Problem 1: Perform a Horizontal Analysis on an Income Statement

You will be given 2 years of information. For the 2 years, you will be comparing them to see if the line items in the income statement increased (decreased) in dollars (change in dollars) AND calculate a percentage change (increase or (decrease)). The percentage change is calculated by dividing the dollar change by the OLDEST year presented.
Problem 2: Perform a Vertical Analysis on the Balance Sheet

You are given a Balance Sheet and you need to calculate the vertical analysis.
You are dividing every line item by a base. The base in the balance sheet is always TOTAL ASSETS.
Problem 3: Calculate Ratios; Evaluate Turnover; Liquidity; and Current Debt-Paying Ability

You are provided with partial balance sheet and income statements for 3 years. You need to calculate the following ratios for the 2 most recent years:
Current Ratio
Quick (Acid-Test) Ratio
Inventory Turnover & Days' Inventory Outstanding (DIO)
Accounts Receivable Turnover
Days' Sales in Average Receivables or Days' Sales Outstanding (DSO)
Accounts Payable Turnover and Days' Payable Outstanding (DPO)
Cash Conversion Cycle (in days)
Evaluate the company's liquidity and current debt-paying ability and determined if it's improved or deteriorated.
What would you try to improve for next year?
Problem 4: Compare Common-Size Income Statements for Two Companies

You are given 2 companies to analyze.
First, calculate a vertical analysis for each company. The vertical analysis in the income statement divides every line item by Net Sales (or Sales Revenue, whatever terminology is used for "sales")
Analyze the two companies and answer questions about the income statement and the vertical analysis' prepared for both companies.
Problem 5: Analyze Trends; Calculate and Interpret Ratios; Evaluate Earnings Quality

Perform a trend analysis' for specific accounts over the past 4 years. Using the oldest year given as the "base."
Determine if the trend in each area is favorable or unfavorable for the company.
Using the industry averages as benchmarks, analyze the company's performance over the past 3 years in the following areas:
Liquidity
Turnover
Overall Debt Payment Ability
Profitability
Evaluate the company's quality of earnings. Are there any red flags?

Net income
-------------------------
Net sales revenue =Net income %

都一千多分了。 只有 讨论环节被老师扣了四分。。。。

.QBW---a working company file
.QBM---a compressed company file(not a backup file)

Toggle to QuickBooks Pro
If you are using the trial version of the software provided with this course, your version of QuickBooks is likely showing the Accountant edition. You must toggle to Pro now and every time you start QuickBooks.

Choose FileToggle to Another Edition.
Click in the circle to the left of QuickBooks Pro and then click Next.
Click Toggle.
Restore a Portable Company File
Choose File and then choose the Open or Restore Company command.
In the future, a menu bar command like this will be written as Choose FileOpen or Restore Company.

Choose Restore a Portable File and then click Next.
Navigate to your file storage location, click the DYS_Chapter01 (Portable) file, and then click Open.
Click Next and then save the file to your storage location as: DYS_Chapter01 Average Guy Designs
It may take a few moments for the portable company file to open. If asked to update the file, choose Update Now.
Intuit provides maintenance releases throughout the lifetime of the product. These updates may require you to update your student exercise files before you begin working with them.
Type Password1 and click OK.
Click OK to close the QuickBooks Desktop Information window and then close the Accountant Center window and New Feature tour windows, if necessary.
For the rest of the Develop Your Skills exercises in this book, you can restore a portable company file or open a company file. This exercise showed you how to restore a portable company file. Use this process, as applicable, moving forward. Leave the company file open for the next exercise.

You can find the steps on how to open a DYS portable file in first DYS exercise in each chapter, although the steps will be the same for each chapter. Remember, when opening a new portable file for the first time, you must restore it and then save it under a new name.

True
Data entry is the same in QuickBooks whether you use accrual or cash basis accounting

True
Always back up your company file to a location NOT on the same hard drive as the original file

False
The cash basis accounting means the sale transaction is recorded when the sale is made, and expenses are recorded when they are incurred

False
QuickBooks for Mac has the same basic look as the Windows version, but the functions are different

False
Leann works for a nonprofit organization. At a past job she used QuickBooks CANNOT be used for nonprofits

False
Rahim is having trouble managing his small business's finances. His friend is encouraging him to purchase QuickBooks because, "You don't have to know anything about accounting. QuickBooks does all the work and prevents you from having any problems." Is what Rahim's friend is saying true or false?

True
The QuickBooks working file has the .QBW extension and is the company file.

False
The working QuickBooks company file, with the .QBW extension, is a compressed file

True
In QuickBooks, portable files must be restored before use

True
The active window will always appear at the top of the Open Window List

True
Subitems do NOT affect the accounting behind the scenes

False
To edit an existing transaction in QuickBooks, you void it and the re-create it

False
Lists in QuickBooks are used for storing your list of accounts

False
You CANNOT add information to a customer entry; you must enter the information into a job

False
You CANNOT edit a customer record after it has been created

True
You CANNOT merge more than two customer names at one time

True
Non-inventory items are tracked in the Cost of Goods account

True
Use a sales graph to display your sales by item, customer, or rep.

List Entries
What type of information can the Search feature help you find?

Item
Before you can add something to an invoice, it must be created as a(n):

第二章

False
You must print the check at the time you enter the transaction information into the Write Checks window

True
The Vendor List can be exported to contact management software, such as Microsoft Outlook

True
You CANNOT delete a vendor once you have used that vendor in a transaction

False
In the Enter Bills window, be sure to include internal notes in the first memo field and any information you want printed on the check in the second memo

False
When you make an item billable to a specific customer, the next time you invoice that customer, you must remember to manually enter the outstanding billable time and costs to the invoice becuase QuickBooks will NOT remind you

True
When selecting a payment date in the Pay Bills window, set the date the payment should be reflected in your bank and Accounts Payable

False
In the accrual basis of accounting, you do NOT have to use the Enter Bills and Pay Bills features in QuickBooks

True
QuickBooks will hold checks to be printed in a queue until you are ready to print a batch of them

True
To be sure check items print in the proper location, align the checks to your printer

True
Mitch is trying to pay a bill for the first time in QuickBooks, but the bank account from which he will draw the funds is NOT listed. Mitch needs to add the bank account to his Chart of Accounts
第三章

此学习集的词语(24)
False
Changing a transaction that has been cleared through reconciliation should NOT cause any problems

False
Using a debit card deducts funds from a checking account, which is an asset. This means the debit card normal balance is a credit.

True
Bank Feeds automatically download your transaction history and account balance

True
Each balance sheet account has it's own register

False
It is NOT necessary to indicate the main type of account when creating a new account

False
Deposits are the first step in the cycle if a sale

True
In QuickBooks, there is no limit to the number of credit cards you can use

False
All financial institutions offer bank feed services that integrate with QuickBooks

True
If you use a personal credit card ocassionaly for business purposes, you should NOT enter it into QuickBooks as business credit card

Discrepancies between QuickBooks and a bank statement
What does a reconciliation report show?

第四章

此学习集的词语(24)
True
You should create a separate QuickBooks company file for each tax return you file

False
In QuickBooks, the start date is the date your company began doing business

False
Never use the Advanced Setup option when creating a company file; that option is fot accounting professionals only

True
When creating a new company file based on an older one, QuickBooks allows you to keep the existing lists and preferences but removes the transactions

True
Company preferences affect the way the company uses QuickBooks to do business

False
Individual company preferences can be set by each user

True
In QuickBooks, all transactions are tied to an account

True
Transactions made prior to turning on the Class preference will NOT have a class assigned

True
The "Have a Question?" window changes depending on the active window

False
There is no limit to the number of users who can access a company file at a single time
第五章