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Class Notes for Accounting at Michigan State University

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ACC 411 Lecture 4: 4

Auditing Lecture Notes Chapter Four Professional Ethics 15e Opening Vignette Discussion Auditor wants to buy stock in his own successful client! Not allowed. Great privacy with the client. Discussion Topic Staff accountant...

Accounting
ACC 411
L.Jackson
ACC 411 Lecture 1: 1

Auditing Lecture Notes May 16 2016th Chapter One Demand for Audit Assurance Services why do we even have the assurance services? World com opening story, should always be read. Do not feel the need to memorize the details...

Accounting
ACC 411
L.Jackson
ACC 411 Lecture 3: 3

1Auditing Lecture Notes May 18 2016th Chapter Three Audit Reports 15 ed. Vignette Discussion Always make sure audit is completely appropriately done before report is issued CPAs usually experience lack of time to devote t...

Accounting
ACC 411
L.Jackson
ACC 411 Lecture 2: 2

Auditing Lecture Notes Chapter Two The CPA Profession 15e Vignette Discussion CPA Firms 4 Types (Table 21..pg. 26) 2011. 1. Big Four at first you learned a lot 2. National 3. Reginal Plante Moran. Moss Adams, BKD. 4. Large...

Accounting
ACC 411
L.Jackson
ACC 201 Lecture Notes - Lecture 2: Operating Lease, Accrued Interest, Deferred Tax

RE ZZ Chapter 21: Lessee Accounting Estimate (Prospectively): If capitalize lease: No entry to record correction, just record going Record depreciation and treat lease payments like forward. interest and principle. Reporti...

Accounting
ACC 201
j
ACC 202 Lecture Notes - Lecture 3: Opportunity Cost, Macroeconomics, Price Floor

Professor C.L. Ballard Fall Semester, 2015 ECONOMICS 201 IMPORTANT CONCEPTS FROM THE FIRST PART OF THE COURSE I. Introductory Concepts A. Economics is the study of how society chooses to use its scarce resources. When we s...

Accounting
ACC 202
Dr.Holden
ACC 308 Lecture Notes - Lecture 8: Treasury Stock, Cash Flow, Covered Call

Accrued interest= (Annual Coupon Duration is shorter than maturity *b= plowback ratio (1Dividend PMT)2 * (Days since last coupon for all bonds except zero coupon Payout ratio) PMTS) (days separating coupon bonds (its =) PM...

Accounting
ACC 308
Prof.Harrison
ACC 308 Lecture Notes - Lecture 8: Weighted Arithmetic Mean, Ask Price, Sharpe Ratio

Bank Discount Rate (Tbills): rBD (10,000P10,000) * (360n) Asked Price: (1Discount) * 10,000 Bond Equivalent Yield: rBEY(10,000P)(P) * (365n) Effective Annual Yield: rEAY[1+(10,000PP)] 365n1 Breakeven Taxable Return: rtaxab...

Accounting
ACC 308
Prof.Harrison
ACC 300 Lecture Notes - Lecture 6: Operating Expense, Financial Accounting Standards Board, Nestor (Encryption)

Income Statement (in thousands) Revenues: Sales 285,000 Interest revenue 17,000 Total revenue 302,000 Expenses: Cost of goods sold 149,000 Selling expense 10,000 Administrative expense 43,000 Interest expense 21,000 Incom...

Accounting
ACC 300
Wangerin D
ACC 201 Lecture Notes - Lecture 5: Capital Structure, Matching Principle, Gift Card

Accrued Liabilities and Contingent Liabilities (p119) Wednesday, December 16, 2015 12:36 AM Business Background • Businesses finance the acquisition of their assets from two external sources 1. Funds supplied ...

Accounting
ACC 201
Petroni Kathy
ACC 201 Lecture Notes - Lecture 4: Savings Account

Time Value of Money (p124) Wednesday, December 16, 2015 12:36 AM Time Value of Money • The value of money is not independent of when it is received Interest • Benefit from lending money • Cost of borrowing money ...

Accounting
ACC 201
Petroni Kathy
ACC 201 Lecture Notes - Lecture 2: Authorised Capital, Common Stock, Initial Public Offering

Stockholder's Equity (p141) Tuesday, December 15, 2015 8:54 PM Contributed Capital • Raised from investors Retained Earnings • Undistributed profits Capital Stock • Authorized ○ Maximum number of...

Accounting
ACC 201
Petroni Kathy
ACC 201 Lecture Notes - Lecture 7: Income Statement

Employee Stock Options (p165) Wednesday, December 16, 2015 12:36 AM ESOs • Call options on the employer's stock ○ Exercise Price § Price per share at which owner of a traded option is entitled ...

Accounting
ACC 201
Petroni Kathy
ACC 201 Lecture Notes - Lecture 3: High-Yield Debt, Interest Expense, Market Rate

Bonds (p136) Wednesday, December 16, 2015 12:36 AM Bonds are securities (sold) by a firm to others (creditors) to meet large cash needs of the firm Terminology • Bond issuer The firm issuing (selling) the...

Accounting
ACC 201
Petroni Kathy
ACC 201 Lecture Notes - Lecture 6: International Accounting Standards Board, International Financial Reporting Standards

International Accounting (p170) Wednesday, December 16, 2015 1:11 PM Various accounting standards used throughout the world • U.S GAAP ○ Issued by FASB ○ More standards ○ Less Flexibility ...

Accounting
ACC 201
Petroni Kathy
Permachart - Marketing Reference Guide: Statement Of Changes In Equity, Retained Earnings, Cash Cash

permacharts MT FINANCIAL STATEMENTS • Financial statements are documents that are BALANCE SHEET (B/S) STATEMENT OF RETAINED EARNINGS (SRE) ...

Accounting
ACTG 2010
All Professors
Accounting II - Reference Guides

Advance your knowledge with our advanced Accounting II! This companion Guide to Accounting I develops the reader’s understanding of balance sheets before moving into an effective summary of how assets are treated for accou...

Accounting
ACTG 2010
All Professors
Cost Accounting - Reference Guides

Specialized Accounting quick reference information in one handy place! This Guide provides specialized reference material that flows naturally from the contents of its companion Guides Accounting I and Accounting II. The t...

Accounting
ACTG 2010
All Professors

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