Crunching the
Numbers 101
Numbers 101
The accounting equation is Assets = Liabilities + __________?
What is equity?
The primary banking institution utilized by CFEMC.
What is Wells Fargo?
The frequency at which Corporate Incentive Goals are measured.
What is quarterly?
Unlike traditional corporations, cooperatives operate on a not-for-______ basis.
What is profit?
Was first chair Alto Saxophone in Junior and High School
Who is Veronica?
Gradually writing down the cost of an asset over its expected useful life.
What is depreciation?
The number of fraudulent capital credit checks that posted to CFEMC's bank accounts in 2024.
What is zero.
Corporate Incentive Goals that tie directly back to the members CFEMC serves.
What is Member Value?
CFEMC is owned and operated by this group.
What are members?
One of the best three vehicles ever driven was a John Deere tractor.
Who is Givens?
An independent review of financial statements by an external party is called this.
What is an Audit?
Positive Pay is a fraud prevention service requiring a three-way match of check #, ____, and _____.
What is amount and payee?
The Employee Value goal that accounting specifically coordinates.
What is "Timesheets to be completed and approved no later than 11am on Monday of payroll week and no later than 11am on the first working day of each new month for month end."?
This type of return is given back to cooperative members based on their usage of the co-op.
What is a patronage refund (or capital credit refund)?
Has no more secrets.
Who is Pat?
One of the two primary ratios monitored by CFEMC.
Internal control utilized by CFEMC spreading responsibilities of various processes across multiple employees.
What is separation of duties?
Corporate Incentive Goals that tie directly back to how well CFEMC provides continuous electric service to its members.
What is Reliability?
Member-elected group who oversees CFEMC's operations.
What is the Board of Directors?
Is on level 4,868 of the Word Crossy game.
Who is Shanda?
The bottom line of a cooperative's Statement of Operations is referred to as this.
What is Net Margins?
The name of the energy giant that went bankrupt in 2001 due to fraudulent accounting practices.
What is Enron?
The Employee Value goal requiring 100% attendance of employee participation monthly.
What are monthly safety meetings?
The number of internationally recognized principles that guide cooperatives.
What is seven?
Was severely stung by a jellyfish in FL with blisters lasting for almost 2 months.
Who is Brandee?