Essay About Clear View Of A Company And 8-Kform 9-Kform 10-Kform 11-Ka Filing

Finc 44 – Chapter 18-21
Essay Preview: Finc 44 – Chapter 18-21
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CHAPTER 18What is the fourth step in the quick close?Document the ProcessDefer routine workEliminate duplicationClear out the junkWhat is the first step in the quick close?Document the ProcessDefer routine workEliminate duplicationClear out the junkWhat is the third step in the quick close?Document the ProcessDefer routine workEliminate duplicationClear out the junkWhat is the second step in the quick close?Document the ProcessDefer routine workEliminate duplicationClear out the junkSmaller stocks mean that the count can be taken, checked, and summarized more easily.Taking inventorySecuring creditCompleting the annual auditPreparing more accurate financial statementsThis is a quick review of how the process flows.Create a functional flowchartCreate a flowchartClear out the junkDefer routine workPrepare certain accounting entries on a standard basis and adjust periodically as in the case of depreciation and insurance.Set investigation levelsPrepare forms in advanceAutomate standard itemsAnticipate problemsIt should include a proper grouping of accounts to ensure uniformity in reporting, both between segments of the business and from period to period.Create a chart of accountsUse exception reportingCreate branch schedulesControl outputThe   _____________ must lead theprocess of constantly reducing the time and effort required to achieve a quality closing.Bank ManagerControllerTreasurerAccountantCreate as many allocation bases as possible before the end of the period.Reduce cycle timeDevelop distributionAnticipate problemsReplace serial activities with parallel activitiesA key component of the fast close.QuantityWork in ProcessOverheadQualityThis will minimize the problems of peak loads, trouble spots, and absenteeism.Train the staffControl outputDevelop distributionsSet investigation levelsProvide information to lenders, investors, and management that will not lead to incorrect decisions by those usersproduct of the accounting closeproduct of the quick closeproduct of the financial closeproduct of the fast closeAny user of the financial statement, usually lenders, investors, and management.ControllerTreasurerCustomerManagerDefined as “information that will not lead to incorrect decisions by the customer.”ControlQualityAccuracyTime19The U.S. government enables _________ to get a clear view of a company’s history and progress, and a glimpse of its future, through a set or required filings.InvestorsControllersAccountantsShareholdersThe U.S. Securities and Exchange Commission is established on:1932193319341935The Securities and Exchange Commission requires public companies to disclose meaningful financial and other information to the public, which enables investors to refer to a common pool of knowledge on a specific company in order to make sound and informed business decisions. TrueFalseKind ofGEGE na disBy collecting information from public companies, the Securities and Exchange Commission (SEC) is able to accomplish its primary mission; to promote the disclosure of important market-related information while maintaining fair dealing and protecting against fraud.TrueFalseMaybeGEGE na disThe ____________ provides insight into a company’s financial status, changes in executive leadership, or intentions to pursue a merger with another company.Broken FilingsSEC FilingsHard FilingsEmotional FilingsSome are the most common SEC Filings EXCEPT:Form 8-K Current Report FilingsForm 10-K Annual Report on a CompanyForm 10-Q Quarterly Report on a CompanyAll of the aboveThis filing includes information on recently announced news pertaining to a company and its business activities. Form 8-KForm 9-KForm 10-KForm 11-KA filing that includes information on the company’s business and services, acquisitions and investments, legal proceedings, executives’ and board member’s compensation and related party transactions, along with other comprehensive information about the dealings o the company during the past year.  Form 10-KForm 11-KForm 10-QForm 11-KA filing that requires companies to provide information on the planned use of capital proceeds, detail that current business model and competition, and provide a brief prospectus of the planned security itself, offering price methodology and any dilution that will occur to the other listed securities.Form S-1Form S-2Form S-3Form S-8This filing includes information on the company’s financial status during the preceding three months.Form 10-KForm 11-KForm 10-QForm 11-KForm S-3 is composed of TWO parts, the First Part is consists of a cover page, risk factors and a prospectus that will eventually be made available to all potential investors:TrueFalseKind ofGEGEThe Second Part of Form S-3 is consists of exhibits, undertakings and various other disclosures that are typically distributed to investors but are not made available to the public.TrueFalseMaybeGEGEA filing with the Securities and Exchange Commission (SEC) that is used by a publically traded company to register securities that will be offered to its employees via benefit or incentive plans. Form S-6Form S-7Form S-8Form S-9It is a real-time gross settlement system of central bank money used by Federal Reserve Banks to electronically settle final U.S. dollar payments among member institutions. FedwireLivewireWirelessLanwireIt is owned and operated by the 12 Federal Reserve Banks. It is a networked system for payment processing between the member banks themselves, as well as other participating institutions. Barbwire FedwireQuadwireStrawberry Wire20If the controller is to give quality information to management, then his or her ability to look objectively at the business is crucial.False                b. True                        c. None of the aboveThis indicates what share of the sales dollar is translated into profit. Industry averages are available from the Federal Trade Commission and the Securities and Exchange Commission for comparison purposes.Ratio of gross profit to net salesPercent operating margin as related to salesPercent return on net salesThis is a company’s after-tax net operating profit for the year, minus its cost of capital for that year. Any excess amount indicates that the company has created more wealth than it has used.Economic value addedMarket value addedPercent return on total capital employedThe board of directors and management use performance measures to judge and correct the performance of the company.False                b. True                        c. None of the aboveThis measure can be compared to the size of the market to determine if the company has changed its percentage share of the market. It can also be reviewed for sales changes based on volume or price increases.a. Percent increase in earnings per shareb. Percent increase in net incomec. Percent increase in salesThe debt indicators measure the firm’s ability to retain and pay for debt, EXCEPT _______.Times preferred dividends earnedPayables turnoverNumber of times fixed charges are earnedThis measure indicates the avoidance of stock dilution, the use of debt, the use of retained earnings, or the acquisition of a company with a lower price/earnings ratio.a. Percent increase in earnings per shareb. Percent increase in net incomec. Percent increase in salesThese ratios measure the firm’s ability to meet short-term obligations, EXCEPT ______.Ratio of gross profit to net salesCurrent ratioExpense coverage daysIt indicates how well a company generates cash relative to selected measures.a. Adequacy Ratiob. Sufficiency Ratioc. Efficiency RatioThe cash flow sufficiency ratio measures the ability of the entity to generate sufficient cash to pay its debts, reinvest in its operations, and pay dividends to the owners. A value in excess of 1 over a period of years reflects an ability to satisfactorily cover these principal cash requirements.a.  True                        b. False                        c. None of the aboveThe accuracy of all active labor routing files is necessary for the proper planning of production capacity requirements, without which it is impossible to adhere to a production schedule.Labor routing accuracyBill of material accuracyInventory AccuracyThis measure is especially useful in situations where the cost of acquiring new customers is high, so the importance of retaining existing customers is paramount.Sales per salespersonQuote to close ratioCustomer turnoverThe controller should periodically analyze the cost of various methods of selling (through distributors, direct sales, catalogs, etc.) versus the margin earned through each method of sale.Trend of sales quotasTrend of cost of distribution channelsTrend of amount of utilized storage spaceThe controller needs to use a different set of ratios when evaluating the performance of a JIT manufacturing system.True                        b. False                                c. None of the AboveThe inventory accuracy measure should be broken down into raw materials, WIP, and finished goods, so that slow turnover areas can be highlighted more easily.True                        b. False                                c. None of the above21C. 1. The main task of a controller is: a. To conduct o conduct a sufficiently detailed investigation into the causes of variations to write a detailed analysis of any problems, along with recommendations for changes.