ACCT 2000 Study Guide - Final Guide: Income Statement, Retained Earnings, Bank Reconciliation
Study Guide – Final Exam
Accounting 2000
Fall 2017
➢ Final Exam is worth 78 points; approx. 25% new material (income tax) and approx. 75%
old material (financial accounting ch 1-5 and 7 and managerial ch 14,18, and 21)
➢ All questions on the exam are multiple choice.
➢ There is a 2 hour time limit on the final exam.
Topics that will be covered on the final exam from old and new material are:
Tax Material:
Filing Status, Taxable Income, Deductions for AGI,
Exemptions, Itemized Deductions, Tax Rates, Tax Dates,
Standard Deductions
Chapter 1:
Accounting terminology, Forms of Businesses, Business
Activities, Financial Statements (income statement, stmt
of retained earnings, balance sheet)
Chapter 2:
Classified Balance Sheet
Chapter 3:
Transaction Analysis, Debit and credit procedures
Chapter 4:
Adjusting entries, Closing entries
Chapter 5:
Perpetual inventory system and entries
Chapter 7:
Bank Reconciliation and bank rec entries
Chapter 14:
Managerial vs. Financial Accounting, Management
functions, Manufacturing Costs, Product vs. Period Costs
Chapter 18:
Fixed vs. Variable Costs; Contribution Margin, CM Ratio,
Breakeven Concept, Breakeven Calculations; Target
Income
Chapter 21:
Budgeting Benefits, Essentials and Terms, Sales Budget,
Production Budget, Direct Materials Budget, Direct Labor
Budget, Cash Budget
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