CAS3701 Assignment 11 (COMPLETE
ANSWERS) 2024 - DUE 13 September 2024
Financial statement
analysis
.Accounts Payable - ANSWER-amounts that the corporation must pay to suppliers in the future
.Accounts recievable - ANSWER-amounts to be recieved in the future from customers
.Accrual Accounting - ANSWER-idea that accountants usually record transactions when they occur, not
necessarily when cash is recieved or paid
.Accumulated Depreciation - ANSWER-total amount of depreciation expensed since the assets' date of
purchase
.Accumulated other comprehensive income - ANSWER-recorded in stockholders equity 1. unrealized
gains/losses on certain securities 2. Foreign currency translation adjustments 3. Certain gains/losses on
pension plans
.AICPAs - ANSWER-defines ethical behavior code of professional conduct
.Asset Turnover - ANSWER-Sales revenue/ total assets
measures how efficiently the company uses assets to generate revenue
, .Assets - ANSWER-items of value such as inventory and equipment are financed with liabilities(debt) or
stockholders' equity(owners' shares)
Assets= liabilities + stockholders' equity
.Audits - ANSWER-attest to whether a company's financial statements comply with the GAAP rules
.Balance Sheet - ANSWER-provides a snapshot of a company's financial position as of a certain date
.Basic earnings per share - ANSWER-companies divide net income by the actual average number of
common shares outstanding
.Cash and Cash equivalents - ANSWER-actual currency, bank accounts, and investments that can be
liquidated immediately
.Cash- Basis Accounting - ANSWER-records transactions when cash is recieved or paid
.common size income statement - ANSWER-compares all amounts within one year to revenue of that
same year
.Common-size balance sheet - ANSWER-compares all amounts within on year to total assets of that
same year
.Contributed Capital - ANSWER-amounts paid by stockholders to purchase common stock and preferred
stock
.Contributed capital (ending) - ANSWER-Contributed capital, beginning + issuance of shares -
(Repurchase to retire shares)
.Cost of Goods Sold - ANSWER-largest expense item which reports the wholesale costs of inventory sold
during the accounting period
ANSWERS) 2024 - DUE 13 September 2024
Financial statement
analysis
.Accounts Payable - ANSWER-amounts that the corporation must pay to suppliers in the future
.Accounts recievable - ANSWER-amounts to be recieved in the future from customers
.Accrual Accounting - ANSWER-idea that accountants usually record transactions when they occur, not
necessarily when cash is recieved or paid
.Accumulated Depreciation - ANSWER-total amount of depreciation expensed since the assets' date of
purchase
.Accumulated other comprehensive income - ANSWER-recorded in stockholders equity 1. unrealized
gains/losses on certain securities 2. Foreign currency translation adjustments 3. Certain gains/losses on
pension plans
.AICPAs - ANSWER-defines ethical behavior code of professional conduct
.Asset Turnover - ANSWER-Sales revenue/ total assets
measures how efficiently the company uses assets to generate revenue
, .Assets - ANSWER-items of value such as inventory and equipment are financed with liabilities(debt) or
stockholders' equity(owners' shares)
Assets= liabilities + stockholders' equity
.Audits - ANSWER-attest to whether a company's financial statements comply with the GAAP rules
.Balance Sheet - ANSWER-provides a snapshot of a company's financial position as of a certain date
.Basic earnings per share - ANSWER-companies divide net income by the actual average number of
common shares outstanding
.Cash and Cash equivalents - ANSWER-actual currency, bank accounts, and investments that can be
liquidated immediately
.Cash- Basis Accounting - ANSWER-records transactions when cash is recieved or paid
.common size income statement - ANSWER-compares all amounts within one year to revenue of that
same year
.Common-size balance sheet - ANSWER-compares all amounts within on year to total assets of that
same year
.Contributed Capital - ANSWER-amounts paid by stockholders to purchase common stock and preferred
stock
.Contributed capital (ending) - ANSWER-Contributed capital, beginning + issuance of shares -
(Repurchase to retire shares)
.Cost of Goods Sold - ANSWER-largest expense item which reports the wholesale costs of inventory sold
during the accounting period
