Bal Sheet Ratio
working capital equation
what is current assets - current liabilities
Firms must provide anonymous reporting mechanism for fraud
What is whistle blower protection?
GAAP stands for
What is Generally Accepted Accounting Principles?
The 3 types of business activities
What is financing, investing, and operating?
Accounting equation
What is A = L + E
current ratio equation
what is current assets/current liabilities
SOX stands for....
What is Sarbanes Oxley Act?
FASB stands for
What is the Financial Accounting Standards Board?
Gross profit
What is revenue - COGS?
useful to compare liquidity among companies
What is current ratio?
People responsible for certifying the annual financial statements
Who is the CEO and CFO?
SEC stands for
What is Securities & Exchange Commission?
definition is cumulative earnings of a company over its lifespan
What is retained earnings?
RE equation
What is BEG RE + NI - Dividends = END RE
Gross Profit Ratio
What is gross profit/sales
People responsible for effective internal control and accuracy of the financial reporting
What is American Institute of Certified Public Accountants?
2 things that falls below income from operations
What is interest expense and other gains/losses?
Income from operations
What is sales revenue - COGS - operating expenses?
Returns on Sale (PM)
What is net income/sales
Name of organization that has power to regulate auditing firms
What is the PCAOB?
PCAOB stands for
What is public company accounting oversight board?
How the assets and liabilities accounts are listed in order of
What is the order of liquidity and when it's due?
Cash flow equation
What is cash from operating + investing + financing + cash at beginning of period = cash at end of period