People
Where did Peter Siconolfi recently go on vacation?
a) Italy
b) Cape Cod
c) Alaska
d) Hoboken
c) Alaska
What is a reason we create accounts receivable and accounts payable aging schedules?
a) To get more practice
b) To compare is to how much cash we have on hand
c) To identify the amount of the accounts that are significantly past due
d) To run a regression analysis against each other
c) To identify the amount of the accounts that are significantly past due
Which of the following is not part of the income statement?
a) Earnings
b) Revenue
c) Taxes
d) Prepaid insurance
d) Prepaid insurance
What's the shortcut to select the full row?
Shift + Space Bar
What is the formula used to calculate LTM Apr-24 in our workbooks?
FY23 + YTD Apr-24 - YTD Apr-23
Who is the CEO of RSM?
a) Rachel Mickey
b) Brian Becker
c) Brian Niccol
d) Ira McGladrey
b) Brian Becker
Which of the following items should not impact an equity rollforward?
a) Dividends
b) Net income
c) Fixed asset purchases
d) Shareholder contributions
c) Fixed asset purchases
Which of the following is a reason we complete cash proofs?
a) To compare cash to other balance sheet accounts
b) To gain comfort over the Company’s reported revenue numbers
c) To identify related party transactions within the Company’s bank accounts
d) To practice excel
b) To gain comfort over the Company’s reported revenue numbers
What is the shortcut to move a tab?
Alt H O M
What do we label adjustments that we are unable to quantify?
+/- NQ
Name a fun fact about Dominic. (Hint, he's given you many.)
Which of the following is not a definitional NWC adjustment?
a) Cash
b) Accrued property taxes
c) Accrued interest
d) Debt
b) Accrued property taxes
Name each of the definitional EBITDA addbacks.
Interest, taxes, deprecation & amortization
In the AutoBook, what are always the items that make up Map 1 for the income statement and balance sheet?
1) Sales, cost of sales, operating expenses, other inc/exp
2) Assets, liabilities, equity
Provide an example of a type of expense that could be deemed nonrecurring.
Legal fees for one-time litigation, one-time consulting fees, transaction-related expenses, loss on asset disposal, personal expenses, etc.
What is the name of the QRM leader who moderated the TAS service lines panel in St. Charles?
Angie Joyce
Order the following items in order of liquidity (i.e., order the items are presented in the BS): A/P, equity, line of credit (current), notes payable (long-term), accrued expenses, A/R, prepaid expenses, cash
cash, A/R, prepaid expenses, A/P, accrued expenses, line of credit (current), notes payable (long-term), equity
% of net revenue columns are most effective to analyze which sub-schedule? Conversely, inc/dec columns are most effective to analyze which sub-schedule?
1) Cost of revenue
2) OPEX
What's the shortcut to properly re-sort pivot tables in the Autobook?
Alt A S D
Provide an example of a normalization adjustment.
Bonus normalization, commission normalization, bad debt normalization, payroll normalization, etc.
Who introduced our industry panel? He is the Industry Leader who most specifically enjoys consumer products.
Tom Martin
To exclude the credit card payable balance from adjusted WC, do we add or subtract this balance from reported WC?
Add
What is the calculation for DSO?
AR / (last quarter's revenue / 91 days)
Under "Pivot Table Options", what are the 2 things we need to select when setting up the pivot table for a manual schedule? Then, what do we need to select under Design -> Report Layout?
1) For empty cells, show 0.
2) Select "Classic PivotTable layout".
3) Repeat all item labels.
Management recorded the Company's annual FY23 bonus in December 2023 for $960 thousand, which we need to spread ratably across FY23. What is monthly FY23 bonus expense, as adjusted?
$80 thousand