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Summary
Summary Formulas Becker Part 1
Preview 2 out of 12 pages
Part 1 Formula Reference Guide Term Formula Unit Absorption costing equation − Revenue Less: cost of goods sold − Gross margin Less: operating expenses (both fixed and variable) Net income 2 Accounting equation (or balance sheet equation) Assets = Liabilities + Owners' equity (or stockholders' equity) 1 Asset turnover Asset turnover = Sales Assets 4 Budgeted production Budgeted sales + Desired ending inventory – Beginning inventory Budgeted production 3 Cash budget Beginning cash + Cash collections from sales – Cash disbursements for purchases and operating expenses Ending cash balance – Cash requirements set by policy ± Working capital available for loan repayment or if negative, loan needed
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- December 12, 2023
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- 12
- Written in
- 2023/2024
- Type
- Summary
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