This website uses cookies to ensure you have the best experience. Learn more

Fnc1 Essay

2104 words - 9 pages

Study Plan for FNC1

Financial Accounting Concepts and Procedures – Chapters 1-4 and Chapter 10
1. Understand Basic Accounting Concepts and Principles
2. Know what items are shown on a Balance Sheet, Income Statement, and Statement of Owners Equity
a. Items shown on Balance Sheet shows a companies:
i. Assets
ii. Liabilities
iii. Stockholder's (or owner's) equity
b. Items shown on Income Statement:
i. The income statement shows revenues
ii. Expenses
iii. Gains and losses
iv. It does NOT show cash receipts & cash disbursements
c. Items shown on Statement of Owner's Equity:
i. Paid-in Capital
ii. Retained Earnings
iii. Treasury Stock
iv. Accumulated Other Comprehensive Income ...view middle of the document...

A mortgage is an example.
d. Debentures – Unsecured bonds that are not backed by assts. Backed only by the good will of the bond issuer.
2. Make sure you understand Bond issue prices, Bonds issued at Par Value, at a Discount, and at a Premium.
a. Bond at Par Value – A bond issued at par has no discount or premium. AKA, bond maturity value. An example would be a $1,000 bond issued for $1,000
b. Bond at Discount – A price below maturity, par, value. An example would be a $1,000 bond issued for $980, a $20 discount.
c. Bond at Premium – A price above maturity, par, value. An example would be $1,000 bond issued for $1,015, a premium of $15.
3. Understand how to record interest expense when bonds are issued at par value, a discount, and a premium.
a.
Stocks and Dividends – Chapters 13
1. Make sure you understand dividends and dividend policies
a. Dividends:
i. Paid to shareholders
ii. Cash, property, stock, servers
iii. Each state permits when they are paid
iv. Paid in: retained earnings, net profits and surplus
b. Dividend Policies:
i. It’s the decision to pay out earnings versus retaining and reinvesting them. It includes the following elements:
1. High or low payout?
2. Stable or irregular dividends?
3. How frequent?
Statement of Cash Flows – Chapter 16
1. Know what a Statement of Cash Flows is
a. Statement of Cash Flow – Shows how cash amount has changed during the time interval shown in the heading of the statement.
2. Understand the Direct and Indirect Method for preparing a Statement of Cash Flows
a. Direct Method – AKA income statement method – Reports cash receipts and cash disbursements from operating activities. The direct method deducts from operating cash receipts and cash disbursement statement.
b. Indirect Method – Cash Flows from Operating Net Income.
i. + Depreciation expense
ii. + Loss on sale of long term assets
iii. – Gain on sale of long term assets
iv. – Increases in current assets other than cash
v. + Decreases in current assets other than cash
vi. + Increases in current liabilities
vii. – Decreases in current liabilities
3. Know the Categories shown on a Statement of Cash Flows.
4. Study the exhibit on page 940 for the indirect method. Know what gets added in and subtracted out from each section
Financial Statement Analysis and Ratios – Chapter 17
1. Know how to calculate a Horizontal and Vertical Analysis
a. Horizontal Analysis – Provides comparison from one period to the next, using financial statements from at least two distinct periods. Each line item has an entry in a current period column and a prior period column. These two entries are compared to show both the dollar difference and percentage change between the two periods.
b. Vertical Analysis – Shows relationship among components of one financial statement measured as percentages. On a Balance Sheet each asset is shown as percentage of total assets.
2. Understand the relationship of Accounts when performing a Horizontal and...

Other Papers Like Fnc1

Holidays In Albania Essay

1636 words - 7 pages Have you ever thought about having exciting and incredibly cheap vacations? Albania might be the right choice. According to My Travel Guide, Albania is ranked the fourth among ten places worth visiting in Eastern Europe (“Top 10 Eastern European Destinations”). One can encounter three kinds of vacations in this Mediterranean country: winter, summer, and cultural. The ideal places to spend your winter vacations are the Albanian Alps. They are

A Heart Of Darkness Essay

1748 words - 7 pages In this short story, there are frequent significant subject and ideas that make the story, "A Heart of Darkness," by Joseph Conrad, and haunting novel. The main theme is absolute white power over the natives. The theme validates the corruption, and the dependence caused by the white people as they took over the Congo. White men were giving all the power; they had no self-control, and in the end they did not use wisely. The white men became

The Aspects Of Vulnerability Among The Exploited In Medical Research

2287 words - 10 pages Essentially, everyone is in some state of vulnerability. However, some of us are more susceptible to harm due to our vulnerabilities. The susceptible are the individuals with the greatest risk. These individuals risk the loss of their autonomy, and maybe even their lives. Vulnerable populations can be found in every subset of society. However, as previously mentioned, there are some vulnerable populations that are at an even greater risk than

The Hitchhiker’S Guide To The Galaxy

1171 words - 5 pages The Hitchhiker’s Guide to the Galaxy As the human race makes life-changing discoveries, it is made apparent that there is always more to learn as the universe, instead of becoming familiar, is becoming absurd. The Hitchhiker’s Guide to the Galaxy, written by Douglas Adams, as well as the 2005 film adaption, portrays absurdity to be an all-encompassing system in the universe. Through the introduction and attempt to understand lack of reason, the

The Ford Motor Company Wage Increase Of 1914 And The Theory Of Incentives And Efficiency Wages

1252 words - 6 pages ‘It’s not the employer who pays the wages. Employers only handle the money. It is the customer who pays the wages’ (Henry Ford, cited in Johnson and Weinstein 2004, p. 2). When the Ford Motor Company announced that it would more than double the wages of its workers in January 1914 to a ‘five-dollar day’ minimum, was this a contradiction to Henry Ford’s statement? If customers are actually the ultimate payers of wages, then more than

Historical Analysis Of The Economical Breakthroughs Of The Industrial Revolution

1396 words - 6 pages A Historical Analysis of the Economical Breakthroughs of the Industrial Revolution During the Industrial Revolution, many elements of society experienced huge breakthroughs that would change the way they functioned forever. Economics were definitely one of them. With many new inventions and many factories appearing, many, many, more resources were being created than ever before. Also, all of the revenue from these resources was being given to

Leadership Portrayed in Monologue from Shakespeare’s Henry V

1214 words - 5 pages Leadership is defined as a socially constructed process and which also affect organizational future outcomes. Leader is someone at high position who have overall duty for an organization, she or he decide what to do and the way how to achieve it. (Carter and Greer, 2013)The role of leader is extremely important for an organization, leader use their own power to influence the followers though many different ways such as motivation in order to

Cuba Civil Rights

1906 words - 8 pages Picture a country that has limits on how much you can make random government imprisonments and more what do you do. That is the situation for the eleven million seventy-five thousand two hundred forty-four people of Cuba since the takeover of Fidel Castro. The US is opposed to Castro taking control of Cuba. Castro managed to ease the United States nerves when he said that Cuba was against all forms of communism. According to Lana Wylie the Union

US Freight System

1273 words - 6 pages General Environment Each American requires the movement of approximately 40 tons of freight per year across the freight network. This includes everything from shirts to lawn mower to orange juice. • As the U.S. population expands, the U.S. freight system will be called upon to meet the demands of a larger population • Between 2010 and 2035, the system will experience a 22 percent increase in the total amount of tonnage it moves • By 2050, with

Democratic Peace Theory

1852 words - 8 pages Intro: US Presidents have made it a goal during their term(s) in office to establish a good relationship with foreign countries and even try to improve upon existing connections with our allies. Some believe it is to prevent conflicts between the countries while others dispute that it is a threat assessment by the United States to pick and choose their friends and enemies. Preventing conflict between two democracies or countries that practice

Booker T. Washington

1621 words - 7 pages “Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome” –Booker T. Washing. Booker Taliaferro Washington was born in Hale’s Ford, Virginia on April 5th, 1856 to Jane Burroughs and an unknown White man. Washington was married three times. His first wife was Fannie N. Smith from Malden, West Virginia. Booker and Fannie were married in the summer of 1882 and had one child

Related Essays

Scanner Instructions Essay

4827 words - 20 pages Trioptic bar code 412356 is transmitted as ]X0412356 Programming Reference B-5 Table B-3. Modifier Characters (Continued) Code Type Code 128 Option Value 0 1 2 Option Standard data packet, no Function code 1 in first symbol position. Function code 1 in first symbol character position. ]C1AIMID I 2 of 5 Function code 1 in second symbol character position. Example: A Code (EAN) 128 bar code with Function 1 character FNC1 in the first

Freedom And Responsibility Essay

2141 words - 9 pages Built within the Constitution of the United States are specifically defined freedoms that are guaranteed to all citizens. Conversely, with every constitutional freedom there comes a corresponding responsibility. On September 25, 1789, the state legislature’s twelve proposed amendments were transmitted by congress, the first two dealing with congressional representation and congressional pay. The following numbers three through twelve were

Hate Crime Laws Essay

2348 words - 10 pages On June 7, 1998, 49-year-old James Byrd Jr. of Texas accepted a ride from three white men, who then beat him severely, urinated on him, chained him by his ankles to the back of their pick-up truck, dragged him for three miles into the countryside, and dumped his corpse in front of an African-American cemetery (Graczyk). A little over a year later, a jury sentenced ring leader John King to death by lethal injection (“Man Executed for Dragging

Rational Emotional Behavior Therapy Case Study Conceptualization And Treatment Plan

2140 words - 9 pages Rational Emotional Behavior Therapy Case Study of Sarah: A Conceptualization and Treatment Plan Rational emotive behavior therapy, REBT, was developed by Albert Ellis and holds the central belief that the events in our lives do not cause our disturbances but that they are instead caused by our view of the events (Murdock, 2009). Murdock (2009) states that “people are seen as responsible for their behavior” (p. 279) but, because they are