...NINJA CPA REVIEW® NINJA Notes 2015 Financial Accounting & Reporting (Updated as of July 2015) Table of Contents The N.I.N.J.A. Framework I. IFRS 8 II. Accounting Changes 19 III. Financial Reporting 20 IV. Bonds & Debt Restructure 39 V. Consolidations 48 VI. Deferred Taxes 51 VII. Derivatives, Hedging, & Translation 53 VIII. Fixed Assets 57 IX. Governmental Accounting 63 X. Personal Financial Statements, Segments, & Interim Reporting 74 XI. Partnership Accounting 77 XII. Inventory 80 XIII. Investments 86 XIV. Leases 88 XV. Current Assets & Liabilities 92 XVI. Not-For-Profit Accounting 94 XVII. Pensions 100 XVIII. Statement of Cash Flows 102 XIX. Stockholders’ Equity 104 2 The N.I.N.J.A. Framework NAIL THE CONCEPTS Watch your CPA Review videos first – before working any assigned homework questions. The CPA Review industry says to watch a section of CPA Review video and then work the accompanying MCQs. This perspective stems from the old-school approach to the paper and pencil exam where you had to sit in a live classroom and learn from an instructor on weekends. Today, there is a smarter way to study. You don’t have to go to a weekend live course. You can fire up the laptop on a Tuesday morning and knock out two hours of material before you even brush your teeth. If you work MCQs in week one over your week one topic, guess what? You will work them again in week 5 or 6 when you review because you will forget what you learned. If you watch a video in week one and score...
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...INTRODUCTION ..................................................................................................................................... The following is a critical comparison of the design firm’s M&C Saatchi and McCAN Australia. I have chosen these two firms as they are both from the advertising sector. I will be comparing the following: - Sector - Size of the firm - Awards and industry recognition - Campaigns and clients - Conception of design - Creative process methods SECTOR ..................................................................................................................................... Both McCann and M&C Saatchi are in the advertising sector. ‘During the last decade there have been substantial changes and developments in the global advertising industry’ [1] and within that time both McCann and M&C Saatchi have emerged as leaders in the industry of advertising in Australia. M&C Saatchi Sydney has become one of Australia’s largest and most successful marketing agencies, a global marketing services business working across a wide variety of industry sectors. It is made up of more than 360 staff, seven companies, two offices (Sydney and Melbourne) and a client roster laden with iconic brands. M&C Saatchi abides by it’s founding philosophy, ‘Brutal simplicity of thought’ in order to create effective advertising for many brands including google, ANZ, Westfield, and many more. On the other hand McCann Australia opened in...
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...In the simulation result for VSWR is shown in the figure N065, where for the frequency of 5.8GHz have an excellent result with 0.10dB and for S-band was 1.08, both results are less that 2dB and this difference of matching is reflected in the graphic of return loss. Figure 65 Comparison of the VSWR between S & C-band before assembly Figure 66 Comparison of the Smith Chart between S & C-band before assembly In figures N066 of the Smith Chart shows that the frequency of 5.8GHz is very near to center of the Smith Chart, and is seen in the figure N067 where de input impedance is 49.96-j054 for 5.8 GHz but is 48.40-j081 for 2.4GHz and the C-band is matching with the port in 50Ω. This is the reason of the difference of the return loss between both frequencies....
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...employees to continue to increase their skillsets C) they reward employees on an objective basis D) they help to promote product quality 2) This term refers to a difference between the output of a human judgment processes and that of an objective, accurate assessment. This difference could be due to bias, prejudice, or other subjective, extraneous influences. 2) _______ A) content validity B) a first-impression effect C) rating error D) the performance appraisal process 3) In 2009, employees were expected to earn average merit increases of what percent? 3) _______ A) 8.3% B) 2.9% C) 5.2% D) 1.3% 4) Management by objective is part of which type of performance appraisal system? 4) _______ A) behavioral observation scale B) behaviorally-anchored rating scale C) goal-oriented system D) trait system 5) This occurs when a rater generalizes good performance behavior in one aspect of the job to all aspects of the job. 5) _______ A) negative halo effect B) positive halo effect C) first-impression effect D) similar-to-me effect 6) Which comparison system requires the rater to place a specific number of employees into groups that represent the entire range of performances? 6) _______ A) the critical incident technique B) hierarchical C) paired comparison D) forced distribution 7) Among the various...
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...Introduction to Management Science, 10e (Taylor) Chapter 9 Multicriteria Decision Making 1) The different objectives in a goal programming problem are referred to as goals. Answer: TRUE Diff: 1 Page Ref: 400 Main Heading: Goal Programming Key words: goal programming 2) All goal constraints are inequalities that include deviational variables. Answer: FALSE Diff: 1 Page Ref: 400 Main Heading: Goal Programming Key words: goal constraints 3) A negative deviational variable is the amount by which a goal level is exceeded. Answer: FALSE Diff: 2 Page Ref: 400 Main Heading: Goal Programming Key words: goal constraints, deviational variable 4) At least one or both deviational variables in a goal constraint must equal 0. Answer: TRUE Diff: 2 Page Ref: 401 Main Heading: Goal Programming Key words: deviational variable, goal constraints 5) The objective function in a goal programming model seeks to minimize the deviation from goals in the order of the goal priorities. Answer: TRUE Diff: 2 Page Ref: 401 Main Heading: Goal Programming Key words: goal prog problem formulation, objective function for goal prog 6) In goal programming, terms are summed in the objective function in order to make consistent decisions. Answer: FALSE Diff: 2 Page Ref: 402 Main Heading: Goal Programming Key words: goal prog problem formulation, objective function for goal prog 7) Goal constraints can include all deviational variables. Answer:...
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...nonverbal behaviors to convey your message is known as: A) stimulating B) motivating C) encoding D) decoding Points Earned: 1.0/1.0 2. The process of determining exactly what a speaker's language or nonverbal behavior means is known as: A) feedback B) encoding C) monitoring D) decoding Points Earned: 1.0/1.0 3. When adults attempt to determine the meaning of a statement, they rely most heavily on the: A) all three codes about equally B) vocal and visual codes C) verbal and vocal codes D) visual and verbal codes Points Earned: 1.0/1.0 4. All of the following are considered part of the speech environment except: A) the time of day B) the number of people in the audience C) the topic D) the location Points Earned: 1.0/1.0 5. A listener's verbal, visual, and vocal responses to a speaker's message are known as: A) noise B) the listener's frame of reference C) the speaker's frame of reference D) feedback Points Earned: 1.0/1.0 6. When you evaluate and modify your behavior until it meets your personal expectations, you are engaged in: A) feedback B) decoding C) self-monitoring D) encoding Points Earned: 1.0/1.0 7. According to Gallup Poll surveys cited in the text, which of the following were rated highest in ethical standards in 2006? A) insurance salespeople B) journalists C) stockbrokers D) nurses Points Earned: 1.0/1.0 8. Using someone else's ideas...
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...Statements| b.|Horizontal Statements| c.|Funds Statements| d.|Common-Size Statements| e.|none of the answers are correct| ANS: D 2. In financial statement analysis, ratios are: a.|the only type of analysis where industry data are available| b.|absolute numbers converted to a common base| c.|fractions usually expressed in percent or times| d.|the only indication of the financial position of the firm| e.|none of the answers are correct| ANS: C 3. Denver Dynamics has net income of $2,000,000. Oakland Enterprises has net income of $2,500,000. Which of the following best compares the profitability of Denver and Oakland? a.|Oakland Enterprises is 25% more profitable than Denver Dynamics.| b.|Oakland Enterprises is more profitable than Denver Dynamics, but the comparison can't be quantified.| c.|Oakland Enterprises is only more profitable if it is smaller than Denver Dynamics.| d.|Further information is needed for a reasonable comparison.| e.|Oakland Enterprises is more profitable if it is a larger firm than Denver Dynamics.| ANS: D 4. Which of the following can offer a type of comparison in financial statement analysis? a.|past ratios and figures| b.|industry averages| c.|statistics of competitors| d.|all of the answers are correct| e.|none of the answers are correct| ANS: D 5. Which of the following is not a source of industry statistics? a.|Annual Statement Studies| b.|Mergent Dividend Record| c.|Value Line| d.|Standard and Poor's...
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...research hypothesis and a null hypothesis about the populations”. One makes a research hypothesis about a predicted correspondence among populations. The research and the null hypothesis’ are opposites, meaning if one hypothesis is correct and true the other is not. 2. “Determine the characteristics of the comparison distribution”. This is important because the comparison distribution represents the population situation if the null hypothesis is factual. This is the main idea of hypothesis testing. 3. “Determine what the cutoff sample scores on the comparison distribution where the null hypothesis should be rejected”. This means determining a target against the results that will be compared or to what extreme the sample score would have to be for it to be too doubtful that they could get such an extreme score if the null hypothesis were true. Here the null hypothesis would be rejected if the point of the cutoff sample scores reaches or exceeds the sample score. If the null hypothesis is true the Z score is established at a score which would be improbable. 4. This step is to get the actual results for the sample. “Determine your sample’s score on the comparison distribution” . After one gets the test’s sample outcome, one moves on to step 5. 5. Here it is either declared the test is invalid or one rejects the null hypothesis by noting the similarity of the cutoff Z score to the samples Based on the information given for the following studies, decide...
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...it and the null hypothesis says there will be no difference if what the researcher predicts. The logic is figuring out the probability of getting a particular result if the null hypothesis is true. Step 2: Determine the Characteristics of the Comparison Distribution In the hypothesis-testing process, you compare the actual sample’s score to this comparison distribution. The comparison distribution is the distribution that represents the population situation if the null hypothesis is true. If the null is true both samples will have a normal curve. Step 3: Determine the Cutoff Sample Score on the Comparison Distribution at Which the Null Hypothesis Should Be Rejected You will need Z scores and percentages, if a researcher decides that the score is lower than a certain percent then they would reject the null. Psychology researchers use a cutoff on the comparison distribution with a probability of 5% that a score will be at least that extreme if the null hypothesis were true. They are described as the 0.5 significance level and the .01 significance level. Step 4: Determine Your Sample’s Score on the Comparison Distribution Figure the Z score for the sample’s raw score based on the population mean and standard deviation of the comparison distribution. Step 5: Decide Whether to Reject the Null Hypothesis Compare your actual sample’s Z score, to the cutoff Z score. Draw the...
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...Computer solution; graphical solution 9. Computer solution 10. Model formulation, computer solution 11. Model formulation, product mix, computer solution 12. Model formulation, product mix, computer solution 13. Model formulation, clinic personnel selection, computer solution 14. Model formulation, production scheduling, computer solution, sensitivity analysis 15. Model formulation, employee scheduling, computer solution 16. Model formulation, R&D project selection 17. AHP, company takeover 18. Pairwise comparison (9–17) 19. AHP, faculty raises 20. Pairwise comparisons (9–19) 21. AHP, mutual funds 22. AHP (9–21) 23. AHP, utility vehicles 24. AHP, anchor persons 25. AHP, hotel selection 26. AHP, college selection 27. AHP, dating service 28. AHP, R&D projects 29. AHP, student selection 30. AHP, athletic facilities 136 2. a) 31. AHP, vacation locations 32. Pairwise comparisons (9–31) 33. AHP, major options 34. AHP, basketball players 35. AHP, school facilities 36. Student’s pairwise comparisons 37. AHP, emergency rooms 38. AHP, class sections 39. Student car selection 40. Scoring model, plant site selection 41. Scoring model, site selection 42. Scoring model, Asian distribution center 43. Scoring model, campus student center 44. Scoring model, college selection 45. Scoring model, time-share condominium 46. Scoring model, condominium selection 47. Scoring model, soccer tournament 48. Scoring model, student’s restaurant selection model PROBLEM...
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...True/False Questions 1. A Comprehensive Annual Financial Report (CAFR) would include an introductory section, management's discussion and analysis, basic financial statements, required supplementary information other than MD&A, combining and individual fund statements, narrative explanations, and statistical section. Answer: True 2. The three major sections of a CAFR are the Introductory, Financial, and Statistical sections. Answer: True 3. The introductory and statistical sections of a CAFR are required to be audited. Answer: False 4. State and local governments are not required to prepare a CAFR. Answer: True 5. Combining statements are required whenever a non-major column is used in one of the fund financial statements. Answer: True 6. A complete CAFR includes combining financial statements to reflect major funds. Answer: True 7. In addition to the government-wide statements, governments are required to prepare fund financial statements for governmental, proprietary and fiduciary funds. Answer: True 8. In addition to the government-wide statements, governments are required to prepare fund financial statements for governmental funds only. Answer: False 9. The General Fund is not always considered to be a major fund when preparing fund basis financial statements. Answer: False 10. With respect to fund basis financial statements, governmental funds are considered to be...
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...will substitute for the carbon dioxide produced at the end of the experiment. The amount of water is measured in milliliters (by the graduated cylinder) will serve as an indirect method of fermentation rate because carbon dioxide is a gas which cannot be measured by means other than indirectly with this experiment. Carbon dioxide production was measured by measuring the volume of water at different temperature; 25°C, 35°C, 45°C, 55°C, and 65°C. The time was also recorded at which all the measurements were taken for the different temperatures. Materials and Method The materials used in this experiment was: Yeast culture (contains yeast and glucose in the form of molasses) Five fermentation tubes, Water, Red Wax pencil, Graduated cylinder Water baths (labeled 25°C, 35°C, 45°C, 55°C, and 65°C). Five fermentation tubes were labeled with the following temperatures: 25°C, 35°C, 45°C, 55°C, and 65°C using the red wax pencil. Then 30 ml of the yeast culture was poured into each of the five labeled fermentation tubes. The first tube was placed in the 25°C, water bath which was...
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...Enquiry Paper Guidance Question (a) – The Comparison. In question (a) the focus is on the direct comparison of two sources. Without explicit comparison candidates will not get above Band IV. A substantial number of candidates still adopt a sequential approach, and others limit themselves to a low Band III by confining their comparisons to a brief conclusion after a sequential analysis of the two Sources. A continuously comparative approach is required. Candidates should, however, not assume that a comparison is established simply by the introduction of comparative words and phrases such as ‘whereas’, ‘on the other hand’, ‘by contrast’, or by setting points from the Sources alongside each other. Similarity or difference of content has to be demonstrated in relation to a point which is genuinely comparable, either because both Sources refer to it or because one draws attention to it but the other ignores it. Likewise comparison of qualities other than content requires assessment of the same qualities in both Sources. Another common weakness is a failure to realise that comparisons are only relevant if they relate to the issue raised in the question. * Sequencing is a major problem. There is a reluctance to select issues and themes from the two Sources and build the comparison around these. Many candidates, often able, prefer paraphrase. Two separate accounts are provided with perhaps a final paragraph making a few belated comparisons. * Not focusing on content is a weakness...
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...may have other courses or jobs, what is required here is somewhat less than a full analytical workup. You will be applying some of the financial principles we have discussed in class. A comprehensive outline is given below to make the project. 1. Select a company of your choice as a first step and apply principles that are mentioned below. (I understand that some data will not be available for the firms. However, you have to assume missing figures based on your understanding and our class discussions.) FIRM COMPARABILITY: Data on a firm all by itself is not very revealing – the data needs to be related to other firms. But the other firms must be similar to the subject firm. The good news is that here we are not making any comparisons; rather we are going to focus on one firm. The following items should be checked to evaluate the firm as initial homework: 1. Industry:...
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...to read about the general process of attacking Sentence Correction questions; the techniques we discuss in this current article are to be used only when necessary.) Here’s today’s problem; set your timer for 1 minute and 15 seconds and go! More than 300 rivers drain into Siberia’s Lake Baikal, which holds 20 percent of the world’s fresh water, more than all the North American Great Lakes combined. (A) More than 300 rivers drain into Siberia’s Lake Baikal, which holds 20 percent of the world’s fresh water, more than all the North American Great Lakes combined. (B) With 20 percent of the world’s fresh water, that is more than all the North American Great Lakes combined, Siberia’s Lake Baikal has more than 300 rivers that drain into it. (C) Siberia’s Lake Baikal, with more than 300 rivers draining into it, it holds more of the world’s fresh water than all that of the North American Great Lakes combined, 20 percent. (D) While more than 300 rivers drain into it, Siberia’s Lake Baikal holds 20 percent of the world’s fresh water, which is more than all the North American Great Lakes combined. (E)...
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