,

  when the enterprise is the beneficiary o,

  how are funds set aside to meet specific
  3 Cards
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• Intangible Assets

  Intangible Assets

  Sample Cards:

  what is goodwill,

  what is a coinsurance requirement clause,

  when an insurance policy contains a coin
  15 Cards
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• Long Term Debt Financial Liabilities

  Long Term Debt (Financial Liabilities)

  Sample Cards:

  long term liabilities are recorded how o,

  how are issue costs on bonds recorded,

  what are notes payable
  32 Cards
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• Equity

  Equity

  Sample Cards:

  define stockholder s equity,

  name the 9 major categories of equity,

  what does capital stock include
  50 Cards
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• Revenue Recognition

  Revenue Recognition

  Sample Cards:

  what 3 conditions must be met for revenu,

  in most situations when is revenue recog,

  prior to the point of sale significant u
  33 Cards
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• Compensation And Benefits

  Compensation and Benefits

  Sample Cards:

  what 4 conditions must be met for an emp,

  when do employee rights vest,

  when do employee rights accumulate
  44 Cards
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• Accounting Changes And Error Corrections

  Accounting changes and error corrections

  Sample Cards:

  what are the 3 general classifications o,

  what is a change in accounting principle,

  what is a change in accounting estimate
  21 Cards
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• Business Combinations

  Business Combinations

  Sample Cards:

  when does a business combination occur,

  what are the 3 traditional business comb,

  what is a statutory merger
  35 Cards
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