Terminology Matching Long-Term Investments Ratio Analysis Depreciation Intangible Assets Current Liabilities Long-Term Liabilities Liquidity Ratios Solvency Ratios SEC IFRS Oversees U.S. financial markets and accounting standard- setting bodies Obligations to pay within the next year of the operating cycle Set accounting standards that have been adopted by many countries outside the United States Expresses the relationship among selected items of financial statements Allocation of the cost of an asset to a number of years Examples: Current ratio, working capital ratio Examples: Bonds payable, mortgages payable, long-term notes payable, lease liabilities, pension liabilities Measures the ability of the organization to survive over a long period of time Examples: Stocks and bonds that are held more than 1 year, land, buildings, long-term notes Examples: Goodwill, character, patents, copyrights, trademarks, accumulated amortization, FCC licenses

Terminology Matching Long-Term Investments Ratio Analysis Depreciation Intangible Assets Current Liabilities Long-Term Liabilities Liquidity Ratios Solvency Ratios SEC IFRS Oversees U.S. financial markets and accounting standard- setting bodies Obligations to pay within the next year of the operating cycle Set accounting standards that have been adopted by many countries outside the United States Expresses the relationship among selected items of financial statements Allocation of the cost of an asset to a number of years Examples: Current ratio, working capital ratio Examples: Bonds payable, mortgages payable, long-term notes payable, lease liabilities, pension liabilities Measures the ability of the organization to survive over a long period of time Examples: Stocks and bonds that are held more than 1 year, land, buildings, long-term notes Examples: Goodwill, character, patents, copyrights, trademarks, accumulated amortization, FCC licenses

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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