8/26 Class Flashcards
recommendations
print slides out before class
homework
due before class
credit no credit 60% or higher
only multiple choice
2 are dropped
teacher gone for first three weeks
:(
next class homework
read chapters 1-2, HW multiple choice problems CH 1-2
emailing
ALL MATERIALS SUBMITTED FOR GRADING MUST INCLUDE YOUR NAME, ID NUMBER, COURSE NUMBER AND SECTION TO
RECEIVE CONSIDERATION!
Cases
5 of them research based using checkpoint, done in groups of 2-3 Format - professional presentation Appropriate info in the heading id of issues research & discussion of issues references to professional standards - Checkpoint Conclusions Bibliography contribute on each case 1 is dropped
Late Work
there is no late work
Class Segments
The Assurance Profession
The Assurance Process
Performing Procedures & Conducting the Audit
Exams
not cumulative
taken from prior cpa exams
50-60 questions
Group Projects
teams of 4-5 students
select your groups
lottery on september 23
evaluation at the end of the semester
review in back of chapters
read them they help
clicker quizzes
you need a clicker unannounced one clicker quiz is dropped
reading
do ahead of time
exams
exam 1: 1-5, 25, Case 1
exam 2: 6-13 , Case 2
exam 3: 14,16,18-24, Case 3
forms of attestation
examination(audit) historical financial statements internal control(section 404) review agreed upon procedures compliance forecasted financial statements information technology
types of public accounting firms
local firms
regional firms
national firms
big 4 firms
other assurance service
other jobs that provide assurance such as the oscar ballot counters
non assurance services
accounting and bookkeeping compilation tax services consulting services litigation support fraud investigation
GAAS
generally accepted auditing standards
types of auditors
CPA firms
government accountability auditors
internal auditors
internal revenue service agents
AICPA
make rules on non public companies
PCAOB
make rules on public companies, works under SEC
auditing standards
statements on auditing standards (SASs) - rules for all audits of nonpublic companies
compilation and review standards
statements on standards for accounting and review standards (SSARS)
public accounting firm professional staff
partner senior manager manager senior staff or associate
CPA requirements
150 semester hours generally an accounting degree experience requirement CPA exam other state exams
CPA exam
auditing and attestations
financial accounting & reporting
regulation
business environment & concepts
