Assignment 19796261April 2, 2021
hollywood and beyond poster – Graduate Paper HelpApril 2, 2021
Please help solve the problem according to the book.
- How does Peter Drucker define profit?
- Define the term â€œcash basis accountingâ€.
- Define the â€œmatching principleâ€
- Describe the delivery company that purchased a truck in January and how it applies to the matching principle.
- Explain why the Income Statement does not account for the inflows and outflows of cash.
- Define the purpose of the Income Statement.
- List three alternative names for the Income Statement
- What time periods can the Income Statement cover?
- Public companies must follow GAAP in compiling financial statements TRUE/FALSE
- What is a Pro-forma Income Statement?
- Sales and Revenue on the Income Statement mean the same thing TRUE/FALSE
- Define the term â€œCost of Salesâ€.
- Why are footnotes considered to be an important part of the financial statements?
- What is the â€œOne Big Ruleâ€ when reading financial statements?
- In its simplest form, when can a company recognize a sale?
- In the example in the book, how did the software company manipulate revenue recognition?
- What is â€œchannel stuffingâ€?
- â€œThe most common source of accounting fraud has been and probably always will be _____________
- Define â€œdeferred revenueâ€.
- â€œAbove the lineâ€ on the Income Statement refers to what?
- â€œBelow the line on the Income Statement refers to what?
- Define â€œOperating Expensesâ€
- Operating expenses are often thought of and referred to as ________________
- How did Waste Management Inc. use depreciation to manipulate earnings?
- Why is depreciation and amortization considered a â€œnon-cash expenseâ€?
- Give an example of a â€œone time chargeâ€.
- Expenses should be listed on the Income Statement to assist management in analyzing the business. TRUE/FALSE
- Gross Profit varies by industry. TRUE/FALSE
- Compare the gross profit of a grocery business to a jewelry store.
- Define Operating Profit or EBIT
- List three ways Operating Profit can measure how well or poorly a company is being managed
- Why is EBITDA favored over EBIT by financial analysts?
- List the three legitimate fixes to a low net Profit
- What are the negative consequences of reducing Operating Expenses as a strategy to increase Net Profit?
- How can â€œexchange ratesâ€ adversely affect Net Profit?
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