This class was created by Brainscape user Sean Stenning. Visit their profile to learn more about the creator.
By:
Sean Stenning
- decks
- flashcards
- learners
Decks in this class (66)
Set 1 - AU Chapter 1 - Assurance Handbook and Regulatory Handbook
Who issues auditing standards in ...,
Which section of the handbook wou...,
Which section of the handbook dea...
9
cards
Set 1 - AU Chapter 2 - Fundamental Concepts
Are statutory audits voluntary,
Define agency risk how does this ...,
Define agency cost
6
cards
Set 1 - AU Chapter 3 - Client Acceptance
What four factors should be consi...,
Name 4 procedures auditors can un...,
What other factors must auditor c...
6
cards
Set 1 - AU Chapter 5 Materiality
What is step 1 when setting mater...,
What is step 2 when setting mater...,
In step 3 you determine the basis...
8
cards
Set 1 - AU Chapter 6 - Risk
Define audit risk,
What is the audit risk model,
Break down rmm into it s two comp...
10
cards
Set 1 - AU Chapter 7 - Fraud
When is the assessment of fraud r...,
What are the two types of fraud,
Name some conditions that create ...
7
cards
Set 1 - AU Chapter 8 - Going Concern
What is the going concern assumption,
What are some financial operating...,
What is management responsibility
6
cards
Set 1 - AU Chapter 9 - Approach
What are the two types of audit a...,
What does substantive approach in...,
When is the substantive approach ...
6
cards
Set 1 - FR - Chapter 5 - Inventories
What is included in inventory cost,
What are three costs included in ...,
What method of costing is require...
10
cards
Set 1 - FR Chapter 6 - PPE
What two criteria must be met for...,
What costs are capitalized,
Are sales taxes gst hst capitalized
20
cards
Set 1 - FR Chapter 10 - Impairment of Assets
When is an asset considered to be...,
Under ifrs name two times you tes...,
What is a cgu
13
cards
Set 1 - FR Chapter 13 - Revenue from Contracts with Customers
IFRS
24
cards
Set 2 - AU Chapter 4 Rules of Professional Conduct
What are the 5 cpa values,
Are contingent fees allowed,
Are auditors required to contact ...
5
cards
Set 2 - AU Chapter 10 Analytical Procedures
Analytical procedures are perform...,
Name the three types of analysis,
What are the first two steps of a...
4
cards
Set 2 - FR Chapter 3 Cash and Receivables
Is there any difference between a...,
Name 3 types of assets determined...,
Name 4 types of cash equivalents
15
cards
Set 2 - FR Chapter 4 Financial Instruments - Passive Investments
Define passive investments,
Under ifrs what are the three typ...,
When are these measured how are t...
29
cards
Set 2 - FR Chapter 15 Related Parties
Aspe first what is the issue with...,
Aspe first what are the two ways ...,
When rpt s are measured at carryi...
11
cards
Set 2 - FR Chapter 16 Government Assistance
All grants are recognized when tw...,
If conditions not yet met how is ...,
What are the two types of grants
14
cards
Set 3 - AU Chapter 11 System Concepts
What is the difference between da...,
What 5 components are typically f...,
What are the 4 layers in a pyrami...
4
cards
Set 3 - AU Chapter 13 Assertions
What are the balance sheet assert...,
What are the income statement ass...
2
cards
Set 3 - AU Chapter 14 Audit Evidence
When is audit evidence gathered p...,
Auditors must gather evidence tha...,
How is the auditor sure of the su...
8
cards
Set 3 - AU Chapter 15 Substantive Procedures
What are the two types of substan...,
Name 7 types of substantive proce...,
Formula for designing procedures
4
cards
Set 3 - FR Chapter 8 Leases
See the downloaded guide,
What is the date of commencement ...,
What costs are included in the in...
51
cards
Set 3 - FR Chapter 14 NMT
How are nmt s value,
If fair value of both asset given...,
If fair value of both asset given...
10
cards
Set 3 - FR Chapter 17 Disc Ops
Conditions under ifrs to qualify ...,
Further actions to be taken to en...,
Measurement of hfs
13
cards
Set 4 FR Chapter 9 Goodwill
Provide 5 examples of intangible ...,
3 aspects of an intangible to define,
It must also meet two other crite...
16
cards
Set 4 FR Chapter 12 Contigencies
Ifrs contingent liability vs prov...,
When is a contingency considered ...,
Three likelihoods under ifrs how ...
12
cards
Set 4 FR Chapter 18 Foreign Currency Transactions
Define functional currency,
How are transactions measured ini...,
What rate is used for interest pa...
10
cards
Set 4 FI 13 Purchase, Expansion or Sale of Business
What are some questions asked whe...,
What are some assets which may be...,
And some liabilities
18
cards
Set 4 FI 17 Valuations: Big Picture
Main reason for needing a valuation,
Some other reasons,
Define fmv
14
cards
Set 4 FI 18 Valuations: Asset-Based Approaches
4 steps of a liquidation approach,
3 steps of a adjusted net asset a...,
How are intangible assets valued ...
7
cards
Set 4 FI 19 Valuations: Income-Based Approaches
8 steps of capitalized cash flow ...,
How to estimate ebitda,
What is used for capitalization rate
12
cards
Set 4 FI 20 Valuations: Tangible and Intangible Assets
Define value in use,
Define highest and best value,
Define liquidation value
14
cards
Set 5 FR 11 Decommissioning Provisions
3 criteria for recognizing decomi...,
Initial measurement how is it don...,
Subseq measurement
4
cards
Set 5 FR 23 Income Taxes
Entry for tax payable current year,
How is the income tax shown when ...,
What are some permanent differenc...
21
cards
Set 5 FR 25 Investments in Associates
Define joint control of a busines...,
Define joint control of a busines...,
Define significant influence
15
cards
Set 6 FR 21 Employee Benefits
Define short term benefits how ar...,
When are profit sharing and other...,
Dc plans what expense is recogniz...
19
cards
Set 6 FR 22 Share-based payment
When are share options recognized,
Compenstion expense for share opt...,
Two reasons derecognition happens...
8
cards
Set 7 Hedge Accounting
List 4 eligible hedged items,
Two types of eligible hedging ins...,
3 criteria to be able to apply he...
20
cards
Set 7 FR 24 EPS
Two types of eps,
Formula for basic eps,
What is net earnings loss how do ...
20
cards
Set 7 FR 26 Business Combinations - Date of Acqusition
What are the two types of purchases,
In which scenario is consolidatio...,
Define parent
19
cards
Set 7 FR 30 Changes in accounting
How are changes in estimates acco...,
How are changes in estimates acco...,
Disclosures required
13
cards
Set 7 FR 33 Events after reporting period
Define subsequent events,
First step materiality,
Define adjusting and non adjustin...
6
cards
Set 7 FR 34 MDA
6 objectives of mda,
5 elements of disclosure
2
cards
Set 8 FR 28 Joint Arrangements
Define joint arrangement,
Define joint control,
Two types of joint arrangements
12
cards
Set 8 FR 29 Foreign Ops
Define foreign operation,
Define presentation currency,
Primary criteria for determining ...
26
cards
Set 8 FR 37 Public Sector Accounting Standards
Typical users of government state...,
What are users looking to see,
Objectives of reporting
4
cards
Set 8 FR 36 NFP
What framework do nfp follow,
4 statements in nfp,
Two types of reporting
23
cards
Set 6 TX Business Income
Define business income,
What does the ita say about expenses,
Common add backs to net income
4
cards
Set 6 TX CCA
Do companies have to take cca,
When can cca be claimed on an asset,
Formula to calculate cca
14
cards
Set 7 FR 27 Business Combinations - sub meas
What 4 statements are required po...,
First step is to amortize fv diff...,
Define current period amortization
8
cards
Set 4 TX Purchase and Sale of assets vs shares
Direct asset purchase for purchas...,
Direct asset purchase for purchas...,
Direct asset purchase for purchas...
19
cards
Set 5 TX Legal Forms and Structures
4 types of legal entities,
3 types of corporations,
Advantages of sp partnerships
6
cards
Set 6 TX Tax Admin
Individual filing deadlines,
Corp filing deadlines,
Individual balance due date
6
cards
Set 6 TX Liability for Tax
Determining residency primary fac...,
Determining residency primary fac...
2
cards
Set 6 Div C deductions - corp
Restriction on charitable donatio...,
Ncl income used against and rules,
Ncl income used against and rules
4
cards
Set 6 TX Employee vs Contractor
Main tests 6,
Tax implications of being employee,
Tax implications of being employee
3
cards
TX Set 6 Employment Income
Taxation year for an individual,
How is employment income taxes,
Are allowances taxable exceptions
8
cards
Set 6 TX Property Income
What method of interest reporting...,
Interest reporting individuals,
Dividends corporations
9
cards
TX Set 6 Capital Gains
Factors to consider if an item is...,
Election for sale of securities,
How are superficial losses treate...
4
cards
TX Set 6 Other Income
What is included in other income,
Can pension income be split criteria,
Benefits of pension income splitting
8
cards
TX Set 6 Other Deductions
Are cpp contributions deductible,
How much is the enhanced cpp cont...,
Is cpp paid for employed people d...
7
cards
TX Set 6 Deferred Income Plans
Penalty for over contributions to...,
Can you contribute to spousal rrs...,
When are rrsp s terminated
5
cards
TX Set 6 Lifetime Capital Gains Exemption
Who can get the lgce
1
cards
FI 4 Investing and Portfolio Diversification
Standard deviation of two returns...,
Positive correlation what does th...,
Positive correlation what does th...
16
cards
TX 8 HST
Define zero rated,
Define exempt
2
cards
More about
Core 1
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Sean Stenning's Core 1 flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
Comptia A+ Core 1
- 41 decks
- 462 flashcards
- 15 learners
Decks:
Network Devices Comptia Objective 22, 80211 Wireless Standards Comptia Objecti, Network Services Comptia Objective 25, And more!
CompTIA Practice (core 1)
- 19 decks
- 366 flashcards
- 15 learners
Decks:
Personnel Practice Questions 11, Personnel Practice Questions 12, Personnel Practice Questions 13, And more!
Level 1 - RW Core Lessons
- 19 decks
- 448 flashcards
- 642 learners
Decks:
8 Vocabulary Level 1 Part 1 Level 1 Basi, 9 Verbs Level 1 Part 1 Level 1 Basic, 10 Gender Of Nouns Level 1 Basic, And more!
Core 1
- 19 decks
- 430 flashcards
- 11 learners
Decks:
Tumour Evolution And Cancer Hallmarks, Normal Vs Cancer Tissue, Histology Techniques In The Clinic, And more!
