Book description
The newly updated fast-reference problem solver
The Complete CPA Desk Reference—the convenient, comprehensive reference professionals have relied on for nearly fifteen years—is now updated in a new Fifth Edition to give today's busy executives and accountants the helpful information they need in a quick-reference format. Packed with practical techniques and rules of thumb for solving day-to-day accounting issues, the new edition helps you quickly pinpoint what to look for, what to watch out for, what to do, and how to do it. In an easy-to-use Q & A format, it covers such useful topics as IFRS standards, internal control over financial reporting financial measures, ratios, and procedures.
Includes complete coverage of the Risk Assessment Auditing Standards and Standards of the PCAOB
Incorporates Accounting Standards Codification (ASC) throughout the book
Adds new chapters on professional ethics and quality controls for CPA firms
Features a new section on International Financial Reporting Standards (IFRS)
Packed with checklists, samples, and worked-out solutions to a variety of accounting problems, this reliable reference tool is a powerful companion for the complex, ever-changing world of accounting.
Table of contents
- Cover
- Title Page
- Copyright
- Dedication
- About the Authors
- Acknowledgments
- Introduction
-
Part I: Commonly Used Generally Accepted Accounting Principles
-
CHAPTER 1: Financial Statement Reporting: The Income Statement
- Income Statement Format
- Comprehensive Income
- Extraordinary Items
- Nonrecurring Items
- Discontinued Operations
- Revenue Recognition
- Other Revenue Considerations
- Multiple Deliverables
- Software Revenue Recognition
- Research and Development Costs
- Advertising Costs
- Restructuring Charges
- Other Expense Considerations
- Earnings per Share
- CHAPTER 2: Financial Statement Reporting: The Balance Sheet
- CHAPTER 3: Financial Statement Reporting: Statement of Cash Flows and Other Disclosures
-
CHAPTER 4: Accounting and Disclosures
- Hierarchy of GAAP
- FASB Accounting Standards Codification
- Accounting Changes
- Prior-Period Adjustments
- Disclosure of Accounting Policies
- Development-Stage Companies
- Troubled Debt Restructuring
- Segmental Reporting
- Imputing Interest on Notes
- Accounting for Futures Contracts
- Oil- and Gas-Producing Companies
- CHAPTER 5: Key Financial Accounting Areas
-
CHAPTER 1: Financial Statement Reporting: The Income Statement
- Part II: Analyzing Financial Statements
-
Part III: Managerial Accounting Applications
-
Chapter 7: Appraising Segmental Performance
- The What and Why of Responsibility Accounting
- Cost Center Performance and Standard Costs
- Flexible Budgets and Performance Reports
- Profit Centers and Segmented Reporting
- Profit Variance Analysis
- How to Measure the Performance of Investment Centers
- More on Economic Value Added
- Corporate Balanced Scorecard
- How to Price Goods and Services Transferred
- Alternative Transfer Pricing Schemes
- Budgeting and Financial Planning
-
Chapter 8: Analysis of Projects, Proposals, and Special Situations
- Cost–Volume–Profit and Breakeven Analysis
- Short-Term, Nonroutine Decisions
- Theory of Constraints
- Life-Cycle Costs and Target Costing
- Activity-Based Costing
- Just-in-Time and Total Quality Management
- Taguchi Method of Quality Control
- Backflush Costing
- Environmental Costs and Ecoefficiency
- Time Value Fundamentals
- Capital Budgeting
- MACRS Rule
-
Chapter 9: Quantitative Applications and Modeling in Accounting
- Statistical Analysis and Evaluation
- Regression Analysis
- Trend Analysis
- Regression Statistics
- Quantitative Methods for Accounting
- Decision Making
- Linear Programming and Shadow Prices
- Goal Programming and Multiple Goals
- Learning Curve
- Inventory Planning and Control
- Program Evaluation and Review Technique
- Project Budgeting and Control Using Earned Value Analysis
-
Chapter 7: Appraising Segmental Performance
-
Part IV: Auditing, Compiling, and Reviewing Financial Statements
- Chapter 10: Auditing Procedures
-
CHAPTER 11: Compilation, Review, and Other Reporting Services
- Compilation of Financial Statements
- Review of Financial Statements
- Accountant's Consideration of Obtaining an Updating Representation Letter from Management
- Documentation in a Review Engagement
- Restricting the Use of an Accountant's Compilation or Review Report
- Consideration of an Entity's Ability to Continue as a Going Concern
- Subsequent Events
- Subsequent Discovery of Facts Existing at the Date of the Report
- Change in Engagement from Audit or Review to Compilation
- Reporting on Prescribed Forms
- Communication between Successor and Predecessor Accountants
- Compilation of Specified Elements, Accounts, or Items of a Financial Statement
- Compilation of Pro Forma Financial Information
- Communicating to Management and Others in a Compilation or Review Engagement
- Reports on Prospective Financial Statements
- Attest Engagements
- Examination of an Entity's Internal Control over Financial Reporting That Is Integrated with an Audit of Its Financial Statements (SSAE 15)
- Integration with the Financial Statement Audit
- Reporting on Controls at a Service Organization
- Compliance Attestation
- Management's Discussion and Analysis
- Personal Financial Statements Included in Written Personal Financial Plans
- Reporting on Comparative Statements
- Special Reports
-
CHAPTER 12: Auditing Standards
- SAS 1—Codification of Auditing Standards and Procedures
- SAS 2—Reports on Audited Financial Statements
- SAS 3—The Effects of EDP on the Auditor's Study and Evaluation of Internal Control
- SAS 4—Quality Control Considerations for a Firm of Independent Auditors
- SAS 5—The Meaning of “Present Fairly in Conformity with Generally Accepted Accounting Principles” in the Independent Auditor's Report
- SAS 6—Related Party Transactions
- SAS 7—Communication between Predecessor and Successor Auditor
- SAS 8—Other Information in Documents Containing Audited Financial Statements
- SAS 9—The Effect of an Internal Audit Function on the Scope of the Independent Auditor's Examination
- SAS 10—Limited Review of Interim Financial Information
- SAS 11—Using the Work of a Specialist
- SAS 12—Inquiry of a Client's Lawyer Concerning Litigation, Claims, and Assessments
- SAS 13—Reports on a Limited Review of Interim Financial Information
- SAS 14—Special Reports
- SAS 15—Reports on Comparative Financial Statements
- SAS 16—The Independent Auditor's Responsibility for the Detection of Errors or Irregularities
- SAS 17—Illegal Acts by Clients
- SAS 18—Unaudited Replacement Cost Information
- SAS 19—Client Representations
- SAS 20—Required Communication of Material Weaknesses in Internal Accounting Control
- SAS 21—Segment Information
- SAS 22—Planning and Supervision
- SAS 23—Analytical Review Procedures
- SAS 24—Review of Interim Financial Information
- SAS 25—The Relationship of Generally Accepted Auditing Standards to Quality Control Standards
- SAS 26—Association with Financial Statements
- SAS 27—Supplementary Information Required by the Financial Accounting Standards Board
- SAS 28—Supplementary Information on the Effects of Changing Prices
- SAS 29—Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents
- SAS 30—Reporting on Internal Accounting Control
- SAS 31—Evidential Matter
- SAS 32—Adequacy of Disclosure in Financial Statements
- SAS 33—Supplementary Oil and Gas Reserve Information
- SAS 34—The Auditor's Considerations When a Question Arises about an Entity's Continued Existence
- SAS 35—Special Reports: Applying Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement
- SAS 36—Review of Interim Financial Information
- SAS 37—Filings under Federal Securities Statutes
- SAS 38—Letters for Underwriters
- SAS 39—Audit Sampling
- SAS 40—Supplementary Mineral Reserve Information
- SAS 41—Working Papers
- SAS 42—Reporting on Condensed Financial Statements and Selected Financial Data
- SAS 43—Omnibus Statement on Auditing Standards
- SAS 44—Special-Purpose Reports on Internal Accounting Control at Service Organizations
- SAS 45—Omnibus Statement on Auditing Standards—1983
- SAS 46—Consideration of Omitted Procedures after the Report Date
- SAS 47—Audit Risk and Materiality in Conducting an Audit
- SAS 48—The Effects of Computer Processing on the Audit of Financial Statements
- SAS 49—Letters for Underwriters
- SAS 50—Reports on the Application of Accounting Principles
- SAS 51—Reporting on Financial Statements Prepared for Use in Other Countries
- SAS 52—Omnibus Statement on Auditing Standards—1987
- SAS 53—The Auditor's Responsibility to Detect and Report Errors and Irregularities
- SAS 54—Illegal Acts by Clients
- SAS 55—Consideration of Internal Control in a Financial Statement Audit
- SAS 56—Analytical Procedures
- SAS 57—Auditing Accounting Estimates
- SAS 58—Reports on Audited Financial Statements
- SAS 59—The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern
- SAS 60—Communication of Internal Control Related Matters Noted in an Audit
- SAS 61—Communication with Audit Committees
- SAS 62—Special Reports
- SAS 63—Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance
- SAS 64—Omnibus Statement on Auditing Standards
- SAS 65—The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements
- SAS 66—Communication of Matters about Interim Financial Information Filed or to Be Filed with Specified Regulatory Agencies
- SAS 67—The Confirmation Process
- SAS 68—Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance
- SAS 69—The Meaning of Present Fairly in Conformity with Generally Accepted Accounting Principles in the Independent Auditor's Report
- SAS 70—Service Organizations
- SAS 71—Interim Financial Information
- SAS 72—Letters for Underwriters and Certain Other Requesting Parties
- SAS 73—Using the Work of a Specialist
- SAS 74—Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of Governmental Financial Assistance
- SAS 75—Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement
- SAS 76—Amendments to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain Other Requesting Parties
- SAS 77—Amendments to Statements on Auditing Standards No. 22, Planning and Supervision; No. 59, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern; and No. 62, Special Reports
- SAS 78—Consideration of Internal Control in a Financial Statement Audit: An Amendment to SAS 55
- SAS 79—Amendment to Statement on Auditing Standards No. 58, Reports on Audited Financial Statements
- SAS 80—Amendment to Statement on Auditing Standards No. 31, Evidential Matter
- SAS 81—Auditing Investments
- SAS 82—Consideration of Fraud in a Financial Statement Audit
- SAS 83—Establishing an Understanding with the Client
- SAS 84—Communications between Predecessor and Successor Accountants
- SAS 85—Management Representations
- SAS 86—Amendment to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain Other Requesting Parties
- SAS 87—Restricting the Use of an Auditor's Report
- SAS 88—Service Organizations and Reporting on Consistency
- SAS 89—Audit Adjustments
- SAS 90—Audit Committee Communications
- SAS 91—Federal GAAP Hierarchy
- SAS 92—Auditing Derivative Instruments, Hedging Activities, and Investments in Securities
- SAS 93—Omnibus Statement on Auditing Standards—2000
- SAS 94—The Effect of Information Technology on the Auditor's Consideration of Internal Control in a Financial Statement Audit
- SAS 95—Generally Accepted Auditing Standards
- SAS 96—Audit Documentation
- SAS 97—Amendment to Statement on Auditing Standards No. 50, Reports on the Application of Accounting Principles
- SAS 98—Omnibus Statement on Auditing Standards—2002
- SAS 99—Consideration of Fraud in a Financial Statement Audit
- SAS 100—Interim Financial Information
- SAS 101—Auditing Fair Value Measurements and Disclosures
- SAS 102—Defining Professional Requirements in Statements on Auditing Standards
- SAS 103—Audit Documentation
- SAS 104—Amendment to SAS 1, Codification of Auditing Standards and Procedures (“Due Professional Care in the Performance of Work”)
- SAS 105—Amendment to SAS 95—Generally Accepted Auditing Standards
- SAS 106—Audit Evidence
- SAS 107—Audit Risk and Materiality in Conducting an Audit
- SAS 108—Planning and Supervision
- SAS 109—Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement
- SAS 110—Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained
- SAS 111—Amendment to Statement on Auditing Standards No. 39, Audit Sampling
- SAS 112—Communication of Internal Control–Related Matters Identified in an Audit
- SAS 113—Omnibus 2006
- SAS 114—The Auditor's Communication with Those Charged with Governance
- SAS 115—Communicating Internal Control Related Matters Identified in an Audit
- SAS 116—Interim Financial Information
- SAS 117—Compliance Audits
- SAS 118—Other Information in Documents Containing Audited Financial Statements
- SAS 119—Supplementary Information in Relation to the Financial Statements as a Whole
- SAS 120—Required Supplementary Information
- SAS 121—Revised Applicability of Statement on Auditing Standards No. 100, Interim Financial Information
- AS 1—References in Auditor's Reports to the Standards of the Public Company Accounting Oversight Board
- AS 2—An Audit of Internal Control over Financial Reporting Performed in Conjunction with an Audit of Financial Statements
- AS 3—Audit Documentation
- AS 4—Reporting on Whether a Previously Reported Material Weakness Continues to Exist
- AS 5—An Audit of Internal Control over Financial Reporting That Is Integrated with an Audit of Financial Statements
- AS 6—Evaluating Consistency of Financial Statements
- AS 7—Engagement Quality Review
- AS 8—Audit Risk
- AS 9—Audit Planning
- AS 10—Supervision of the Audit Engagement
- AS 11—Consideration of Materiality in Planning and Performing an Audit
- AS 12—Identifying and Assessing Risks of Material Misstatements
- AS 13—The Auditor's Responses to the Risks of Material Misstatement
- AS 14—Evaluating Audit Results
- AS 15—Audit Evidence
- Chapter 13: Sarbanes-Oxley Act of 2002
- Part V: Taxation
-
Part VI: Other Professional Standards
- Chapter 15: Consulting Services
- Chapter 16: Quality Control
-
Chapter 17: Code of Professional Conduct
- Rule 101—Independence
- Rule 102—Integrity and Objectivity
- Rule 201—General Standards
- Rule 202—Compliance with Standards
- Rule 203—Accounting Principles
- Rule 301—Confidential Client Information
- Rule 302—Contingent Fees
- Rule 501—Acts Discreditable
- Rule 502—Advertising and Other Forms of Solicitations
- Rule 503—Commissions and Referral Fees
- Rule 505—Form of Organization and Name
- Index
Product information
- Title: The Complete CPA Reference
- Author(s):
- Release date: May 2012
- Publisher(s): Wiley
- ISBN: 9781118115886
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