Review & Goodbye! von Clint Locke

(1)

Über den Vortrag

Der Vortrag „Review & Goodbye!“ von Clint Locke ist Bestandteil des Kurses „Financial Accounting: Understanding the Big Picture“. Der Vortrag ist dabei in folgende Kapitel unterteilt:

  • Conclusion

Quiz zum Vortrag

  1. The amount of expenses incurred by advertising.
  2. The nature of the capital investments made by the shareholders.
  3. The amount of cash used to purchase equipment.
  4. The number of shares outstanding.
  1. The balances of certain accounts at a moment in time.
  2. How much income the business made in a particular 12 month period.
  3. The amount of cash used to pay short term liabilities.
  4. The cash generated by investing activities.
  1. The statement of cash flows uses financial information from the income statement and balance sheet to reflect how a business used or provided cash.
  2. The statement of cash flows is an independent financial statement, which bears no relationship to the other financial statements.
  3. The statement of cash flows uses only the balance sheet accounts to determine how much cash was provided or used by the business.
  4. The statement of cash flows utilizes journal entries that are not on the other two financial statements to provide us with information about cash flow.
  1. It informs the reader how much income has been retained by the business since inception.
  2. It reflects the amount of income generated by the business in a 12 month period.
  3. It tells the user how much cash is available for use for dividends or investments.
  4. It reflects the amount of income generated by the business since inception.
  1. They all provide different information, but the information is connected in such a way that the user can tell how a business is operating.
  2. They all provide the same information in a different way.
  3. They all provide the same information and the information is connected in such a way that the user can tell how a business is operating.
  4. They all provide different information and the information is only connected between some of the financial statements.
  1. Income from the income statement is closed out at year end to the retained earnings account on the balance sheet and is used as a starting point on the statement of cash flows.
  2. The cash balance on the balance sheet ties out to the net income balance on the income statement and ties out to the year end cash balance on the statement of cash flows.
  3. The statement of cash flows starts out using the cash balance on the balance sheet and then uses many income statement accounts to adjust the cash balance.
  4. Net income from the income statement is closed out at year end to the retained earnings account on the balance sheet and ties out to the year end cash balance on the statement of cash flows.

Dozent des Vortrages Review & Goodbye!

 Clint Locke

Clint Locke

Clint Locke, JD, CPA (inactive), is a practicing tax attorney with over 10 years of accounting and legal experience.

He began his career as an auditor with Ernst & Young, LLP, one of “Big Four” public accounting firms. His experience as an auditor at Ernst & Young exposed him to thousands of financial documents and transactions in various industries.

He worked with numerous partners, CFOs and CEOs to issue financial statements in accordance with GAAP. After several years with Ernst & Young, Clint went to work with Cain, Watters, and Associates, as an associate financial planner. He was responsible for investment planning, tax planning and bookkeeping functions associated with small business clients.

He also worked with estate planning attorneys, contract attorneys and pension attorneys to achieve strategic solutions for wealth preservation. While working for Cain Watters, Clint got the law school bug.

After law school, he took a job with the IRS Office of Chief Counsel. As a tax attorney, Clint is constantly reviewing financial information, researching the legal aspects of accounting and tax, and litigating in U.S. Tax Court. Clint’s accounting knowledge combined with his legal expertise enables him to analyze and communicate accounting information in a way that everyone can understand.

Clint earned his BBA in Accounting from Freed-Hardeman University. He received his Juris Doctorate with cum laude honors from The University of Alabama School of Law. He is a member of the Texas State Board of Public Accountancy, Alabama State Board of Public Accountancy, Alabama State Bar, and is admitted to practice before the U.S. Tax Court.


Kundenrezensionen

(1)
5,0 von 5 Sternen
5 Sterne
5
4 Sterne
0
3 Sterne
0
2 Sterne
0
1  Stern
0

Quizübersicht
falsch
richtig
offen
Kapitel dieses Vortrages