Hedge accounting Study guides, Study notes & Summaries

WGU C708 Principles of Finance Exam 2023 Questions and Answers (Verified Answers) 1. The credit manager for a company is responsible for setting the company's credit policy regarding availability and limits for customers. What is one of the additional responsibilities of this credit manager? A. Purchasing insurance B. Collecting past-due accounts C. Monitoring accounts payable D. Investing excess cash B. Collecting past-due accounts 2. Which activity is financial management res...

Chapter 1 - Introduction to Accounting and Business True / False 1. A merchandising business buys products from other businesses to sell to customers. a. True b. False ANSWER: DIFFICULTY: LEARNING OBJECTIVES: ACCREDITING STANDARDS: True Easy Bloom's: Remembering ACCT.WARD.18. ACCT.ACBSP.APC.03 - Business Forms ACCT.AICPA.BB.01 - Industry ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic 2. The role of accounting is to provide many different users with financial information to make econ...

Agreed-Upon Procedures -Agree with client on procedures - Report outcome/findings from procedures (no conclusion, just findings) -Report distribution is limited -No opinion, so NO INDEPENDENCE REQUIREMENTS (yay!) Types of Consulting Engagements Consultations -using existing personal knowledge Advisory services - develop findings, conclusions, and recommendations Implementation services - put action plan into effect Transaction services - specific client transaction Staff support -...

What are Lease versus buy considerations? - Tax Benefits Accounting & Financial Reporting Budgetary Minimize Cash Outlay Obsolescence What are Options when a lease terminates? - Variations of Purchase, Renew, Return What are Differences between operating and true leases? - Operating lease meets none of the of FASB 13 criteria and has characteristics of a usage or rental agreement. True Lease meets none of the criteria for a lease intended as security for tax purposes and it may Or may no...

1. Trading on the NYSE is executed without a specialist (i.e. a market maker). (T/F): Ans- False 2. Stocks and bonds are two types of financial instruments (T/F): Ans- True 3. The matching principle in accrual accounting requires that:: Ans- Revenues be recognized when the earnings process is complete and matches expenses to revenues recognized. 4. A basic equation for the balance sheet is:: Ans- Equity = Assets - Liabilities 5. Why is the Balance Sheet known as a permanent statement?: Ans- ...

The difference between a hedge fund's trading net asset value and its accounting net asset value is that: - Answer- Trading NAV adjusts accounting NAV downward to account for illiquidity of a hedge fund's investments, such as positions that are large relative to trading volume. An additional risk of direct investment in real estate, which is not typically a significant risk in a portfolio of traditional investments, is: - Answer- liquidity risk A portfolio manager who adds hedge funds to...

Trading on the NYSE is executed without a specialist (i.e. a market maker). (T/F) - False Stocks and bonds are two types of financial instruments (T/F) - True The matching principle in accrual accounting requires that: - Revenues be recognized when the earnings process is complete and matches expenses to revenues recognized. A basic equation for the balance sheet is: - Equity = Assets - Liabilities Why is the Balance Sheet known as a permanent statement? - Because the other statements ar...

1. Welcome to Lululemon! We are happy to have you as a co-op student. The fundamental steps in the accounting process are those involved in the accounting cycle: Analyze transactions to determine if an economic exchange has taken place and, if so, journalize and post the transaction. An unadjusted trial balance is then prepared to help identify potential adjustments. Appropriate adjusting entries are journalized and posted and an adjusted trial balance is generated from which the financial...

CFA Level 3 Exam 204 Questions with Answers 2023 bounded rationality - CORRECT ANSWER individuals act as rationally as possible but are constrained by a lack of knowledge and cognitive ability satisfice - CORRECT ANSWER making a reasonable but not necessarily optimal decision the price is right - CORRECT ANSWER asset prices reflect and instantly adjust to all available information weak-form efficiency - CORRECT ANSWER prices inncoporate all past price and volume data semi-strong...

What is a Mortgage Backed Security - Answer-People in need of loans go to commercial bank for money/loan; commercial bank sells loans to IB for amount loaned out in return for rights of interest payments on loans; IB creates separate entity and issues shares (MBS) at a certain price to make a margin on their original payment to the commercial bank What is a Collateralized Debt Obligation (CDO) - Answer-IBs split mortgages into tranches (senior, mezzanine, equity) from least risky to most ri...