Terms in this set (16)
COGS = Begin - End + Purchases
COGS = Begin - End + Purchases - Discounts/Returns + TransportIn
Gross Margin =
GM = Net Revenue - COGS
FIFO Ending Inventory = ???***
LIFO Ending INV + LIFO Reserve
Ending A/R=Beginning A/R + Credit Sales - Cash Collections - Writeoffs
Ending Allowance=Beginning Allowance + Bad Debt Expense - Writeoffs
Long Term Investment=
Long Term Investment=Beginning Investment + Share of Net Inc - Share of Div - Share of Loss
Receivables Turnover =
Receivables Turnover = Net Sales/Average Net Trade AR
Depreciation Expense =?
Depreciation Expense =(Cost-Salvage Value)/Useful Life
Goodwill=Purchase Price - Fair NET Value of Assets
EndingPPE = Beginning PPE + Purchases - Sales - Impairments
Ending Accum Depreciation=
Ending Accum Depreciation=Beginning AD - Dep Expense - A/D of Sold PPE
What is the name of the board?
Public Company Accounting Oversight Board
When a firm disposes of a major component, what are the results called on the income statement?
SEC Form required quarterly name?
What organization oversees publicly traded firms to assure they follow GAAP?
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