Premium Essay

Financial Reporting - Cpa - Index

In: Business and Management

Submitted By caseysbond
Words 2656
Pages 11
Framework, The | 1.06 | Globalisation of financial markets | 1.06 | Financial markets, Globalisation of | 1.06 | Technological Innovation | 1.06 | Financial Innovation | 1.07 | Reduction of Barriers to Capital Flows | 1.07 | Convergence of GAAP | 1.07 | GAAP, Convergence of | 1.07 | Role of a framework of accounting | 1.07 | Framework of Accounting, Role of a | 1.07 | Positive Theories | 1.07 | Descriptive Theories | 1.07 | Normative Theories | 1.08 | Prescriptive Theories | 1.08 | Developing Fin Reporting Standards | 1.09 | Regulatory Capture | 1.09 | Private Interest Theory | 1.09 | Deductive Approach | 1.09 | Principles Based Approach | 1.09 | Impairment of Assets | 1.09 | Limitations of a framework | 1.10 | O'Connell (2007) | 1.10 | Walker (2003) | 1.10 | Miller (1985) | 1.10 | Miller & Redding (1986) | 1.10 | Social Constraints | 1.11 | Political Constraints | 1.11 | Constraints, Social & Political | 1.11 | Hines (1991) | 1.11 | Chatov (1975) | 1.12 | Clarke et al. (2003) | 1.12 | Dean & Clarke (2003) | 1.12 | Human Resource Constraints | 1.12 | Professional Judgement | 1.12 | Booth (2003) | 1.13 | Development of IFRS | 1.14 | Standard Setting Arrangements | 1.14 | Domestic Adoption of IFRS | 1.14 | Adoption of IFRS | 1.14 | IFRS, Domestic Development of | 1.14 | IFRS for SME's | 1.15 | Bradbury (2003) | 1.16 | Objective of financial reporting | 1.16 | Financial reporting, objective of | 1.16 | Decision usefulness objective, Limit | 1.19 | Limitations of Decision making obj. | 1.19 | Oliver (2003) | 1.19 | Clarke & Dean (2007) | 1.19 | Lack of familiarity | 1.19 | Familiararity, Lack of | 1.19 | Multiple Interpretations | 1.19 | Reporting Entities | 1.20 | Underlying assumptions of fin. Report | 1.21 | Qualitive Characteristics of fin. Report...

Similar Documents

Premium Essay

Ifrs Paper

...two years may have difficulty.) Prerequisites: BMGT 110 (or at least two years of business or management experience) and ACCT 221. A comprehensive analysis of financial accounting topics involved in preparing financial statements and in external reporting. Students may receive credit for only one of the following courses: ACCT 310 or BMGT 310. Course Goals/Objectives This course should help you develop the ability to apply GAAP to a variety of complex accounting and financial reporting situations. The specific goals of this course are to: • provide a more extensive understanding of financial accounting principles and procedures and their role in the managerial decision-making process, through (a) the textbook and other written materials, (b) discussion of accounting topics via Web conferencing and online case study assignments, (c) research on the World Wide Web, and (d) FARS / Financial Accounting Research System • present financial accounting processes, procedures, terminology, concepts, and case studies • provide a higher level of problem-analysis and problem-solving ability through the use of CPA-level professional accounting materials After completing this course, you should be able to: • solve problems by analyzing, calculating, and completing accounting exercises covering topics of financial reporting • apply accounting concepts, principles, and procedures to business, international, and ethical transactions and events, through real-world case studies......

Words: 1838 - Pages: 8

Premium Essay

Aicpa

... Mintz, DBA, CPA Professor of Accounting California Polytechnic State University, San Luis Obispo Roselyn E. Morris, PhD, CPA Chair and Professor of Accounting Texas State University-San Marcos Boston Burr Ridge, IL Dubuque, IA Madison, Wl New York San Francisco St. Louis Bangkok Bogota Caracas Kuala Lumpur Lisbon London Madrid Mexico City Milan Montreal New Delhi Santiago Seoul Singapore Sydney Taipei Toronto Table of Contents Chapter 1 Integrity: The Basis for Ethics in Accounting 1 What Is Ethics? 1 Definition 1 Application of Ethical Reasoning in Accounting DigitPrint Case 33 32 Conclusion 34 Discussion Questions 34 Endnotes 36 Chapter 2 Cases 37 2 Case 2-1: A Faulty Budget 38 Case 2-2: Better Boston Beans 39 Case 2-3: Eating Time 40 Case 2-4: Is Internal Whistle-Blowing "Right"? Case 2-5: Play Ball 43 Case 2-6: Supreme Designs, Inc. 44 Case 2- 7: The City of West Buckle 46 Case 2-8: The CPA Review Course 47 Case 2-9: The Ethics ofiPod-ing 48 Case 2-10: The Tax Return 49 Distinguishing between Ethics and Morality Religious and Philosophical Foundations of Ethics 3 Teleology 4 Deontology 6 41 Acting with Integrity Personal Integrity 8 7 The Moral Point of View 7 The Six Pillars of Character.... 8 Trustworthiness 8 Respect 10 Responsibility 10 Fairness 11 Caring 11 Citizenship 12 Chapter 3 Ethical Decision Making in Business 50 What Is Business Ethics? 51 Ethical Issues in Business 51 Virtue, Character, and CPA Obligations......

Words: 1401 - Pages: 6

Premium Essay

Accounting

...1 Financial Reporting Overview Chapter 1 is an overview chapter covering accounting users, financial reporting, GAAP, accounting organizations, the conceptual framework, accounting careers, and ethics. The topics are wide ranging and very heavy on the new terminology side of things. Although it is a good chapter for introductory purposes, the concepts and organizations covered are so extensive that it will make a good chapter to come back to later, or at the end of intermediate accounting, to review. In fact, many parts of the chapter will make more sense and come together in your mind better only after you have dealt with specific details and examples in later chapters. Focus mostly on the terminology at this point in time. Making sense of it all will be easier later on. The final section on accounting careers and ethics may make for some interesting reading, but don’t expect to be tested much on it. The conceptual framework will probably get the bulk of the examination questions, both for this class and for the CPA exam. As such, understanding Exhibit 1-5 in the textbook is very important. Learning Objectives Refer to the Review of Learning Objectives at the end of the chapter. It is crucial that this section of the chapter is second nature to you before you attempt the homework, a quiz, or exam. This important piece of the chapter serves as your CliffsNotes or “cheat sheet” to the basic concepts and principles that must be mastered. If after......

Words: 9014 - Pages: 37

Premium Essay

Cga Pa2

...Glossary Notes: Note 1: CPA Canada Handbook Part I applies to publicly accountable enterprises, CPA Canada Handbook Part II ASPE applies to private enterprises; CPA Canada Handbook Part III ASNFPO applies to not-for-profit organizations. CPA Canada Handbook Part IV ASPP applies to pension plans. For governments and government organizations, see under Public Sector Accounting (PSA) Handbook for details of what applies. Note 2: Part II and V Definitions may not be identical — check the CPA Canada Handbook – Accounting. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Abnormal earnings Also referred to as unexpected earnings. Differences between the expected value of earnings and the actual realized. Absorption costing Absorption costing is a method of assigning costs to inventory. It includes fixed overhead costs in addition to variable overhead costs added to direct materials and direct labour to calculate unit cost. Accelerated depreciation Accelerated depreciation is a method of allocating the cost of an asset in which the annual depreciation amounts are larger in an asset’s early years and decrease over time. An example of accelerated depreciation would be the double-declining balance method. Access controls Procedures designed to restrict access to online terminal devices, programs, and data. Access controls consist of ”user authentication” and ”user authorization.” Account Place within an accounting system where the increases and decreases in a......

Words: 116560 - Pages: 467

Premium Essay

Accountancy

...WILEY CPA EXAM REVIEW Financial Accounting and Reporting F O U R T H • concepts • problem-solving E D I T I O N • terms • rules Less Antman and criteria WILEY CPA EXAM REVIEW Financial Accounting and Reporting F O U R T H • concepts • problem-solving E D I T I O N • terms • rules Less Antman and criteria Copyright © 2006, by John Wiley & Sons, Inc. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-750-4470, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, 201-748-6011, fax 201-748-6008, or online at http://wiley.com/go/permission. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness......

Words: 18827 - Pages: 76

Premium Essay

Love or Hate?

...structure had been obtained to plan the audit and to determine the nature, timing and extent of tests to be performed. d. Basis in choosing the members of the audit engagement team. 3. When planning an audit, which of the following is not a factor that affects auditors' decisions about the quantity, type, and content of audit working papers? a. The auditors' need to document compliance with financial reporting standards. b. The existence of new sales contracts important for the client's business. c. The auditors' judgment about their independence with regard to the client. d, The auditors' judgments about materiality. 4. An audit working paper that shows the detailed evidence and procedures regarding the balance in the accumulated depreciation account for the year under audit will be found in the a. Current file evidence working papers. b. Permanent file working papers. c. Administrative working papers in the current file. d. Planning memorandum in the current file. 5. The audit working paper that reflects the major components of an amount reported in the financial statements is the a. Interbank transfer schedule. c....

Words: 1823 - Pages: 8

Premium Essay

Auding Internal Control

...AUD Auditing & Attestation Roger Philipp, CPA AUDIT Written By: Roger Philipp, CPA Roger CPA Review 1288 Columbus Ave #278 San Francisco, CA 94133 www.RogerCPAreview.com 415-346-4CPA (4272) AUDIT Table of Contents Introduction…………………………….………………………………..………………1 AUDIT-1 Audit Standards & Planning…………………………………………….…………….…...2 AUDIT-2 Internal Control…………………………………………………………………….………...3 AUDIT-3 Audit Evidence…………………………………………………………….………………....4 AUDIT-4 Audit Sampling.......................................................................................................…...5 Audit Reports........................................................................................................…....6 AUDIT-5 Compilations and Reviews (SSARS)……………………………………….…………….7 Other Services and Reports………………………………………………….…………….8 Information Technology (IT)……………………………………………………..…………9 Appendix AICPA Released Questions……………….…………….…………….……..….Appendix AUD-2 Internal Control The following is an excerpt from the Roger CPA Review Text books, which are included with purchase of the Roger CPA Review course. Written and updated by your instructor, Roger Philipp, CPA, the textbooks are the perfect companion to our dynamic lectures. www.RogerCPAreview.com AUD-2 Internal Control The second standard of fieldwork states: “The auditor must obtain a sufficient understanding of the entity and the environment, including its internal control, to assess the risk......

Words: 11022 - Pages: 45

Premium Essay

Income Taxation

...INCOME TAXATION Preservation of book of accounts All the books of accounts, including the subsidiary books and other accounting records of corporations, partnerships or persons shall be preserved by them within 3 years (except in case of a false or fraudulent return) from the Last entry in each book and for which period the commissioner is authorized to make an assessment Exception: 1. Fraud, irregularity or mistakes as determined by the commissioner; 2. The taxpayer request reinvestigation; 3. Verification or compliance with withholding tax laws and regulation; and 4. In the exercise of the commissioner’s power to obtain information from other persons, in which case, another or separate examination and inspection may be made Keeping of book accounts All corporations, companies, partnerships or persons required by law to pay internal revenue taxes shall keep a journal and a ledger, or their equivalents. 1. Those whose gross quarterly sales, earning receipts or output do not exceed fifty thousand pesos (50,000) shall keep and use a simplified set of bookkeeping records duly authorized by the secretary of finance wherein all transaction and results of operation are shown. 2. Those whose gross quarterly sales, earnings receipts or output exceed one hundred fifty thousand pesos (150,000) shall have their books of accounts audited and examined yearly by independent certified public accountant and their income tax returns accompanied with a duly......

Words: 1762 - Pages: 8

Premium Essay

Financial Accounting

...OF CURRICULUM DESIGN Financial Accounting ATLANTIC INTERNATIONAL UNIVERSITY TABLE OF CONTENTS Introduction ………………………………………………………….3 History ……………………………………………………………….3 Description………………………………………………………….....4 Financial Reporting …………………………………………………..5 Accounting Principles…………………………………………………6 Balance Sheet…………………………………………………………7 Income Statements……………………………………………………8 Other Financial Statements…………………………………………..9 Bookkeeping Cycle…………………………………………………….9 Regulations and Standards…………………………………………..11 Accounting Reforms…………………………………………………..12 Biological Assets Research…………………………………………...13 Literatures Review……………………………………………………..14 Methodology and Model…………………………………………….... 16 Findings………………………………………………………………….18 Conclusion……………………………………………………………….19 References………………………………………………………………20 Financial Accounting INTRODUCTION Financial accounting refers to information describing the financial resources. Obligation and activities of an economic entity (either an organization or an individual). Accountants use the term financial position to describe an entity’s financial resources and obligations at appoint in time and the term results of operations to describe its financial activities during the year. Financial Accounting encompasses the record-keeping aspect of......

Words: 7526 - Pages: 31

Premium Essay

Contemporarry Auditing

...Licensed to: iChapters User Licensed to: iChapters User CONTEMPORARY AUDITING REAL ISSUES & CASES MICHAEL C. KNAPP SEVENTH EDITION MAKE IT YOURS! SELECT JUST THE CASES YOU NEED Through Cengage Learning’s Make It Yours, you can — simply, quickly, and affordably — create a quality auditing text that is tailored to your course. • Pick your coverage and only pay for the cases you use. • Add cases from a prior edition of Knapp’s Contemporary Auditing. • Add your course materials and assignments. • Pick your own unique cover design. We recognize that not every program covers the same cases and topics in your auditing course. Chris Knapp wrote his case book for people to use either as a core e book or as a supplement to an existing book. If you would like to use a custom auditing case book or supplement the South-Western accounting book you are currently using, simply check the cases you want to include, indicate if there are other course materials you would like to add, and click submit. A Cengage Learning representative will contact you to review and confirm your order. G E T S T A R T E D Visit www.custom.cengage.com/makeityours/knapp7e to make your selections and provide details on anything else you would like to include. Prefer to use pen and paper? No problem. Fill out questions 1-4 and fax this form to 1.800.270.3310. A Custom Solutions editor will contact you within 2-3 business days to discuss the options you have......

Words: 20989 - Pages: 84

Premium Essay

Accounting Theory

...Contemporary issues in Accounting Unit Code: ACCOO106 Assignment -1 Subject: Normative accounting theory To: Mr Khalid Mahmood Name: Muhammad Mehedi Alam ID: 21562675 Word count: 1145(reference excluded) Date of Submission-07/12/09 Normative accounting theories CPPA- current/constant purchasing power accounting CCA- current cost accounting CoCoA- continuous contemporary accounting Current purchasing power accounting a form of accounting that measures profit after allowing for the maintenance of the purchasing power of the shareholders' capital. ‘There are various prescriptive theories of accounting that were advanced by various people on the basis that historical cost accounting has too many shortcomings, particularly in times of rising prices’ (Page 83 Chapter 4). | Theory and Purpose of |CPPA |Maintain purchasing power |Adjustments to income | |accounting | | | | |Measure of non-monetary |HC (historical cost) |historical cost accounts adjusted for |Holding gain/loss on net monetary | |assets’ value | |changes in the purchasing power of the |assets/liabilities only recognised in | | | |dollar (not recognise in PNL) |PNL ...

Words: 1299 - Pages: 6

Premium Essay

What Does Forensic Mean?

...investigation accounting and litigation support to provide an accounting analysis that is suitable for court. 3. What are the key components of the definition of forensic accounting? Forensic, accounting, time, purpose - legal forum, peremptory. 4. How does a forensic audit differ from a regular audit? According to Ronald L. Durkin, the following differences in a forensic audit versus a traditional audit: •Not limiting the scope of the engagement based upon materiality. •Not accepting sampling as evidence. •Not assuming management has integrity. •Seeking the best legal evidence. •Melding the requirements of the evidential matter standard with the rules of evidence R.L. Durkin, "Defining the Practice of Forensic Accounting," CPA EXPERT (Special Edition, 1999). 5.Who may have been the earliest expert witness? Hercules De Cordes may have been an early expert witness. 6. What impact did the IRS have on forensic accounting in the United States? The most famous case involving forensic accountants and the IRS was the capture Al Capone in 1931. Internal Revenue Service took forensic accounting into the modern age in the United States. 7. Who was Frank Wilson? Frank Wilson was one of two agents posed as gangsters to investigate and capture Capone 8. What country claims the genesis of the discipline of...

Words: 3750 - Pages: 15

Premium Essay

Financial Accounting

...Financial Accouting EXECUTIVE SUMMARY Accounting for intangible assets is a major issue within the accounting environment. The issue is identifiable when it concerns accounting for research and development costs, in particular, internally generated assets. With two imperative standards in practice today, one being the IASB’s selective capitalisation of expenses into an intangible asset once a specific criteria has been reached and the other being the FASB’s system of straight expensing of all expenditure. This subject plays a vital role in the accounting world due to the large amount of money invested into research and development activities, with the Australian Bureau of Statistics 2010 reporting that Business expenditure on R&D (BERD) in Australia alone increased 15% to $14, 380 million up from 07-08. In discussing the different styles taken by the Boards it is easier to identify the impact these standards have on a corporation and its performance, with particular reference being made to Clinuvel Pharmaceuticals Limited, an Australian listed company that is currently undertaking research and development to develop a UV medical protection of the skin from UV and light for sun-related ailments. 1. Clinuvel Activities of R&D Clinuvel Pharmaceuticals Limited (CUV) is a listed Australian biopharmaceutical company based in Melbourne. The focus of CUV is to further research and develop, and eventually commercialise, its leading drug candidate afamelanotide as “a......

Words: 2203 - Pages: 9

Premium Essay

Financial Accouting

...EXECUTIVE SUMMARY Accounting for intangible assets is a major issue within the accounting environment. The issue is identifiable when it concerns accounting for research and development costs, in particular, internally generated assets. With two imperative standards in practice today, one being the IASB’s selective capitalisation of expenses into an intangible asset once a specific criteria has been reached and the other being the FASB’s system of straight expensing of all expenditure. This subject plays a vital role in the accounting world due to the large amount of money invested into research and development activities, with the Australian Bureau of Statistics 2010 reporting that Business expenditure on R&D (BERD) in Australia alone increased 15% to $14, 380 million up from 07-08. In discussing the different styles taken by the Boards it is easier to identify the impact these standards have on a corporation and its performance, with particular reference being made to Clinuvel Pharmaceuticals Limited, an Australian listed company that is currently undertaking research and development to develop a UV medical protection of the skin from UV and light for sun-related ailments. 1. Clinuvel Activities of R&D Clinuvel Pharmaceuticals Limited (CUV) is a listed Australian biopharmaceutical company based in Melbourne. The focus of CUV is to further research and develop, and eventually commercialise, its leading drug candidate afamelanotide as “a preventative treatment for...

Words: 2212 - Pages: 9

Premium Essay

Accounting

...Accounting FOR DUMmIES 4TH ‰ EDITION By John A. Tracy, CPA Accounting For Dummies®, 4th Edition Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2008 by Wiley Publishing, Inc., Indianapolis, Indiana Published by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600. Requests to the Publisher for permission should be addressed to the Legal Department, Wiley Publishing, Inc., 10475 Crosspoint Blvd., Indianapolis, IN 46256, 317-572-3447, fax 317-572-4355, or online at http:// www.wiley.com/go/permissions. Trademarks: Wiley, the Wiley Publishing logo, For Dummies, the Dummies Man logo, A Reference for the Rest of Us!, The Dummies Way, Dummies Daily, The Fun and Easy Way, Dummies.com and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United States and other countries, and may not be used without written permission.......

Words: 151136 - Pages: 605