...The ACCT504 Midterm Exam will be an online open-book, open-notes, open-computer exam with a time limit of 2 hours and 30 minutes. It will be worth 150 points or15% of the course grade. The Midterm Exam is multiple pages and consists of 30 multiple-choice questions, one essay question, and one problem. The multiple-choice questions are worth 3 points each. Some of the multiple choice questions are problem-based. There is also one essay question worth 25 points and one problem worth 35 points. Terminal Course Objectives A, B, C, D, and E are all addressed on this exam. For the multiple choice questions worth 90 points, you should know: 1. Know what information is desired by external users of financial statements 2. Know about operating activities, investing activities, and financing activities 3. Be able to calculate net cash provided by operating activities in a simple situation (by identifying which activities are operating activities) 4. Know the definitions of asset, liability, equity, revenue, and expense 5. Know what items appear under each classification in the balance sheet 6. Know how to compute Earnings per Share 7. Know the composition of a Retained Earnings statement 8. Know about a ledger account, its different parts, the rules of debit and credit, and the meaning of the term normal balance of an account 9. Know about revenue recognition principle, matching principle, and time-period assumption 10. Know the computation net...
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...The FI504 Midterm Exam will be an online open-book, open-notes, open-computer exam with a time limit of 2 hours and 30 minutes. It will be worth 150 points or 15% of the course grade. The Midterm Exam is multiple pages and consists of 30 multiple-choice questions, one essay question, and one problem. The multiple-choice questions are worth 3 points each. Some of the multiple choice questions are problem-based. There is also one essay question worth 25 points and one problem worth 35 points. Terminal Course Objectives A, B, C, D, and E are all addressed on this exam. For the multiple choice questions worth 90 points, you should know: 1. Know what information is desired by external users of financial statements 2. Know about operating activities, investing activities, and financing activities 3. Be able to calculate net cash provided by operating activities in a simple situation (by identifying which activities are operating activities) 4. Know the definitions of asset, liability, equity, revenue, and expense 5. Know what items appear under each classification in the balance sheet 6. Know how to compute Earnings per Share 7. Know the composition of a Retained Earnings statement 8. Know about a ledger account, its different parts, the rules of debit and credit, and the meaning of the term normal balance of an account 9. Know about revenue recognition principle, matching principle, and time-period assumption 10. Know the computation net...
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...|IPM Project Report | | | | | |Investment Portfolio Creation | |using | | | |Investment Philosophy – of Joel Greenblatt’s | |[pic] | | | | | | ...
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...Investment Policy Statement Investors Information Investor Profile 01 Name; Miss; H.A.Wanamali Birth Date; 31 May 1988 Relationship; Retail Investor Gender; Female Investor Profile 02 Name; Miss; W.D.D.M. Rathnasiri Birth Date; 19 Nov 1988 Relationship; Retail Investor Gender; Female Investor Profile 03 Name; Miss; P.D.S.S.Wetthesinghe Birth Date; 17 Oct 1988 Relationship; Retail Investor Gender; Female Statement of Objective Risk Aversion Our intention is gaining high return while controlling the risk level of the investment. Though the high return level implied the high tolerance for risk of investors, our objective is to maximize the return while minimizing the overall risk level of the investment to accomplish the maximized wealth. The major reason behind high level tolerance for risk is the return expected through the investment is high. Always we tried to maintain better relationship between the expected return and cost of investment. Except our main objective there are some co-objectives those are, * Mitigation of Risk To construct efficient and well diversified portfolio three persons are joined together through that we can manage and bear risk among us. On the other hand single marital status, young age and relax feeling of family responsibilities rub up the high tolerance level for risk. * Maintain an appropriate degree of portfolio diversification We will maintain efficient diversification portfolio at all time and it should be matches with the reasonable...
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...| 一、简要流程 | | 1. 凭植入TPO 的托福课程的听课证号、身份证号和真实姓名登陆迅程TPO 网页； | | 2. 系统自动验证成功后即可看到“获得ETS 考试授权号authocode”链接，点击该链接后即可查看到自己的authcode（考试授权号）； | | 3. 拿到authcode 后学生可以在家中任何时间进入ETS 的TPO 页面完成模考； | | 4. 进入ETS 的TPO 页面后的操作流程： | | （1）在主页面右下角‘If your employer or institution provided you with an authorization number, please enter it below’ | |框内输入TPO 授权号（注意：此授权号仅限单次使用，一旦输入进入注册，即视为使用），点击Submit； | | （2）进入注册页面，输入电子邮箱地址。如果之前已注册过TOEFL Practice Online 会员，则输入自己的密码；如果是第一次注册， | |请选取No，I am a new customer 选项。 点击Continue 进入下一页面； | | （3）点击Continue to the Practice Site 进入下一页面填写注册信息； | |...
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...Online Shopping vs. Traditional Shopping Wezley Singleton COM/155 Lee A. Fenstermaker III. Due Date: 22JUL2012 Online Shopping vs. Traditional Shopping As the years pass, technology seems to leap forward exponentially. The capabilities of the home computer have increased so much over the past few decades. Shopping is a ritual that every household in America practices. With the rise of the Internet, companies know the potential consumer base that awaits them. How did they tap into this consumer gold mine? By providing convenient shopping, where consumers can buy products with the click of a button. Online shopping is becoming a much more popular thing these days. With relatively new faces such as Amazon and eBay, and even old players like Wal-Mart and The Home Depot, online shopping is definitely an alternative to traditional shopping. But the question is, which one is more effective, both cost-wise and time-wise? This article will go over the benefits of online shopping vs. traditional shopping, so that you can make an informed decision when trying to decide where to shop. Online shopping, in most situations, is a much more cost and time effective way to shop for many products. It saves you time, money, and spares you of some stress. By the end of this essay, you will see why online shopping is clearly the best option when it comes to where you shop. Saving time is the point and goal of every piece of technology...
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...statements, retained earnings statement, and statement of cash flows are the four basic financial statements. The balance sheet reveals what a business owns and what it owes. Income statements reveal how much cash comes in and how much goes out. Retained earnings are the net income retained in the corporation. Statements of cash flow reveal how company’s exchange money with other companies and the outside world. Balance Sheets The balance sheet gives thorough figures regarding a business’s assets, liabilities, and shareholder’s equity. Assets are what the business has possession of, the company’s property that is of value, businesses both, sale, and use assets to make merchandise, and offer services to sell. Assets consist of the companies touchable property, also including cash, trademarks, investments, and patents. Examples of liabilities or a claim of creditors’ is payment of monies, to banks, rent, and payroll, to suppliers, taxes, and commitments to supply goods and services to impending consumers. Claims of owners are stockholder’s equity or capital or net worth. These are the funds that remain when a business sale off their assets and pay off its liabilities. The remaining funds belong to the shareholders. Income Statements Income statements reveal how much cash a business makes over a year as well as showing the cost, and expenditures related to making that cash. The ending income statement reflects the businesses profits and loss. An Earnings per Share is...
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...needs of a company one must first comprehend the purpose of the four basic financial statements, how they are used by its employees and the valuable information they provide for its investors. The four basic financial statements are listed as income statements, retained earnings statements, balance sheets, and statements of cash flows. All four of these reports allow both their internal and external users to determine a wealth of information. The data collected from these reports can range from a corporation’s predicted future earnings to determining whether or not a company consists of sufficient funding to carry out its planned business operations. Breaking down the purpose for each of the four reports allows its users to gain a full comprehension regarding how these reports can be used effectively. The purpose of each of the listed financial statements is interrelated because each one supplements one another. Income statements monitor a specific period of time to determine the successes or failures of a company’s business operations. The retained earnings statement takes into consideration the same period as the income statement to show the amounts and reasons for variations in retained earnings. As a company begins any planned operation its internal users must determine if the cash they have on...
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...Financials The four basic financial statements are; Balance Sheet, Income Statement, The Retained Earnings Statement and the Statement of Cash Flow. The Balance Sheet reports assets and claims to assets at a specific point in time. Claims to assets are subdivided into two categories: claims of creditors which are called liabilities and claims of owners which are called stockholders’ equity. The Income Statement shows how success or the failure of the company’s operations for a period of time. The Retained Earnings Statement shows the amounts and causes of chanes in retained earnings during the period. The time period is the same as the covered by the income statement. The Statement of Cash Flow is to provide financial information about the cash receipts and cash payments of a business for a specific period of time. This helps investors, creditors and other external users in their analysis of thhe company’s cash position, this statement reports the cash effects of the company’s operating, investing and financing activities. This statement also shows the net increase or decrease in cash during the period and the amount of cash at the end of the period. Managers use financial statements to see the performance of the company. On the income statement, managers compare sales and expenses from one period to the previous period to identify potential problem areas. Employees take a look at the income statement to maintain responsibility for managing certain expenses...
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...because of selective reporting of economic events as well as non-comparable accounting methods and estimates, financial statements are only an approximation of reality. In addition, because of the tendency to delay accounting recognition, financial statements also tend to lag reality.” (About Financial Statements, para. 1). The four financial statements are prepared in the sequence shown, for the following reasons: Net income is computed first and is needed to determine the ending balance in retained earnings. The ending balance in retained earnings is needed in preparing the balance sheet. The cash shown on the balance sheet is needed in preparing the statement of cash flows. The four financial statements from the summarized accounting data are: 1. An income statement presents the revenues and expenses and resulting net income or net loss of a company for a specific period of time. 2. A retained earnings statement summarizes the changes in retained earnings for a specific period of time. 3. A balance sheet reports the assets, liabilities, and stockholders’ equity of a company at a specific date. 4. A statement of cash...
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... 38,100 | (38,100) | 30 | (1,143,000) | | | | | | | | 3,805,500 | Total comprehensive income | $ 197,500 | $93,200 | | | 197,500 | | 9,730,500 | Retained Earnings 1/1 | $ 245,500 | $75,000 | b. 75,000 | | $245,500 | | 7,978,750 | Net income | 235,600 | 121,800 | | | 235,600 | 30 | 7,068,000 | Dividends | (100,000) | (42,600) | | a. 42,600 | (100,000) | 30 | (3,000,000) | Retained Earnings 12/31 | $ 381,100 | $ 154,200 | | | $ 381,100 | | 12,046,750 | OCI translation adjustment-1/1 | $0 | $0 | | | $ 0 | | | OCI for the year-translation adjustment | (38,100) | (28,600) | | | (38,100) | 30 | (1,143,000) | OCI translation adjustment-12/31 | $ (38,100) | $(28,600) | | | $ (38,100) | 30 | (1,143,000) | Other assets | $ 932,600 | $ 532,000 | | | $ 1,599,600 | 28.5 | 45,588,600 | Advance to P | | 84,000 | | d. 84,000 | 0 | | 0 | Investment In S | 551,600 | | | a. 26,600 b. 525,000 | 0 | | 0 | | | | | | | | | Patent | | | b. 150,000 | c. 24,000 | 126,000 | 28.5 | 3,591,000 | Payables | $ 392,200 | $ 190,400 | | | $ 582,600 | 28.5 | 16,604,100 | Advance from S | 84,000 | | d. 84,000 | | 0 | | 0 | Capital stock | 800,000 | 300,000 | b. 300,000 | | 800,000 | | 26,400,000 | Retained Earnings | 381,100 | 154,200 | | | 381,100 | | 10,978,750 | OCI | (38,100)...
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...operations on January 1, 2004. o During its first 3 years of operations, Lee reported net income and declared dividends as follows: | Net income | Dividends declared | 2004 | $ 40,000 | $ –0– | 2005 | 125,000 | 50,000 | 2006 | 160,000 | 50,000 | o The following information relates to 2007: Income before income tax: $240,000 Prior period adjustment: understatement of 2005 depreciation expense (before taxes): $ 25,000 Cumulative decrease in income from change in inventory methods (before taxes): $35,000 Dividends declared (of this amount, $25,000 will be paid on January 15, 2008): $100,000 Effective tax rate: 40% Lee Corporation | Retained Earnings Statement | For the Year Ended December 31, 2007 | Balance, January 1, as reported | $225,000* | | Correction for depreciation error (net of $10,000 tax) | (15,000) | | Cumulative decrease in income from change in inventory methods (net of $14,000 tax) | (21,000) | | Balance, January 1, as adjusted | 189,000 | | Add: Net income | 144,000** | | | 333,000 | | Less: Dividends declared | 100,000 | | Balance, December 31 | $233,000 | | *($40,000 + $125,000 + $160,000) – ($50,000 + $50,000) **[$240,000 – (40% X $240,000)] Common stock | $500 | Treasury stock | (-$200) | Additional paid-in principle | $1000 | Shares outstanding | 375,940 | Shares authorized | 500,000 | Shares in...
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...1988). What this means is that the purpose of accounting is to identify a company’s events, record those events in chronological order, showing which accounts are impacted by each event, and then communicate/report this information to interested parties in the form of financial reports. There are four basic financial reports that are typically used to report a business’ activities: Income statement, Retained earnings statement, Balance sheet, and Statement of cash flows. Each of these reports has a separate purpose, but is also interrelated. The income statement results in the net income, or net loss, of a company by presenting the revenues first and then the expenses, over a specific time period. If the revenues are greater than the expenses, a net income is reported, if not, then a net loss is shown. The result of the income statement is transferred to the beginning balance of the retained earnings statement. Without this figure, the retained earnings statement cannot be completed. The retained earnings statement summarizes the changes that affect the amount of earnings retained over a specific time...
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... He uses the idea of Jason’s business throughout the rest of the book. Every new concept that Greenblatt introduces, he comes back to Jason’s business and gives an example of how that concept could relate to Jason’s business. This gives the reader an easy understanding of how the different concepts that Greenblatt discusses affect certain businesses. Throughout the book, Joel Greenblatt discusses a “magic formula” to determine which stocks to invest in that will help you beat the stock market. He gives hard evidence that shows how this magic formula has not only worked in the past but why it will work in years to come. The “magic formula” consists of breaking down companies into two categories. The first category is price to earnings ratio. Greenblatt recommends...
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...The retained earnings formula is a calculation that derives the balance in the retained earnings account as of the end of a reporting period. Retained earnings is that portion of the profits of a business that have not been distributed to shareholders; instead, it is retained for investments in working capital and/or fixed assets, as well as to pay down any liabilities outstanding. The calculation is: + Beginning retained earnings + Net income during the period - Dividends paid = Ending retained earnings It is also possible that a change in accounting principle will require that a company restate its beginning retained earnings balance to account for retroactive changes to its financial statements. This will alter the beginning balance portion of the formula. It is quite possible that a company will have negative retained earnings. This can be caused by the distribution of a large dividend that exceeds the balance in the retained earnings account, or by the incurrence of large losses that more than offset the normal balance in the retained earnings account. There may be pressure from investors to issue a dividend if a company has built up a large balance in its retained earnings account over time, though this argument is not necessarily valid if the company still has profitable opportunities in which it can invest the excess funds. For example, ABC International has $500,000 of net profits in its current year, pays out $150,000 for dividends, and has a beginning retained...
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