Financial Accounting & Reporting 3(B)
Please note that this chapter is to be used for exams beginning in July, 2009. If you are planning to sit for the CPA exam prior to July, 2009, then you will want to study with the Financial 3(A) chapter, which is als
Financial Accounting & Reporting 6 Class Questions 1. CPA-00690 The following information pertains to Gali Co.'s defined benefit pension plan for 1994: Fair value of plan assets, beginning of year Fair value of plan assets, end of year Employer contributi
Financial Accounting & Reporting 7 Class Questions 1. CPA-00929 Whether recognized or unrecognized in an entity's financial statements, disclosure of the fair values of the entity's financial instruments is required when: a. b. c. d. It is practicable to
Financial Accounting & Reporting 9 Class Questions 1. CPA-00975 The statement of activities of the government-wide financial statements is designed primarily to provide information to assess which of the following? a. b. c. d. Operational accountability.
Financial Accounting & Reporting 5 Class Questions 1. CPA-00394 On December 30, 1994, Chang Co. sold a machine to Door Co. in exchange for a non-interest-bearing note requiring ten annual payments of $10,000. Door made the first payment on December 30, 19
Financial Accounting & Reporting 3(A)
Please note that this chapter is to be used for exams prior to June, 2009. If you are planning to sit for the CPA exam after June, 2009, please use the Financial 3(B) chapter, which is also included in this textbook.
1. 2. 3.
Sources of GAAP and basic framework and concepts . 3 Reporting net income . 14 Income statement: Income from continuing operations . 17 Discontinued operations . 19 Extraordinary items . 22 Accounting changes and prior period adjustments . 24
What are the two principle schemes involving bribery?
Define corruption. Identify the four categories of corruption. Define bribery. Compare and contrast bribery, extortion, and illegal gratuities. I
List and understand the three main categories of payroll fraud. Understand the relative cost and frequency of payroll frauds. Define a ghost employee. List and understand the four steps to making a ghost em