2. Ratios Other Terms Review Potpourri $100100$100100$100100 $200200$200200$200200 $300300$300300$300300 $400400$400400$400400 $500500 Who Cares? $400400 $100100 $200200 $300300 $500500 Financial Reporting $100100 $200200 $300300 $400400 $500500$500500$500500

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

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

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

6. 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

7. 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

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

9. Financial Reporting - $200 The name of the group that introduced legislation intended to curb financial fraud. What is the Canadian Securities Administrators? Back to Board

10. Financial Reporting - $300 The three categories of the fraud triangle. What is incentive, opportunity, and personality? Back to Board

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

12. Financial Reporting - $500 This group has the primary responsibility of setting GAAP in Canada and produces the CICA Handbook. What in the Canadian Accounting Standards Board (AcSB)? Back to Board

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

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

15. Who Cares? - $300 DAILY DOUBLEDAILY DOUBLE!!!

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

17. 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

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

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

20. 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

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

22. Other Terms - $500 The standards that must be used for financial statement reporting by public corporations in Canada. What are International Financial Reporting Standards (IFRS)? Back to Board

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

24. Review Potpourri - $200 Back to Board 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?

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

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

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

28. Daily Double Specify Your Wager!

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