Revised July 2008 ACC101 – CHAPTER 3 Preparing Financial Statements Page 1 of 21 Revised July 2008 Key Terms and Concepts to Know Accounting Period: Time Period Principle…

1. Tips for Year End Closing User Guide 10749 Pearl Rd., Suite 2A Strongsville, Ohio 44136 Ph: 440-846-8500 * Fx: 440-846-8505 * www.lbsi.com * email [email protected]…

Chapter 12 Reporting and Interpreting Investments in Other Corporations ANSWERS TO QUESTIONS 1. A short-term investment is one that meets the two tests of (1) ready marketability…

Chapter 15 “How Well Am I Doing?”--Statement of Cash Flows True/False Questions 1. An increase in inventory is classified as a “use” of cash for purposes of constructing…

CHAPTER 20 ACCOUNTING FOR PENSIONS AND POSTRETIREMENT BENEFITS IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual Answer F T F T T F F T F T…

Principles of Accounting HelpLesson #4 Adjusting Entries By Laurie L. Swanson This presentation is under development. Adjusting Entries Adjusting Entries bring certain account…

1. Introduction to Accounting 120 Chapter 4 The Simple Ledger 2. Review from Yesterday In this chapter, you will be learning the system used to maintain an up-to-date financial…

1. Week 5 2.  Also known as an accounting period.  It’s the period of time that business reports financial information.  Business determines the length of fiscal…

1. Chapter 3 ASSESSING LIQUIDITY AND OPERATIONAL EFFICIENCY 2. Background It is easier to understand a firm’s liquidity using a managerial balance sheet Emphasize the concerns…

1. Webinar onUnderstandingBalance Sheet andCash Flow Statement 2. 2 3. Session Agenda• Part I- Understanding the Balance Sheet– Balance Sheet Components and Presentation…