Topic 1: The Nature and Purpose of

Financial Accounting
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1. Accounting
2. American Institute of Certified Public Accountants (AICPA)
3. Balance Sheet
4. Bookkeeping
5. Certified Public Accountant
6. Financial Accounting
7. Financial Accounting Standards Board (FASB)
8. Financial Statements
9. Income Statement
10. Internal Revenue Service (IRS)
11. International Accounting Standards Board (IASB)

12. International Financial Reporting Standards (IFRS)

13. Managerial Accounting
14. Public Company Accounting Oversight Board (PCAOB)
15. Statement of Cash Flows
16. Accounting Equation
17. Accumulated Other Comprehensive Income
18. Assets
19. Balance Sheet
20. Book Value
21. Comparability
22. Conservatism
23. Consistency
24. Disclosure
25. Earnings Per Share (EPS)
26. Entity Concept
27. Expenses
28. External Audit
29. Financing Activities
30. Gains

31. Going Concern Assumption

32. Historical Cost Convention
33. Income Statement
34. Investing Activities
35. Liabilities
36. Liquidity
37. Losses
38. Materiality

39. Net Assets

40. Net Income
41. Net Loss
42. Notes to Financial Statements
43. Operating Activities
44. Owners' Equity
45. Paid-in Capital
46. Recognition
47. Relevance
48. Reliability

49. Retained Earnings

50. Revenue
51. Revenue Recognition
52. Statement of Cash Flows
53. Stockholders' Equity
54. Time Period Concept
55. Treasury Stock
56. Asset Turnover
57. Assets-to-equity Ratio
58. Average Collection Period
59. Cash Flow Adequacy Ratio
60. Cash Times Interest Earned Ratio
61. Common-size Financial Statements
62. Current Ratio
63. Debt Ratio
64. Debt-to-equity Ratio
65. DuPont Framework
66. Financial Ratios
67. Financial Statement Analysis
68. Fixed Asset Turnover

69. Leverage
70. Liquidity
71. Margin
72. Number of Days' Sales in Inventories
73. Price-earnings Ratio
74. Return On Assets
75. Return On Equity
76. Return On Sales
77. Turnover
78. Other Assets"
79. Accounts Payable
80. Accounts Receivable
81. Accumulated Depreciation
82. Accumulated Other Comprehensive Income
83. Additional Paid-in Capital
84. Asset
85. Asset Mix
86. Balance Sheet
87. Capital Lease Obligations

88. Cash
89. Common Stock
90. Current Assets
91. Current Liabilities
92. Current Portion of Long-term Debt
93. Deferred Income Tax Liability
94. Derivative
95. Disclosure
96. Equity
97. Executory Contract
98. Financing Mix
99. Intangible Assets
100.

Inventory

101.

Investment Securities

102.

Liability

103.

Long-term Debt

104.

Long-term Investments

105.

Noncontrolling Interest

106.

Par Value

107.

Preferred Stock

108.

Prepaid Expenses

109.

Property, Plant, and Equipment

110.

Recognition

111.Retained Earnings
112.

Short-term Loans Payable

113.

Stockholders' Equity

114.

Transaction Analysis

115.

Treasury Stock

116.

Unearned Revenue

117.

Valuation

118.

Accrual Accounting

119.

Comprehensive Income

120.

Cost of Goods Sold

121.

Discontinued Operations

122.

Earnings Per Share (EPS)

123.

Economic Value Added

124.

Expanded Accounting Equation

125.

Expenses

126.

Extraordinary Items

127.

Financial Capital Maintenance

128.

Gain

129.

Gross Profit

130.

Income From Continuing Operations

131.

Loss

132.

Matching

133.

Multiple-step Income Statement

134.

Net Income

135.

Operating Income

136.

Physical Capital Maintenance

137.

Restructuring Charges

138.

Revenue

139.

Revenue Recognition

140.

Sales

141.

Single-step Income Statement

142.

Cash Equivalents

143.

Direct Method

144.

Financing Activities

145.

Indirect Method

146.

Investing Activities

147.

Non-cash Investing and Financing Activities

148.

Operating Activities

149.

Pro Forma

150.

Statement of Cash Flows

151.

Cash Budget

152.

Audit Committee

153.

Control Activities

154.

Control Environment

155.

Control Procedures

156.

Detective Controls

157.

External Auditors

158.

GAAP Oval

159.

Generally Accepted Auditing Standards (GAAS)

160.

Income Smoothing

161.

Independent Checks

162.

Internal Auditors

163.

Internal Control Structure

164.

Internal Earnings Targets

165.

Organizational Structure

166.

Physical Safeguards

167.

Preventative Controls

168.

Public Company Accounting Oversight Board (PCAOB)

169.

Sarbanes-Oxley Act

170.

Securities and Exchange Commission (SEC)

171.

Segregation of Duties

172.

Capital Budgeting

173.

Controlling

174.

Cost-volume-profit (C-V-P) Analysis

175.

Differential Costs

176.

Direct Costs

177.

Direct Labor

178.

Direct Materials

179.

Evaluating

180.

Fixed Costs

181.

Indirect Costs

182.

Indirect Labor

183.

Indirect Materials

184.

Manufacturing Overhead

185.

Operational Budgeting

186.

Opportunity Costs

187.

Out-of-pocket Costs

188.

Period Costs

189.

Planning

190.

Product Costs

191.

Production Prioritizing

192.

Return On Investment

193.

Strategic Planning

194.

Sunk Costs

195.

Variable Costs

196.

Activity-based Costing (ABC)

197.

Batch-level Activities

198.

Cost Drivers

199.

Cost Pool

200.

Facility Support Activities

201.

Product-line Activities

202.

Unit-level Activities

203.

Visual-fit

204.

Break-even Point

205.

Contribution Margin

206.

Contribution Margin Ratio

207.

Cost Behavior

208.

Cost-volume-profit (C-V-P) Analysis

209.

Fixed Costs

210.

High-low Method

211.

Method

212.

Mixed Costs

213.

Operating Leverage

214.

Per-unit Contribution Margin

215.

Profit Graph

216.

Regression Line

217.

Relevant Range

218.

Return On Sales Revenue

219.

Sales Mix

220.

Scattergraph

221.

Stepped Costs

222.

Target Income

223.

Variable Cost Rate

224.

Variable Costs