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I’ve had a few requests for April/May Study Groups…March will be here before you know it.
In order to take an early April exam, you should begin studying…now. 🙂
Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE
You don't according to the rule of conservatism.
BEC - 5/26/2013 75 REG - 8/31/2013 82 AUD - 11/24/2013 74, 2/9/2014 92 FAR - 5/25/2014 85
NY CPA
Correct!
How do you calculate the operating cycle?
How are Note Receivables sold with recourse recorded in the financials?
AR days + Inventory Days
What is called when you subtract AP Days, Cash cycle?
DR Notes Receivable
CR Discount on the Note
CR Cash
I really have no idea, just taking a stab at it.
Forget failing the test because I get things wrong… lol.. I'm going to fail on the basis of getting thrown out due to talking to and/or yelling at myself the entire time!!
AUD: DONE FAR: DONE BEC: DONE REG: DONE
IM GOING TO BE A CPA!!!!!
I don't understand the question about the cash cycle. Are you asking for the term when you subtract AP days from the cash cycle?
CPAmommy – This formula
Formula
Cash Conversion Cycle = DSO + DIO − DPO
Where DSO is days sales outstanding, DIO is days inventory outstanding and DPO is days payables outstanding.
It can also be calculated if we already know the operating cycle:
Cash Conversion Cycle = Operating Cycle − Days Payables Outstanding
I wonder where in Gleim i'll learn about the operating cycle days and the cash conversion cycle. :-O
Oh okay. I am familiar with the formula I just didn't realize what was being asked. I'm tired and a little slow tonight apparently. 🙂
Option 1:Notes Receivable with corresponding contra account (NR Discounted)
or
Option 2: Remove from balance sheet and disclose contingent liability in the note to financial statements.
Interst cost included in the net persion cost recognized by an employer sponsoring a defined benefit pension plan represents the
A Amortization of the discount on unrecognized prior service costs
B Increase in the fair value of plan assets due to the passage of time
C Increase in the PBO due to the passage of time
D Shortage between the expected and actual returns on plan assets
A but shooting from my left toe
.