Book description
Wiley CPA Exam review
34th Edition ? 2007-2008
Volume 1
Outlines and Study Guides
*
Covers all four sections of the CPA examination point by
point
*
Stresses important topical areas to study for each part
*
Helps establish a self-study preparation program
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Divides exam into 45 manageable study units
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Provides an outline format supplemented by brief examples and
illustrations
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Makes material easy to read, understand, and remember
*
Includes timely, up-to-the-minute coverage for the computerized
exam
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Explains step-by-step examples of the "solutions approach"
*
Contains all current AICPA content requirements for all four
sections of the exam
Volume 2
Problems and Solutions
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Offers selected problems from all four examination sections
*
Contains rationale for correct or incorrect multiple-choice
answers
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Covers the new simulation-style problems-offering more than 75
practice questions
*
Details a "solutions approach" to each problem
*
Updates unofficial answers to reflect current laws and
standards
*
Groups multiple-choice questions into topical categories within
modules for easy cross-referencing
*
Provides a sample examination for each of the four exam parts
The computer-based CPA exam is here! Are you ready?
The 34th Edition of the Wiley CPA Exam Review is revised and
updated for the new computerized exam, containing AICPA sample test
questions released as recently as April 2007. To help candidates
prepare for the new exam format, this edition includes a
substantial number of the new simulation-type questions. Passing
the CPA exam on your first attempt is possible! We'd like to
help.
Get Even More Information Online:
You'll find a wide range of aids for doing your best on the CPA
exam at wiley.com/cpa, including content updates, CPA exam study
and test-taking tips, and more. All Wiley CPA Exam Review products
are listed on the site.
Table of contents
- Copyright
- Preface
- About the Authors
- About the Contributors
- 1. Beginning Your CPA Review Program
- 2. Examination Grading
-
3. The Solutions Approach
- Multiple-Choice Screen Layout
- Multiple-Choice Questions Solutions Approach Algorithm
- Multiple-Choice Question Solutions Approach Example
- Simulations Screen Layout
- Simulations Solutions Approach Algorithm
- Research Requirements of Simulations
- Communication Requirements of Simulations
- Methods for Improving Your Writing Skills
- Time Requirements for the Solutions Approach
- 4. Taking the Examination
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5. Auditing and Attestation
- Summary of Auditing and Attestation Topics Tested
- Researching AICPA Professional Standards
- Overview of the Attest Function
- Professional Standards
- Appendix
- Module 1: Engagement Planning, Obtaining an Understanding of the Client and Assessing Risks
- Module 2: Internal Control
- Module 3: Evidence
- Module 4: Reporting
- Module 5: Audit Sampling
- Module 6: Auditing with Technology
- Outlines of Professional Standards
-
Statements on Standards for Attestation Engagements
- AT 101 Attestation Standards
- AT 201 Agreed-upon Procedures Engagements
- AT 301 Financial Forecasts and Projections
- AT 401 Reporting on Pro Forma Financial Information
- AT 501 Reporting on an Entity’s Internal Control over Financial Reporting
- AT 601 Compliance Attestation
- AT 701 Management’s Discussion and Analysis
-
Statements on Auditing Standards
- 110 Responsibilities and Functions of the Independent Auditor (SAS 1)
- 120 Defining Professional Requirements (SAS 102)
- 150 Generally Accepted Auditing Standards (SAS 1, 43, 95, 105)
- 161 The Relationship of Generally Accepted Auditing Standards to Quality Control Standards (SAS 25)
- 201 through 230 The General Standards (SAS 1)
- 311 Planning and Supervision (SAS 108)
- 312 Audit Risk and Materiality in Conducting an Audit (SAS 107)
- 313 Substantive Tests prior to the Balance Sheet Date (SAS 45)
- 314 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (SAS 109)
- 315 Communications between Predecessor and Successor Auditors (SAS 84)
- 316 Consideration of Fraud in a Financial Statement Audit (SAS 99)
- Appendix 1: Examples of Fraud Risk Factors
-
Appendix 2: Programs and Controls Related to Fraud
- 317 Illegal Acts by Clients (SAS 54)
- 318 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained (SAS 110)
- 322 The Auditor’s Consideration of the Internal Audit Function in an Audit of Financial Statements (SAS 65)
- 324 Reports on the Processing of Transactions by Service Organizations (SAS 70)
- 325 Communicating Internal Control Related Matters Identified in an Audit (SAS 112)
- 326 Audit Evidence (SAS 106)
- 328 Auditing Fair Value Measurements and Disclosures
- 329 Analytical Procedures (SAS 56)
- 330 The Confirmation Process (SAS 67)
- 331 Inventories (SAS 1)
- 332 Auditing Derivative Instruments, Hedging Activities, and Investments in Securities
- 333 Management Representations
- 334 Related Parties (SAS 45)
- 336 Using the Work of a Specialist (SAS 73)
- 337 Inquiry of a Client’s Lawyer Concerning Litigation, Claims, and Assessments (LCA) (SAS 12)
- 339 Audit Documentation (SAS 103)
- 341 The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern (SAS 59)
- 342 Auditing Accounting Estimates (SAS 57)
- 350 Audit Sampling (SAS 39, 111)
- 380 The Auditor’s Communication with Those Charged with Governance (SAS 114)
- 390 Consideration of Omitted Procedures after Report Date (SAS 46)
- 410 Adherence to Generally Accepted Accounting Principles (SAS 1)
- 411 The Meaning of Present Fairly in Conformity with Generally Accepted Accounting Principles in the Auditor’s Report (SAS 69)
- 420 Consistency of Application of GAAP (SAS 1)
- 431 Adequacy of Disclosure in Financial Statements (SAS 32)
- 504 Association with Financial Statements (SAS 26)
- 508 Reports on Audited Financial Statements (SAS 58 and SAS 79)
- 530 Dating the Independent Auditor’s Report (SAS 1, 29)
- 532 Restricting the Use of an Auditor’s Report
- 534 Reporting on Financial Statements Prepared for Use in Other Countries (SAS 51)
- 543 Part of the Examination Made by Other Independent Auditors (SAS 1)
- 550 Other Information in Documents Containing Audited Financial Statements (SAS 8)
- 551 Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents (SAS 29)
- 552 Reporting on Condensed Financial Statements and Selected Financial Data (SAS 42)
- 558 Required Supplementary Information (SAS 52)
- 560 Subsequent Events (SAS 1)
- 561 Subsequent Discovery of Facts Existing at the Date of the Auditor’s Report (SAS 1)
- 623 Special Reports (SAS 63)
- 634 Letters for Underwriters and Certain Other Requesting Parties (SAS 72)
- 711 Filings under Federal Securities Statutes (SAS 37)
- 722 Interim Financial Information (SAS 100)
- 801 Compliance Auditing Considerations in Audits of Governmental Entities and Recipient of Governmental Financial Assistance (SAS 74)
- 901 Public Warehouses—Controls and Procedures for Goods Held
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Standards of the Public Company Accounting Oversight Board
- PCAOB Auditing Standard No. 1 (and related reporting guidance)—References in Auditors’ Reports to the Standards of the PCAOB
- PCAOB Auditing Standard No. 2—An Audit of Internal Control over Financial Reporting Performed in Conjunction with an Audit of Financial Statements
- PCAOB Standard No. 3—Audit Documentation
- PCAOB Standard No. 4—Reporting on Whether a Previously Reported Material Weakness Continues to Exist
- Government Auditing Standards (Issued by the Comptroller General of the United States, General Accounting Office)
-
Statements on Standards for Accounting and Review Services
- AR 100 Compilation and Review of Financial Statements (SSARS 1, 8, and 10)
- AR 200 Reporting on Comparative Financial Statements (SSARS 2)
- AR 300 Compilation Reports on Financial Statements Included in Certain Prescribed Forms (SSARS 3)
- AR 400 Communications between Predecessor and Successor Accountants (SSARS 4)
- AR 500 Reporting on Compiled Financial Statements (SSARS 5)
- AR 600 Reporting on Personal Financial Statements Included in Written Personal Financial Plans (SSARS 6)
-
6. Financial Accounting and Reporting
- Introduction
- Preparing for Financial Accounting and Reporting
- Researching AICPA Accounting Standards
- Module 7: Basic Theory and Financial Reporting
- Module 8: Inventory
-
Module 9: Fixed Assets
- A. Acquisition Cost
- B. Capitalization of Interest
- C. Nonmonetary Exchanges
- D. Purchase of Groups of Fixed Assets
- E. Capital vs. Revenue Expenditures
- F. Depreciation
- G. Disposals and Impairment of Value
- H. Depletion
- I. Insurance
- J. Goodwill and Other Intangible Assets (See the outline of SFAS 142)
- K. Reporting on the Costs of Start-up Activities
- L. Research and Development Costs (SFAS 2)
- M. Computer Software Costs
- N. Development Stage Enterprises (SFAS 7)
- O. Research Component
- Module 10: Monetary Current Assets and Current Liabilities
- Module 11: Present Value
-
Module 12: Deferred Taxes
- A. Overview of Deferred Tax Theory
- B. Permanent and Temporary Differences Defined
- C. Deferred Tax Assets and Liabilities
- D. Deferred Tax Related to Business Investments
- E. Loss Carryforwards and Carrybacks
- F. Financial Statement Presentation of Income Tax
- G. Treatment of Selected Temporary Differences
- H. Research Component
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Module 13: Stockholders’ Equity
- A. Common Stock
- B. Preferred Stock
- C. Stock Subscriptions
- D. Treasury Stock Transactions
- E. Retirement of Stock
- F. Dividends
- G. Stock Splits
- H. Appropriations of Retained Earnings (Reserves)
- I. Share-Based Payments
- J. Accounting Entries for the Share-Based Payments to Employees
- K. Basic Earnings Per Share
- L. Diluted Earnings Per Share
- M. Corporate Bankruptcy
- N. Reorganizations
- O. Quasi Reorganization (ARB 43, Chapter 7A)
- P. Stock Rights
- Q. Employee Stock Ownership Plan (ESOP)
- R. Ratios
- S. Research Component
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Module 14: Investments
- A. Concepts of Accounting and Investment Percentage
- B. Investments in Which Significant Influence Does Not Exist
- C. Investments Where Significant Influence Does Exist
- D. Equity Method and Deferred Income Taxes
- E. Stock Dividends and Splits
- F. Stock Rights
- G. Cash Surrender Value of Life Insurance
- H. Research Component
- Module 15: Statement of Cash Flows
-
Module 16: Business Combinations and Consolidations
- A. Accounting for the Combination
- B. A Company and B Company—Date of Combination
- C. Date of Combination—Purchase Accounting
- D. Purchase Combination Entries Reviewed
- E. Consolidated Financial Statements
- F. Date of Combination Consolidated Balance Sheet—Purchase Accounting
- G. Consolidated Financial Statements subsequent to Acquisition
- H. Intercompany Transactions and Profit Confirmation
- I. Example of Subsequent Consolidated Financial Statements
- J. Minority Interest
- K. Subsequent Consolidated Balance Sheet Only
- L. Consolidated Net Income and Consolidated Retained Earnings
- M. Changes in Ownership
- N. Combined Financial Statements
- O. Push-Down Accounting
- P. Research Component
- Module 17: Derivative Instruments and Hedging Activities
- Module 18: Miscellaneous
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Module 19: Governmental (State and Local) Accounting
- A. The Government Reporting Model
- B. The Reporting Entity
- C. Management’s Discussion and Analysis
- D. Government-Wide Financial Statements
- E. Fund Financial Statements
- F. Notes to the Financial Statements
- G. Required Supplementary Information (RSI) other than MD&A
- H. Measurement Focus and Basis of Accounting (MFBA)
- I. Accounting for Nonexchange Transactions
- J. Budgetary Accounting for the General and Special Revenue Funds
- K. Expenditure Classification for Governmental Funds
- L. Accounting for the General Fund
- M. Accounting for Special Revenue Funds
- N. Accounting for Capital Projects Funds
- O. Debt Service Funds
- P. Permanent Funds
- Q. Accounting for Special Assessments
- R. Accounting for Proprietary Funds
- S. Accounting for Fiduciary Funds
- T. Reporting Interfund Activity
- U. Accounting for Investments
- V. Conversion from Fund Financial Statements to Government-Wide Financial Statements
- W. College and University Accounting—Public (Governmental)—GASB 35
- Module 20: Not-for-Profit Accounting
- ARB, APB, and FASB Pronouncements
-
Accounting Research Bulletins
- ARB 43—Chapter 1A (A31, B50, C08, C23, R36, R70, R75) Rules Adopted by Membership
- Chapter 1B (C23) Profits or Losses on Treasury Stock
- Chapter 2A (F43) Comparative Financial Statements
- Chapter 3A (B05, I78) Current Assets and Current Liabilities
- Chapter 4 (I78) Inventory Pricing (see also SFAS 151)
- Chapter 7A (Q15) Quasi Reorganization
- Chapter 7B (C20, Q15) Stock Dividends and Stock Splits
- Chapter 10A (T10) Real and Personal Property Taxes
- Chapter 13B (C47) Stock Option Compensation Plans
- ARB 45 (Co4) Long-Term Construction Contracts
- ARB 51 (B50, C20, C51, R70) Consolidated Financial Statements
-
Accounting Principles Board Opinions
- APB 6 (B05, C23, D40, I60) Status of Accounting Research Bulletins
- APB 9 (I17, C08) Reporting the Results of Operations
- APB 10 (A35, B10, C16, I24, I25, I28, R75) Omnibus Opinion—1966
- APB 12 (C08, C38, D40, I69, V18) Omnibus Opinion—1967
- APB 14 (D10, C08) Convertible Debt and Debt Issued with Stock Warrants
- APB 18 (I82) The Equity Method for Investments
- APB 21 (I69) Interest on Receivables and Payables
- APB 22 (A10) Disclosure of Accounting Policies
- APB 23 (I25, I42, and B17) Accounting for Income Taxes—Special Areas
- APB 25 (C47) Accounting for Stock Issued to Employees—Superseded by SFAS 123(R)
- APB 26 (D14) Early Extinguishment of Debt
- APB 28 (I73) Interim Financial Reporting
- PART I Application of GAAP to Interim Periods
- PART II Required Interim Disclosures by Publicly Traded Companies
- APB 29 (N35, C11) Accounting for Nonmonetary Transactions (see SFAS 153)
- APB 30 (E09, I13, I17, I22) Reporting the Results of Operations
-
Statements of Financial Accounting Standards
- SFAS 2 (Co2, R50) Accounting for Research and Development Costs (R&D)
- SFAS 5 (C59, I50, In6, R70) Accounting for Contingencies
- SFAS 6 (B05) Classification of Short-Term Obligations Expected to Be Refinanced
- SFAS 7 (De4) Accounting and Reporting by Development Stage Companies
- SFAS 13 (L10, C51) Accounting for Leases
- SFAS 15 (D22) Accounting by Debtors and Creditors for Troubled Debt Restructurings
- SFAS 16 (A35, C59, I16, I17, and I73) Prior Period Adjustments
- SFAS 34 (I67, I69) Capitalization of Interest Cost
- SFAS 43 (C44) Accounting for Compensated Absences
- SFAS 45 (Fr3) Accounting for Franchise Fee Revenue
- SFAS 47 (C32) Disclosure of Long-Term Obligations
- SFAS 48 (R75) Revenue Recognition When Right of Return Exists
- SFAS 52 (F60) Foreign Currency Translation
- SFAS 57 (R36) Related-Party Disclosures
- SFAS 66 (Re1, R10) Accounting for Sales of Real Estate
- SFAS 78 (B05) Classification of Obligations That Are Callable by the Creditor
- SFAS 84 (D10, D14) Induced Conversions of Convertible Debt
- SFAS 86 (Co2) Accounting for the Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed
- SFAS 87 (C59, I67, P16, Re6) Employers’ Accounting for Pensions
- SFAS 88 (P16) Employers’ Accounting for Settlements and Curtailments of Defined Benefit Pension Plans and for Termination Benefits
- SFAS 89 (C28) Financial Reporting and Changing Prices
- SFAS 91 (Bt7, D22, Fi4, In6, I89, L10, L20, Mo4) Accounting for Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans and Initial Direct Costs of Leases
- SFAS 94 (C51) Consolidation of All Majority-Owned Subsidiaries
- SFAS 95 (C25) Statement of Cash Flows
- SFAS 98 (L10) Accounting for Leases
- SFAS 106 (P40) Employers’ Accounting for Postretirement Benefits other than Pensions
- SFAS 107 (F25) Disclosures about Fair Value of Financial Instruments
- SFAS 109 (I27) Accounting for Income Taxes
- SFAS 112 (C44) Employers’ Accounting for Postemployment Benefits
- SFAS 114 (D22) Accounting by Creditors for Impairment of a Loan
- SFAS 115 (I80) Accounting for Certain Investments in Debt and Equity Securities
- SFAS 116 (C67) Accounting for Contributions Received and Contributions Made
- SFAS 117 (No5) Financial Statements of Not-for-Profit Organizations
- SFAS 123 Revised (C36) Share-Based Payment
- SFAS 128 (E11) Earnings Per Share
- SFAS 129 (C24) Disclosure of Information about Capital Structure
- SFAS 130 (C49) Reporting Comprehensive Income
- SFAS 131 (S30) Disclosures about Segments of an Enterprise and Related Information
- SFAS 132 Revised (P16) Employers’ Disclosures about Pensions and Other Postretirement Benefits
- SFAS 133 (D50) Accounting for Derivative Instruments and Hedging Activities
- SFAS 134 (I80, Mo4) Accounting for Mortgage-Backed Securities Retained after the Securitization of Mortgage Loans Held for Sale by a Mortgage Banking Enterprise
- SFAS 135 (P16) Rescission of FASB Statement No. 75 and Technical Corrections
- SFAS 136 (C67, No5) Transfers of Assets to a Not-for-Profit Organization or a Charitable Trust That Raises or Holds Contributions for Others
- SFAS 137 Accounting for Derivative Instruments and Hedging Activities—Deferral of the Effective Date of FASB Statement No. 133
- SFAS 138 (D50) Accounting Certain Derivative Instruments and Certain Hedging Activities: An Amendment of FASB Statement No. 133
- SFAS 140 (F35 and L35) Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities
- SFAS 141 (B51) Business Combinations
- SFAS 142 (G40) Goodwill and Other Intangible Assets
- SFAS 143 (A50) Accounting for Asset Retirement Obligations
- SFAS 144 (D60 and I08) Accounting for the Impairment or Disposal of Long-Lived Assets
- SFAS 145 (I17, L10, and L35) Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections
- SFAS 146 (L32) Liabilities: Exit or Disposal Costs
- SFAS 147 (B51, G40, Bt7) Acquisitions of Certain Financial Institutions, an amendment of FASB Statements No. 72 and 144 and FASB Interpretation No. 9
- SFAS 149 Amendment of Statement 133 on Derivative Instruments and Hedging Activities
- SFAS 150 Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity
- SFAS 151 Inventory Costs
- SFAS 152 Accounting for Real Estate Time Sharing Transactions—An Amendment of FASB Statements No. 66 and 67
- SFAS 153 Exchanges of Nonmonetary Assets—An Amendment of APB Opinion No. 29
- SFAS 154 Accounting Changes and Error Corrections
- SFAS 155 Accounting for Certain Hybrid Financial Instruments
- SFAS 156 Accounting for Servicing of Financial Assets
- SFAS 157 Fair Value Measurements
- SFAS 158—Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans (An Amendment of FASB Statements 87, 88, 106, and 132[R])
-
Statements of Financial Accounting Concepts (SFAC)
- SFAC 1 Objectives of Financial Reporting by Business Enterprises
- SFAC 2 Qualitative Characteristics of Accounting Information
- SFAC 5 Recognition and Measurement in Financial Statements of Business Enterprises
- SFAC 6 Elements of Financial Statements
- SFAC 7 Using Cash Flow Information and Present Value in Accounting Measurements
- 7. Regulation Exam Content
-
8. Professional Responsibilities and Business Law
- Professional Responsibilities and Business Law on the Regulation Examination
-
Module 21: Professional Responsibilities
-
Overview
- A. Code of Conduct and Other Responsibilities
- B. Accountant’s Legal Liabilities
- C. Legal Considerations Affecting the Accountant’s Responsibility
- D. Criminal Liability
- E. Responsibilities of Auditors under Private Securities Litigation Reform Act
- F. New Responsibilities and Provisions under Sarbanes-Oxley Act
- G. Additional Statutory Liability against Accountants
-
Overview
-
Module 22: Federal Securities Acts and Antitrust Law
-
Overview
- A. Securities Act of 1933
- B. Securities Exchange Act of 1934
- C. Sarbanes-Oxley Act of 2002
- D. Internet Securities Offering (ISO)
- E. Electronic Signatures and Electronic Records
- F. State “Blue-Sky” Laws
- G. Antitrust Law
- H. Sherman Act of 1890
- I. Clayton Act of 1914
- J. Federal Trade Commission Act of 1914
- K. Robinson-Patman Act of 1936
-
Overview
-
Module 23: Contracts
-
Overview
- A. Essential Elements of a Contract
- B. Types of Contracts
- C. Discussion of Essential Elements of a Contract
- D. Assignment and Delegation
- E. Third-Party Beneficiary Contracts
- F. Performance of Contract
- G. Discharge of Contracts
- H. Remedies
- I. Statute of Limitations
- J. Jurisdiction over Defendant for Online Transactions
- K. Interference with Contractual Relations
-
Overview
- Module 24: Sales
-
Module 25: Commercial Paper
-
Overview
- A. General Concepts of Commercial Paper
- B. Types of Commercial Paper
- C. Requirements of Negotiability
- D. Interpretation of Ambiguities in Negotiable Instruments
- E. Negotiation
- F. Holder in Due Course
- G. Rights of a Holder in Due Course (HDC)
- H. Liability of Parties
- I. Additional Issues
- J. Banks
- K. Electronic Fund Transfer Act and Regulation E
- L. Fund Transfers under UCC Article 4A
- M. Transfer of Negotiable Documents of Title
-
Overview
- Module 26: Secured Transactions
-
Module 27: Bankruptcy
-
Overview
- A. Alternatives to Bankruptcy Proceedings
- B. Bankruptcy in General
- C. Chapter 7 Voluntary Bankruptcy Petitions
- D. Chapter 7 Involuntary Bankruptcy Petitions
- E. Chapter 7 Bankruptcy Proceedings
- F. Claims
- G. Discharge of a Bankrupt
- H. Debts Not Discharged by Bankruptcy
- I. Revocation of Discharge
- J. Reaffirmation
- K. Business Reorganization—Chapter 11
- L. Debts Adjustment Plans—Chapter 13
- M. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
-
Overview
- Module 28: Debtor-Creditor Relationships
- Module 29: Agency
-
Module 30: Regulation of Employment and Environment
-
Overview
- A. Federal Social Security Act
- B. Workers’ Compensation Act
- C. Torts of Employee
- D. Employee Safety
- E. Employment Discrimination
- F. Federal Fair Labor Standards Act
- G. National Labor Relations Act (Wagner Act)
- H. Taft-Hartley Act
- I. Landrum-Griffin Act
- J. Federal Consolidated Budget Reconciliation Act (COBRA)
- K. Pensions
- L. Worker Adjustment and Retraining Notification Act
- M. Federal Employee Polygraph Protection Act
- N. Employer Rights to E-mail
- O. Environmental Regulation
- P. Telephone Consumer Protection Act
- Q. Federal Telecommunications Act
- R. Identity Theft
-
Overview
-
Module 31: Property
-
Overview
- A. Distinctions between Real and Personal Property
- B. Personal Property Can Be Acquired By
- C. Bailments
- D. Intellectual Property and Computer Technology Rights
- E. Interests in Real Property
- F. Contracts for Sale of Land
- G. Types of Deeds
- H. Executing a Deed
- I. Recording a Deed
- J. Title Insurance
- K. Adverse Possession
- L. Easement by Prescription
- M. Mortgages
- N. Lessor-Lessee
-
Overview
- Module 32: Insurance
-
9. Federal Taxation
- Taxes on the Regulation Examination
- Overview of Federal Tax Returns
- Module 33: I. Gross Income on Individual Returns
- II. “Above the Line” Deductions
- III. Itemized Deductions from Adjusted Gross Income
- IV. Exemptions
- V. Tax Computation
- VI. Tax Credits/Estimated Tax Payments
- VII. Filing Requirements
- VIII. Farming Income and Expenses
- IX. Tax Procedures
- X. Sources of Federal Tax Authority
- Module 34: Transactions in Property
- Module 35: Partnerships
- Module 36: Corporations
- Module 37: I. Gift And Estate Taxation
- II. Generation-Skipping Tax
- III. Income Taxation of Estates and Trusts
- IV. Income Tax Return Preparers
-
10. Business Environment and Concepts
- Business Environment and Concepts Exam Content
- Module 38: Business Structure
- Module 39: Information Technology
- Module 40: Economics and Strategy
- Microeconomics
- Macroeconomics
- The Effects of the Economic Environment on Strategy
- Module 41: Financial Management
- Working Capital Management
- Capital Structure
- Mergers
- Module 42: Risk Management and Capital Budgeting
- Derivatives and Hedging
- Present Value
- Capital Budgeting
- Module 43: Performance Measures
- Module 44: Cost Measurement
- Basic Cost Measurement Terminology
- Module 45: Planning, Control, and Analysis
Product information
- Title: Wiley CPA Exam Review 2007–2008: Volume 1, Outlines and Study Guides, 34th Edition
- Author(s):
- Release date: June 2007
- Publisher(s): Wiley
- ISBN: 9780471797531
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