Решить тест-
Английский язык в профессиональной сфере

Английский язык в профессиональной сфере.дпо

1 Expenses that have been recognized in the income statement but are not yet contractually due
- taxes payable
- interest payable
- wages payable
- accrued warranty expense
a. Accrued liabilities
b. Deferred tax liabilities
c. Trading securities
d. Simple capital structure
2 assets, liabilities, owner's equity
a. Statement of changes in equity
b. Examples of current liabilities
c. Statement of cash flows
d. 3 components of a balance sheet’
3 Used to reduce the value of its controlling account
a. Contra account
b. Outstanding shares
c. Net revenue
d. Treasury stock
4 Obligations in the form of promissory notes owed to creditors and lenders. Can be reported as noncurrent liabilities if matures in over a year
a. Notes payable
b. Accumulated OCI
c. Working capital
d. Proxy statements
5 Reports on the financial performance of a company over time
a. Prepaid expenses
b. Balance sheet
c. Fair value model
d. Income statement
e.
6 applies a constant rate of depreciation to an asset's (declining) book value each year
a. Measurement bases
b. Statement of changes in equity
c. Declining balance method
d. Financing cash flow
7 Revenue - Expenses = Net Income (or Net Loss)
a. Noncurrent liabilities
b. Net revenue
c. 3 components of a balance sheet
d. Income statement equation
8 Reports all changes in equity except for shareholder transactions
a. Allowance for doubtful accounts
b. 3 elements of an income statement
c. Income statement
d. Statement of comprehensive income
9 Proxy statement
a. Contributed capital
b. Form DEF-14A
c. Form 10-K
d. Value in use
10
- An asset is impaired if its carrying value exceeds the recoverable amount
- (IFRS: recoverable amount of an asset is the greater of fair value less any selling costs, or its value in use)
- If impaired, asset is written down to its recoverable amount and a loss is recognized in income statement
- Loss recoveries allowed under IFRS but not GAAP
a. Impairment
b. Trading securities
c. Identifiable intangible assets
d. Proxy statements
11
1. Start-up and training costs
2. Administrative overhead
3. Advertising and promotion costs
4. Relocation and reorganization costs
5. Termination costs
a. Specific indentation method
b. Forms 3, 4, and 5
c. Unidentifiable intangible assets
d. Under IFRS and GAAP, the following 5 items should be expensed as incurred:
12 - IFRS: assets that generate rental income or capital appreciation. Report at amortized cost (like PP&E) or fair value
- GAAP: no specific definition
a. Investment property
b. Working capital
c. Marketable securities
d. Diluted securities
13 Results in COGS between LIFO and FIFO
a. Weighted average cost method (expense recognition)
b. 2 characteristics that make financial information useful
c. long term debt to equity
d. Statement of comprehensive income
14 to use the information in a company's financial statements, along with other relevant information, to make economic decisions.
a. Financing cash flow
b. financial leverage
c. Financial statement analysis
d. Examples of current liabilities
15 Minority shareholders' pro-rata share of the net assets of a subsidiary that is not wholly owned by the parent
a. Outstanding shares
b. Simple capital structure
c. Liquidity-based format
d. Noncontrolling interest
16 the earnings per share a company would have based on the total number of shares including the effects of all stock options and convertible bonds
a. Financial reporting
b. Notes payable
c. Diluted EPS
d. Working capital
17# shares that have actually been sold to shareholders
a. Current ratio
b. Retained earnings
c. Accrued liabilities
d. Issued shares
18 Obligations that will be satisfied within one year or one operating cycle, whichever is greater. Meets any of the following criteria:
- Settlement is expected during the normal operating cycle.
- Settlement is expected within one year.
- Held primarily for trading purposes.
- There is not an unconditional right to defer settlement for more than one year.
a. Net realizable value
b. Current ratio
c. Accrued liabilities
d. Current liabilities
19 Revenues: inflows from delivering or producing goods/services
Expenses: outflows for delivering or producing goods/services or other operations
Other income: gains that may not arise from normal business
a. Statement of comprehensive income
b. 3 elements of an income statement
c. Components of shareholders' equity
d. PP&E under the revaluation model
20
1. State objective and context
2. Gather data
3. Process data
4. Analyze and interpret data
5. Report conclusions or recommendations
6. Update periodically
a. 6 steps of financial statement analysis framework
b. Cash flow from financing activities (CFF)
c. Under IFRS and GAAP, the following 5 items should be expensed as incurred:
d. Examples of non-current liabilities
21 Assets = Liabilities + Owner's Equity
a. Net realizable value
b. Effective tax rate
c. Fundamental accounting equation
d. Management's Discussion and Analysis
22 total assets / total equity (solvency)
a. Noncurrent assets
b. financial leverage
c. Unqualified opinion
d. total debt-to-equity
23cash + marketable securities + receivables / current liabilities --> liquidity
a. Retail method
b. Cash ratio
c. Gross profit
d. Quick ratio
24- Can be acquired separately or are the result of rights or privileges conveyed to their owner.
- Ex: patents, trademarks, and copyrights
- IFRS: Cost or revaluation (if active market exists) when purchased
- GAAP: Only cost model allowed
a. IFRS required financial statements
b. Identifiable intangible assets
c. Vertical common-size balance sheet
d. Deferred tax liabilities
1. 1. Identify the contract(s) with a customer.
2. Identify the separate or distinct performance obligations in the contract.
3. Determine the transaction price.
4. Allocate the transaction price to the performance obligations in the contract.
5. Recognize revenue when (or as) the entity satisfies a performance obligation.
*step process for recognizing revenue (under both IFRS and GAAP) 
*Other comprehensive income (OCI) 
*6 steps of financial statement analysis framework
2. Amount that remains after the direct costs of producing a good are subtracted from revenue
*Treasury stock
*Current ratio
*payable
*Gross profit
3. income statement items and changes in balance sheet accounts 
*Items on cash flow statement from two sources:
*Statement of cash flows
*Financial assets measured at fair value (mark-to-market accounting)
*3 components of a balance sheet
4. expresses each item of the balance sheet as a percentage of total assets. The common-size format standardizes the balance sheet by eliminating the effects of size. This allows for comparison over time (time-series analysis) and across firms (cross-sectional analysis) 
*IFRS required financial statements
*Vertical common-size balance sheet
*Statement of changes in equity
*Held-to-maturity securities
5. Principal portion of debt due within a year or operating cycle, whichever is greater 
*Current asset examples
*Other comprehensive income (OCI)
*Examples of non-current liabilities
*Current portion of long-term debt
6. Allocation of the cost of an intangible asset over its service life. Should match the proportion of economic benefits. Goodwill is not amortized but needs to be tested for impairment annually. 
*Amortization
*Current assets
*Retained earnings
*Accounts payable
7. Debt securities that are not expected to be held to maturity or sold in the near term. Unrealized gains/losses reported as OCI, not on income statement.
*Available-for-sale securities
*Last-In, First-Out (LIFO)
*Classified balance sheet
*Complex capital structure
8. Account that holds net income of the firm less dividends as stockholders' equity. Cumulative earnings that have not been paid out to shareholders as dividends. 
*Qualified opinion
*Prepaid expenses
*Retained earnings
*Diluted securities
9. - Often used in banking industry
- Present assets and liabilities in order of liquidity
- IFRS only 
*Noncontrolling interest 
*Liquidity-based format 
*Liquidity ratios 
*Straight-line depreciation
10. Provide info about long-term financing activities 
*Noncurrent liabilities
*Income statement equation
*total debt-to-equity
*Contributed capital
11. Cash effects of transactions that involve the normal business of a firm 
*Internal controls
*Operating cash flow
*Measurement bases
*Investing cash flow
12. Reports the company's cash receipts and payment 
*Declining balance method
*Contributed capital
*Outstanding shares
*Statement of cash flows
13. Securities having the potential to increase common shares outstanding; examples are options, rights, convertible bonds, and convertible preferred stock. 
*Diluted securities
*Accrued liabilities
*Financing cash flow
*Held to maturity
14. - Accounts payable
- Notes payable and current portion of long-term debt
- Accrued liabilities
- Taxes payable
- Unearned revenue 
*Examples of current liabilities 
*Examples of non-current liabilities 
*Components of shareholders' equity 
*Statement of changes in equity
15. bank loans, notes payable, bonds payable, derivatives
usually reported at amortized cost (issue price - principal payment - amortized discount/premium) reported at fair value when derivative liabilities or exposures hedged by derivatives
*Examples of non-current liabilities
*Noncontrolling interest
*3 elements of an income statement
*Long-term financial liabilities
16. Reported at fair value less any accumulated depreciation Changes in fair value reflected in shareholders' equity, and sometimes may be recognized in the income statement 
*Identifiable intangible assets
*Unidentifiable intangible assets
*Allowance for doubtful accounts
*PP&E under the revaluation model
17. The liability created by receiving cash in advance. Does not require a future outflow of cash like accounts payable. May be an indication of future growth as the revenue will eventually be recognized in the income statement. 
*Operating cycle
*Unearned revenue
*Period costs
*Accrued liabilities
18. The statements are presented fairly in conformity with GAAP
*Contributed capital
*Capital structure
*financial leverage
*Unqualified opinion
19. Provide info about the firm's investing activities
*Contra account
*Operating profit
*Noncurrent assets
*total debt-to-equity
20. inflows and outflows of cash resulting from the acquisition or disposal of long-term assets and certain investments 
*Items on cash flow statement from two sources:
*Cash flow from investing activities (CFI)
*6 steps of financial statement analysis framework
*Statement of changes in stockholders' equity
21. operating, investing, financing
*Noncurrent assets
*3 types of cash flows
*Effective tax rate
*long term debt to equity
22. inflows and outflows of cash resulting from transactions that affect a firm's net income 
*Cash flow from operating activities (CFO)
*Statement of changes in stockholders' equity
*Cash flow from financing activities (CFF)
*Cash flow from investing activities (CFI)
23. Tangible assets used in the production of goods and services. - IFRS: cost model or revaluation - GAAP: only cost model 
*Long-term financial liabilities 
*Property, plant, and equipment (PP&E) 
*Cash flow from financing activities (CFF) 
*Financial assets measured at cost
24. Securities, which upon conversion or exercise, increase earnings per share (or reduce the loss per share). Companies with complex capital structures will not report diluted EPS if the securities in their capital structure are antidilutive; they will report only the basic EPS number. 
*Deferred tax liabilities
*Cash and cash equivalents
*Antidilutive securities
*Vertical common-size balance sheet