Final+Exam+Review


 * __Major sections__**

1. Valuation of accounts receivable under allowance method (estimating, writing off and recovering uncollectibles) using percentage of sales and percentage of receivables bases re: bad debts expense and allowance for doubtful accounts - 9.3

2. Amortization of capital assets including straight-line, declining-balance, double declining-balance, units of activity and revised amortization - 10.3, 10.4, 10.5

3. Admission of new partner and withdrawal of existing partner including private purchase of partner's interest and investment of assets in partnership with or without bonus to existing partners or new partners - 13.5, 13.6

4. Corporate declaration and payment/distribution of stock dividends and cash dividends - 15.1

5. Transaction analysis using fundamental accounting equation (A = L + OE) - 1.6

6. Shareholders' equity section of corporate balance sheet including contributed capital, additional contributed capital and retained earnings with emphasis on common and preferred share characteristics - ch. 14

7. Inventory costing including FIFO, LIFO and average cost - 6.5


 * __Minor questions__**

8. Corporate ratios - ch. 19

9. Cash flow statement - ch. 18

10. Inventory issues including freight charges on incoming and outgoing inventory, FOB shipping point and FOB destination and ownership of consigned goods - 6.1

11. Distribution of partnership income using SDNI - 13.3

12. Disposal of capital assets at gain or loss - 10.7

13. Internal control procedures - ch. 8

14. IFRS

15. Calculation of accrued interest on note payable - 11.2

16. Corporate bonds sold at face value, premium or discount - 16.2

17. Prior period adjustment (accounting error/policy change) and effect on retained earnings - 15.2

18. Non-typical items (discontinued operations/extraordinary items) on corporate income statement - 15.6

19. Employer payroll costs and employee payroll deductions - 11.2

20. CPA designation

21. Assorted vocabulary terms

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