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Chapter19: Share-Based Compensation and Earnings Per Share

CPA Simulation 19–1

Test your knowledge of the concepts discussed in this chapter, practice critical professional skills necessary for career success, and prepare for the computer-based CPA exam by accessing our CPA simulations at the text website: www.mhhe.com/spiceland6e.

   The Houston County Energy simulation tests your knowledge of a variety of earnings per share and sharebased compensation reporting issues.

   As on the CPA exam itself, you will be asked to use tools including a spreadsheet, a calculator, and professional accounting standards, to conduct research, derive solutions, and communicate conclusions related to these issues in a simulated environment.

Houston County Energy

EPS and Share-Based Compensation


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CPA Review

   Specific tasks in the simulation address:

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Calculating basic and diluted earnings per share.

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Applying judgment in deciding the financial reporting implications of the issuance, exercise, and expiration of stock rights and the conversion of preferred shares.

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Demonstrating an understanding of appropriate financial statement reporting of earnings per share.

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Analyzing the financial statement effects of treasury stock transactions.

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Communicating the financial reporting implications of stock options.

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Researching the purpose of and procedures for a quasi-reorganization.

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