Concept – Common-Size Statements
Managerial Accounting
Garrison, Noreen, and Brewer
17th Edition
Which is correct regarding a common-size income statement?
Which is correct regarding a common-size income statement?
What is not a reason why managers would use financial statement analysis?
Which is not a limitation of professional financial statement analysis?
Match the term and the definition. (Credit sales into cash, 365 divided by accts rec turn, time from inventory to cash)
Match the term (dent to equity, common measure for creditors, fin leverage)
Suppose current assets is greater than current liabilities, when prepaying an expense at the end of the year it will effect what?
Temporary differences originate in a single period and then reverse in future periods.
The creation of deferred tax liabilities results from expenditures that are currently deducted in the tax return but not included in the income statement until future years.
Deferred tax assets and liabilities represent the tax impact of temporary differences between the financial carrying value and the tax basis of an asset or liability.
Deferred tax assets are created as a result of collecting rent in advance.