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Ratios

Who Cares?. Other Terms. Review Potpourri. Financial Reporting. Ratios. $ 100. $ 100. $ 100. $ 100. $ 100. $ 200. $ 200. $ 200. $ 200. $ 200. $ 300. $ 300. $ 300. $ 300. $ 300. $ 400. $ 400. $ 400. $ 400. $ 400. $ 500. $ 500. $ 500. $ 500. $ 500. Ratios - $100.

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Ratios

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  1. Who Cares? Other Terms Review Potpourri Financial Reporting Ratios $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

  2. Ratios - $100 Total Liabilities divided by Total Assets. What is the Debt-to-Assets ratio? Back to Board

  3. Ratios - $200 Net Income divided by Sales Revenue. What is the Net Profit Margin Ratio? Back to Board

  4. Ratios - $300 Sales Revenue divided by Average Total Assets. What is the Asset Turnover Ratio? Back to Board

  5. Ratios - $400 Directional effect on the Net Profit Margin Ratio if expenses are decreased, everything else remaining the same. What is Increase? Back to Board

  6. Ratios - $500 Directional effect on the Debt-to-Assets ratio if assets are purchased on credit (before the purchase the DTA ratio was greater than 1). What is decrease? Back to Board

  7. Financial Reporting - $100 A visual representation of the components needed for financial misconduct to occur. What is “The Fraud Triangle”? Back to Board

  8. Financial Reporting - $200 The name of the legislation introduced in 2002 intended to curb financial fraud. What is the Sarbanes-Oxley Act of 2002? Back to Board

  9. Financial Reporting - $300 The three categories of the fraud triangle. What is incentive, opportunity, and character (to rationalize)? Back to Board

  10. Financial Reporting - $400 Stronger internal controls are intended to reduce this aspect of the fraud triangle. What is “opportunities”? Back to Board

  11. Financial Reporting - $500 This is the type of audit opinion indicates the financial statements are prepared in accordance with GAAP. What in an Unqualified Audit Opinion? Back to Board

  12. Who Cares? - $100 This group of people use accounting information to run the business. Who are managers? Back to Board

  13. Who Cares? - $200 ______ elect ______ who oversee ______. Who are stockholders, directors, and managers? Back to Board

  14. Who Cares? - $300 DAILY DOUBLE!!!

  15. Who Cares? - $400 This group of people use information in a governance roll. Who are directors? Back to Board

  16. Who Cares? - $500 Terms in a loan-agreement (usually tied to some sort of accounting information) that, if broken, entitle the lender to immediate repayment or renegotiation. What are Loan Covenants? Back to Board

  17. Other Terms - $100 A more comprehensive version of the Statement of Retained Earnings. What is a Statement of Stockholders’ Equity? Back to Board

  18. Other Terms - $200 The type of income statement that includes more than one subtotal. What is multistep income statement? Back to Board

  19. Other Terms - $300 The part of the financial statements where information is presented about the accounting policies used by a company. What are Notes to the Financial Statements? Back to Board

  20. Other Terms - $400 The type of financial statements that includes more than one column. What is comparative financial statements? Back to Board

  21. Other Terms - $500 The four key elements of most business models. What are: obtain financing, invest in assets, generate revenues, and produce net income (p. 209)? Back to Board

  22. Review Potpourri - $100 Used to update the accounting records; relates to previously recorded transactions. What are Deferral Adjustments? Back to Board

  23. Review Potpourri - $200 After all temporary accounts have been closed, the balance in the Retained Earnings account agrees with the number calculated on this financial statement. What is the Statement of Retained Earnings? Back to Board

  24. Review Potpourri - $300 This account records the total amount of depreciation recorded against an asset since its purchase. What is Accumulated Depreciation? Back to Board

  25. Review Potpourri - $400 An account that is offset to, or a reduction of, another account. What is a Contra-Account? Back to Board

  26. Review Potpourri - $500 Accounts affected when you record the earning (but not the receipt) of interest. What are Interest Receivable (asset, debited) and Interest Revenue (revenue, credited)? Back to Board

  27. Daily Double • Specify Your Wager!

  28. Who Cares? --- People who use accounting information to value the business. Who are investors? Back to Board

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