Assignment
The comprehensive assignment will be taken during the final class session. The exam will contain approximately 25-35 multiple choice questions, with 3-4 problem s covering each course objective. The majority of the questions will involve calculations, journal entries, and financial statements. The exam will be taken without notes and books.
Topics on the comprehensive exam may include, but are not limited to the following:
- Journal entries:
* Stock issuance
* Treasury stock purchase
* Dividend declaration & distribution
- Prepare Statement of Cash Flows (indirect method)
- Financial ratios - categories, horizontal, vertical and analysis of these item s (no memorization of formulas)
- Compute Break-even and target profit figures without formulas provided
- Identify costs by behavior -fixed, variable, direct, indirect, overhead, prime, conversion, mixed
- Cost flows for job order processing system
- Understand difference between job order and pr ocess costing
- Components of master budget
- Prepare cash budget
- Prepare schedule of cash receipts or cash payments.