The Government of the District of Columbia
The Government of the District of Columbia
Office of the Chief Financial Officer
Submitted to the Congress of the United States
Office of Budget and Planning
by the Government of the District of Columbia
Elements of Financial Statements : Assets Liabilities = Equity
Equity = Contribution Distribution = Comprehensive
Comprehensive Income = Revenues Expenses + Gains Losses
+ Other Comprehensive Income
August 27, 2001
REVENUE REGULATIONS NO. 14-2001
Implementing Section 34(D)(3) of the National Internal
Revenue Code of 1997, Relative to the Allowance of Net
Operating Loss Carry-Over (NOLCO) as a Deduction from
All Internal R
Published on www.jps-dir.com
A budget is a realistic plan for the future expressed in quantitative terms
(Dollars or Units).
Purposes of Budgeting:
Planning Operations (Short - term and Lo
Conceptual Frame Work
For Financial Reporting
1- Useful in Investment
and Credit Decisions.
2- Useful in Assessing
Future Cash Flows.
3- About Enterprise Resources,
Claims to R
Issuing bonds: A bond arises from a contract known as a bond indenture and
represents a promise to pay:
1) A sum of money at a designated maturity rate.
2) Periodic interest at a specified rate on the maturity amount (face value).
published on www.jps-dir.com
Accounting information system
The left side of any account is the debit side .the right is the credit
All assets & expenses increase in the debit side .decrease in the
. Inventory: It is defined as tangible personal property:
1. Held for sale in the ordinary course of business.
2. In the process of production for such sale.
3. To be used currently in the production of items sale.
.Inventory valuation and
. Current liabilities: Are the obligations that are reasonably expected to be liquidated either through
Of current assets or the creation of other current liabilities, this concept include :
1- Payables resulting from the acquisition o
They Fixed assets
Fixed assets : It represents the capitalized amount of expenditures
made to acquire tangible property which will be used for a period of
more than one year , tangible property includes land , buildings ,
equipment , assets , received thr
REPUBLIKA NG PILIPINAS
KAGAWARAN NG PANANALAPI
KAWANIHAN NG RENTAS INTERNAS
November 26, 2008
REVENUE REGULATIONS NO. 16 - 2008
: IMPLEMENTING THE PROVISIONS OF SECTION 34(L) OF THE
TAX CODE OF 1997, AS AMENDED BY SECTION 3 OF REPUBLIC
116 Clemencia St. Poblacion
Basista, Pangasinan 2422
(0915) 779 2526
PATRICK GIL DE GUZMAN EDEN
I am seeking a competitive and challenging environment
where there is a need for a variety of office management
THE DR. IS IN
By LESLIE SHINER
Understand your numbers and make educated business decisions.
nowing your numbers is the difference
between making profit happen or just
happening to make profit. Electronic
systems contractors (ESCs)
What are Special Taxes?
Subdivision (d), Section 1, Article XIII C of the California Constitution states that a Special Tax
means any tax imposed for specific purposes, including a tax imposed for s
Republic of the Philippines
2014 BAR EXAMINATIONS
2:00 P.M. 6:00 P.M.
October 12, 2014
This Questionnaire contains THIRTEEN (13) pages including
these Instructions pages. Check the number of pages and the page
1. easy a The objective of the ordinary audit of financial statements is the expression of an opinion on: a. the fairness of the financial statements. b. the accuracy of the financial statements. c. the accuracy of the
Which of the following is not a condition for a contingent liability to exist?
a. There is a potential future payment to an outside party that would result from a current
b. There is uncertainty ab
Which one of the following is not one of the three General Standards?
a. Proper planning and supervision.
b. Independence of mental attitude.
c. Adequate training and proficiency.
d. Due professional care.
Society has attached a special meaning to the term professional. A professional is:
a. someone who has passed a qualifying exam to enter the job market.
b. a person who is expected to conduct himself or hersel
If it is probable that the judgment of a reasonable person would have been changed or
influenced by the omission or misstatement of information, then that information is, by
definition of FASB Statement No. 2:
Which of the following is not one of the three main reasons why the auditor should properly
a. To enable proper on-the-job training of employees.
b. To enable the auditor to obtain sufficient
Auditing standards require that the audit report must be titled and that the title must:
a. include the word independent.
b. indicate if the auditor is a CPA.
c. indicate if the auditor is a proprietorship, pa
Which of the following best defines fraud in a financial statement auditing context?
Fraud is an unintentional misstatement of the financial statements.
Fraud is an intentional misstatement of the finan
A listing of all the things which the auditor will do to gather sufficient, competent evidence is
a. audit strategy.
b. audit program.
c. audit procedure.
d. audit risk model.
Shown below (1 th
Which of the following is not a balance-related audit objective evaluated in the audit of
b. Realizable value
The two primary classes of tr
Receipt of ordered materials by the receiving department will generate the completion of a form
a. bill of lading.
b. receiving report.
c. materials requisition.
d. inventory acquisition summary.
The classes of transactions in the acquisition and payment cycle include acquisition of:
b. goods and services.
c. goods and services, and cash disbursements.
d. goods and services, cash disbursemen
Which of the following accounts is associated with a transaction cycle other than acquisition
a. Common stock.
b. Property, plant and equipment.
c. Accrued property taxes.
d. Income tax expense.
The IIA Code of Ethics is based on all but which of the following ethical principles?
Statements on Internal Auditing Standards are