Midterm: Generally Accepted Accounting Principles and Credit Card Receivables
Name________________________ Student #_____________________
L. Jean Dunn, Jr.
1. Describe the following finance career opportunities. (5 points)
Hedge Fund Manager Manage funds for high net worth individuals, family trusts and pension funds.
Investment Banker: An intermediary who arranges the sale of stock and bonds to raise capital for corporations. Also involved in arranging mergers and acquisitions of companies.
2. Draw a typical organization chart for a corporate finance department. Possibilities may or may not include: Chief Financial Officer, Marketing Analyst, Controller, Sales Administration and Analysis, Accounting Manager, Administrative Assistant, Accounting
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567 | | Accumulated depreciation | | (12,382) | | (11,555) | | Property and equipment, net | | 29,149 | | 25,493 | Other noncurrent assets | | 1,032 | | 999 | Total assets | | $ 46,630 | | $ 43,705 | Liabilities and shareholders' investment | | | | | Accounts payable | | $ 6,857 | | $ 6,625 | Accrued and other current liabilities | | 3,644 | | 3,326 | Unsecured debt and other borrowings | | 3,036 | | 119 | Nonrecourse debt collateralized by credit card receivables | | 750 | | - | | Total current liabilities | | 14,287 | | 10,070 | Unsecured debt and other borrowings | | 13,447 | | 11,653 | Nonrecourse debt collateralized by credit card receivables | | 250 | | 3,954 | Deferred income taxes | | 1,191 | | 934 | Other noncurrent liabilities | | 1,634 | | 1,607 | | Total noncurrent liabilities | | 16,522 | | 18,148 | Shareholders' investment | | | | | | Common stock | | 56 |