WALL STREET PREP FINANCIAL
STATEMENT MODELING CONCLUDING
REVIEW SHEET PRACTICE SOLUTION
BUNDLED FULLY VERIFIED ONE
HUNDRED PERCENT PASS GUARANTEED
⩥ Types of Intangible assets.
Answer: Customer lists
Franchise, membership, licenses
Patents and technology
⩥ Trademarks and good will are __________ because they are
considered to have indefinite useful life.
Answer: not amoritzed
⩥ Expenses associated with developing intangible assets
are_____________as they are incurred.
Answer: fully expensd
⩥ Stock based compensation expense.
,Answer: Expense of employee's salaries are embedded within
the expense categories based on the employee's job function
-same with stock based compensation
⩥ Other operating expenses/income.
Answer: Gains/losses on sales of fixed assets
Gains/losses from legal statements
Restructuring expenses and severance costs
Inventory write down
⩥ Non-operating income and expenses.
Answer: -Everything below operating profit
-Interest Expense
-Interest Income
-Usually represnted as Net Income Expense
⩥ Other non-operating income/expensea.
Answer: -income: increases in value and gains on sale on certain
financial instruments
-expenses: decreases in value and losses on sale on certain
investments and debt
, ⩥ Tax expense does not equal actual cash taxes paid.
Answer: Because of the ability of companies to defer certain
taxes, tax expense companies recognize on their income
statement does not equal acutal cash taxes paid that period
⩥ Net Income.
Answer: Measure of profitability on income statement income
after all expenses have been paid out
⩥ Shares Outstanding =.
Answer: Shares issued - Treasury Stock
⩥ Treasury stock.
Answer: stock that has beein issued then repurchased
⩥ Basic shares outstanding.
Answer: includes only actual shareholders
⩥ Diluted shares outstanding.
STATEMENT MODELING CONCLUDING
REVIEW SHEET PRACTICE SOLUTION
BUNDLED FULLY VERIFIED ONE
HUNDRED PERCENT PASS GUARANTEED
⩥ Types of Intangible assets.
Answer: Customer lists
Franchise, membership, licenses
Patents and technology
⩥ Trademarks and good will are __________ because they are
considered to have indefinite useful life.
Answer: not amoritzed
⩥ Expenses associated with developing intangible assets
are_____________as they are incurred.
Answer: fully expensd
⩥ Stock based compensation expense.
,Answer: Expense of employee's salaries are embedded within
the expense categories based on the employee's job function
-same with stock based compensation
⩥ Other operating expenses/income.
Answer: Gains/losses on sales of fixed assets
Gains/losses from legal statements
Restructuring expenses and severance costs
Inventory write down
⩥ Non-operating income and expenses.
Answer: -Everything below operating profit
-Interest Expense
-Interest Income
-Usually represnted as Net Income Expense
⩥ Other non-operating income/expensea.
Answer: -income: increases in value and gains on sale on certain
financial instruments
-expenses: decreases in value and losses on sale on certain
investments and debt
, ⩥ Tax expense does not equal actual cash taxes paid.
Answer: Because of the ability of companies to defer certain
taxes, tax expense companies recognize on their income
statement does not equal acutal cash taxes paid that period
⩥ Net Income.
Answer: Measure of profitability on income statement income
after all expenses have been paid out
⩥ Shares Outstanding =.
Answer: Shares issued - Treasury Stock
⩥ Treasury stock.
Answer: stock that has beein issued then repurchased
⩥ Basic shares outstanding.
Answer: includes only actual shareholders
⩥ Diluted shares outstanding.
