Managerial Accounting Exam 1 Wileyplus| 109 Questions| With Complete Solutions

Managerial accounting exam 1Included as part of general-purpose financial statements?Company webcasts>>> Not includedIncluded as part of general-purpose financial statements?Income statement>>> IncludedIncluded as part of general-purpose financial statements?Company news releases>>> Not includedIncluded as part of general-purpose financial statements?Financial statement notes>>> IncludedIncluded as part of general-purpose financial statements?Prospectus>>> Not includedIncluded as part of general-purpose financial statements?Balance sheet>>> IncludedIncluded as part of general-purpose financial statements?Stock price information and investor analysis>>> Not includedIncluded as part of general-purpose financial statements?Press releases on change of board of directors>>> Not includedStandard of comparison:Industry>>> Compare McDonald's profit margin to the fast food industry profit marginStandard of comparison:Intracompany>>> Compare Netflix's current year sales to its prior year salesStandard of comparison:Competitor>>> Compare Amazon's cost of goods sold to Walmart's cost of goods soldStandard of comparison:Guidelines>>> Compare a company's times interest earned to the rule of thumb of 2 times interest earnedIn the current year, Aveeno reported net income of $54,320, which was a 12% increase over prior year net income Compute prior year net income>>> $54,320=1.12*prior$54,320/1.12=$48,500Percent change=>>> Dollar change/ Base period amount *100Dollar change=>>> Analysis period amount - base period amountTrend percent=>>> Analysis period/ base year *100Common-size percents=>>> Analysis period cost of goods sold/ analysis