Tesla | GAAP vs Non-GAAP Accounting | Revenue Recognition | Stock-Based Compensation | Random Accounting |
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Who is Elon Musk?
The current CEO of Tesla who joined in 2004.
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What is Non-GAAP Accounting?
A method, under which deferred revenue can be accounted for as revenue on the income statement.
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What are leases?
Due to Tesla's resale value guarantee program, under GAAP, this is how the sales with a buyback guarantee are accounted for.
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What is the income statement?
This is the financial statement where stock-based compensation is included.
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What is Strategic Applications in Accounting?
The official name for Accounting 495.
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What is Silicone Valley, California?
The place where a group of engineers founded Tesla.
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What is Non-GAAP Accounting?
A method, under which stock-based compensation can be completely excluded when providing accounting estimates.
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What is when realized/earned or when a performance obligation is satisfied?
This is when revenue should be recognized under GAAP.
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What is stock-based compensation?
A way in which corporations use stock or stock options to reward employees in lieu of cash.
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What is "Teslar"?
The name that Dr. McCoy calls the company Tesla.
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What is Roadster?
The name of the first fully electric vehicle Tesla released in 2008.
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What is GAAP Accounting?
A method, under which revenue is recognized when realized/earned.
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What is a liability account?
This is where the deferred revenue for Tesla sales are recorded on the balance sheet.
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What are operating expenses?
This is the main section of the income statement where stock-based compensation is accounted for.
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What is the accounting equation?
Assets=Liabilities+Owner's Equity
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What is $17?
The price of Tesla's initial public offering per share in 2010.
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What is GAAP Accounting?
A method, under which stock-based compensation is recognized as a non-cash expense on the income statement.
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What is revenue/net income?
An amount that was higher under Tesla's Non-GAAP accounting methods.
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What are selling, general, and administrative expenses?
For the third quarter of 2014, this is where the largest part of stock-based compensation is allocated.
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What is four?
The number of sections on the CPA Exam.
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What is less than 3 seconds?
The time it took for Tesla's Model S vehicle to go from 0 to 100 kilometers per hour.
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What is GAAP Accounting?
A method, under which stock-based compensation is allocated to relevant operating line items.
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What is sales revenue?
It is the account credited once unearned revenue is recognized.
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What is paid-in capital stock option?
When compensation expense is initially debited for employee stock option plans this is the associated credit account.
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What is 1,000?
The total points available in this class (Acc 495).
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