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(Updated)
Question 2.2. (TCO 2) Which of the following is not a requirement for a qualified pension plan? (Points : 6)
Question 3.3. (TCO 3) Which of the following is not included among the assumptions needed to estimate
postretirement healthcare benefits? (Points : 6)
Employee turnover
Expected retirement age of plan participants
Life expectancy of plan participants
Return on plan assets
Question 4.4. (TCO 4) A small stock dividend is defined as one that is (Points : 6)
Question 5.5. (TCO 5) The calculation of diluted earnings per share assumes that stock options were exercised an
that the proceeds were used to (Points : 6)
Question 7.7. (TCO 7) On October 31, 2003, our company changed the estimated useful life of its office equipm
from 15 to 10 years. This change would be accounted for (Points : 6)
prospectively.
retrospectively.
as an accounting error.
None of the above
Question 8.8. (TCO 8) When preparing the statement of cash flows using the indirect method, depreciation (Poin
6)
Question 9.9. (TCO 5) Which of the following is reported as an operating activity in the statement of cash flows?
(Points : 6)
1. (TCO 1) Please describe net operating loss carry-backs and carry-forwards and how
they can be used, and discuss how many years they can be used. (Points : 30)
2. (TCO 2) IAS 19 covers accounting for compensation plans. What are some
examples of how they differ from U.S. GAAP? (Points : 30)
3. (TCO 4) What are the two categories of stock dividends? How do they differ? How
are retained earnings and APIC impacted in each category? (Points : 30)
5. (TCO 7) Please describe how changes in accounting estimates are treated. What is
the rationale for this approach? What are some examples of accounting estimates?
(Points : 35)
6. (TCO 8) Drexon Corp., which follows U.S. GAAP, uses the direct method to report its
cash flows. The CFO is assessing the impact on cash flows of 4 events during the
fiscal year. Specify which category each event falls under (under the direct method)
and note whether it increases cash, decreases cash, or has no impact on cash.