BAR Drill

Cost and managerial accounting, financial analysis, technical accounting and government. Endless CPA-style questions with the work shown.

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BAR reference sheet

Breakeven units = fixed costs ÷ contribution margin per unit. Add target profit to fixed costs for target units.
Materials price variance = (AP − SP) × AQ. Quantity variance = (AQ − SQ) × SP. Positive is unfavorable.
High-low: variable rate = change in cost ÷ change in activity, using the highest and lowest activity levels.
Only avoidable, future costs that differ between choices are relevant.

Current ratio = current assets ÷ current liabilities. Quick ratio = (cash + marketable securities + receivables) ÷ current liabilities.
Inventory turnover = COGS ÷ average inventory. ROE = net income ÷ average equity.

Goodwill = consideration + fair value of NCI − fair value of identifiable net assets.
Equity method: investment + share of income − share of dividends.

Governmental funds: modified accrual, revenue when measurable and available (property taxes: within about 60 days).
Government-wide, proprietary and fiduciary: full accrual.