Description : Which of the following is prohibited by the Code of Professional Ethics for CPAs? a. Use of a firm name which includes the name of a retired partner. b. Accepting an engagement or ... newspaper of the opening of a public accounting office. d. Engaging in civic activities during business hours
Last Answer : Accepting an engagement or employment which one cannot reasonably expect to complete or discharge with professional competence
Description : Which is the best accounting firm in Dubai?
Last Answer : Online Accounting has one objective: to help entrepreneurs track costs and deals and encourage the running of the business. The better a business can follow its approachesand outgoings, the ... venture with complete virtual accounting answers for the development of your business.The best online
Description : What services does an accounting firm provide to businesses and do their employees have to have any special certifications?
Last Answer : Most accounting firms are headed by certified professional Accountants. Taxes, month-end and year-end statements are part of the services provided.
Description : Which office software is best for an accounting firm?
Last Answer : Microsoft Office is the dominant software for office work.
Description : A Firm is considering undertaking a project that would yield annual profits (after depreciation) of Rs 68,000 for 5 years. The initial outlay of the project would be Rs 800,000 and the project's assets would have ... accounting rate of return for this project? A 16% B 8.5% C 8.0% D 9.1%
Last Answer : A 16%
Description : A CPA firm is considered independent when it performs which of the following services for a publicly traded audit client? a. Serving as a member of the client's board of directors. b. ... approved by the board of directors. d. Determining which accounting policies will be adopted by the client
Last Answer : Tax return preparation as approved by the board of directors.
Description : In pursuing its quality control objectives with respect to assigning personnel to engagements, a public accounting firm may use policies and procedures such as a. Rotating employees from ... the staffing requirements of specific engagements so that enough qualified personnel can be made available
Last Answer : Requiring timely identification of the staffing requirements of specific engagements so that enough qualified personnel can be made available
Description : The objective of quality control mandates that a public accounting firm should establish policies and procedures for professional development which provide reasonable assurance that all entry-level ... accounting. d. Have the knowledge required to enable them to fulfill responsibilities assigned
Last Answer : Have the knowledge required to enable them to fulfill responsibilities assigned
Description : Most accounting and auditing professionals agree that when an audit has failed to uncover material misstatements, and the wrong type of audit opinion is issued, the audit firm a. Has failed to ... lawsuit. d. Should not be held responsible for the financial loss suffered loss suffered by others
Last Answer : Should be asked to defend the quality of the audit
Description : A person or firm possessing special skill, knowledge and experience in a particular field excluding accounting and auditing. a. Quality control reviewer b. Multiskilled personnel c. Expert d. Taxation specialist
Last Answer : Expert
Description : A CPA firm is considered independent when it performs which of the following services for a publicly-traded audit client? a. Serving as a member of the client's board of directors. b. ... information system design and implementation. d. Tax return preparation as approved by the board of directors.
Description : Which of the following best describes why publicly-traded corporations follow the practice of having the outside auditor appointed by the board of directors or elected by the stockholders? a. ... opportunity to voice their opinion concerning the quality of the auditing firm selected by the director
Last Answer : To emphasize auditor independence from the management of the corporation
Description : For initial audits, additional matters the auditor may consider in the overall audit strategy and audit plan include the following except a. Major issues including the application of ... firm personnel with appropriate levels of capabilities and competence to respond to anticipated significant risks
Last Answer : Confirmation of material accounts receivable balance at the end of the year.
Description : A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an ... bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period
Last Answer : Issued an unqualified opinion on the 2006 financial statements when fees for the 2005 audit were unpaid
Description : A CPA who has been retained by a client that operates in an industry totally new to him a. May not accept such an engagement. b. May accept the engagement only if the ... to commercial banking. d. May accept the engagement because training as a CPA transcends unique industry characteristics
Last Answer : May accept the engagement after attaining a suitable level of understanding of the transactions and accounting practices unique to commercial banking.
Description : Without the consent of the client, a CPA should not disclose confidential information contained in working papers to a: a. Voluntary quality control review board. b. CPA firm that has purchased the ... . c. National court that has issued a valid subpoena. d. Disciplinary body created under statute.
Last Answer : CPA firm that has purchased the CPA’s accounting practice.
Description : A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting ... firm's practice of monthly write-ups for a percentage of fees received over a three-year period.
Last Answer : Issued an unqualified opinion on the 2010 financial statements when fees for the 2009 audit were unpaid
Description : Regulation of the accounting profession include: a. Public Regulation as provided for in the Philippine Accountancy Act of 2004. b. Regulation within the profession, through the implementation of the Code of ... the firm, through the implementation of a system of quality control. d. All of these.
Last Answer : All of these.
Description : In determining the scope and nature of services to be performed in public practice, a CPA firm should a. Have in place internal control procedures b. Only perform accounting related services c. ... that the performance of all services is consistent with the firm's members' role as professionals
Last Answer : Determine that the performance of all services is consistent with the firm's members' role as professionals
Description : Question: Arthur Andersen is an Accounting Firm which has been dissolved following their involvement in which scandal?
Last Answer : Answer: Enron Scandal
Description : Realising that his new video game will be on the edge of contributing some profit in its second year, Gary lobbies hard to have the accounting department assign other projects in the firm ... . These costs are called __________ costs. A)fixed B)variable C)traceable common D)nontraceable common
Last Answer : D)nontraceable common
Description : A sales representative from a software company shows an accounting firm that a new software package can perform bookkeeping tasks that the firm's present package cannot. The accounting firm ... ? A)problem recognition B)product specification C)product supplier search D)product selection
Last Answer : A)problem recognition
Description : A/An ________ is a formal evaluation of an organization's financial statements, performed either by an outside accounting firm or by an internal department. (a) Revenue operating budget ; (b) Incident log ; (c) Financial audit ; (d) Balance sheet budget
Last Answer : (c) Financial audit ;
Description : A firm that break even after all the economic costs are paid in earning (a) Economic profit ; (b) Accounting profit ; (c) Normal profit ; (d) Super normal profit
Last Answer : (c) Normal profit ;
Description : I will like to find a firm I can consult to find information on how to start a non-emergency medical transportation business.?
Last Answer : We are a non-emergency medical transportation company and consulting firm. You may contact us a 561-615-7255 please ask for Howard Berkowitz, Vice President - Business Operations
Description : What are some accounting software titles that are highly recommended for small business use?
Last Answer : QuickBooks from Intuit is the most highly regarded accounting software platform for small businesses. It is available for both Mac and Windows and offers online access too.
Description : Has business accounting software positively changed small accounting agencies as well as consumer conveniences?
Last Answer : Business accounting software has changed accounting agencies and consumer conveniences. It is now a lot easier to have account information done with software. Many people prefer this method and it works ... records for themselves. This way they also are able to know what the accountant does.
Description : Where can I find accounting help for my small business?
Last Answer : You can look in the phone book to hire an accountant. If you want an long term accountant, hire one. Advertise in a newspaper or ask friends or other businesses for Accountants.
Description : Which of the following information about the UNIX file system is not correct? (A) Super block contains the number of i-nodes, the number of disk blocks, and the start of the list of free disk blocks. (B ... Each i-node is 256-bytes long. (D) All the files and directories are stored in data blocks.
Last Answer : (C) Each i-node is 256-bytes long.
Description : Can anyone start a private investigator firm?
Last Answer : Yes, anyone start a private investigator firm. You can read about how to start a firm at answers.Google.com/answers/threadview/id/529001.html If your an actual private detective you can. In order to become one you need to enroll in a detective school first.
Description : Approximately how much funds are needed to start an investment firm?
Last Answer : You can now start investing with very little money up front If investing in individual companies is your goal, you might want to consider Direct Purchase but generally speaking, it's a great way to start investing today without much money.
Description : Previously, when a high-technology project was undertaken by a firm, it would start its journey through firm in A. Manufacturing department B. Functional department C. Execution Department D. R & D department
Last Answer : R & D department
Description : Excel - Business Accounting?
Last Answer : answer:It won't be that hard. Google income statement templates or Balance Sheet Templates - there are zillions of them on the Web. I found this one on Microsoft's website - it took about 5 ... industry (or company) you are analyzing. But the templates have done most of the hard work for you.
Description : 20) Use Accounting Equation to show the effect of the following transactions of Ram Traders.a) Started business with cash ₹ 1,00,000.b) Bought goods for cash \( ₹ 20,000 \).c) Cash sales ₹ \( 60,000 . \)
Last Answer : 20) Use Accounting Equation to show the effect of the following transactions of Ram Traders. a) Started ... 000 . c) Cash sales ₹ 60,000 .
Description : What is the business process area that performs funds analysis and budgetary accounting in GFEBS?
Last Answer : REIMBURSABLES
Description : How to Use Payroll Accounting Software to Streamline Your Business?
Last Answer : Payroll accounting software can assist you in managing your finances, even if you don’t have a lot of time or experience with payroll accounting. The software will take over all of the hard ... time and money with consistent use. You will definitely want to shop around before choosing the automat
Description : How To Learn Business & Accounting Software?
Last Answer : Business & Accounting SoftwareWhen it comes to keeping track of accounts for customers andvendors, manual accounting with a one-write system is laborious andtime-consuming. Most accounting ... data entry manner.Other Business SoftwareIn addition to business accounting software, most businessesfind
Description : What tax accounting software allows you to add multiple business and personal all into one account?
Last Answer : Both TurboTax and HR Block software now have this capability in many of their higher end home products. Quicken does not yet have this option but is planning to include it in future releases of their software.
Description : How will an accounting class help me in my business?
Last Answer : An accounting class would help you manage your books and check both profits and losses for your business. A general accounting course would just give you the basic principles.
Description : Hire a Business Accounting Service?
Last Answer : form_title=Hire a Business Accounting Service form_header=Having trouble keeping all the forms and numbers straight? Hire an accounting service to help, How large is your business?=_ Is your business a transaction-heavy one ... Yes () No Do you keep records of all purchases and sales?= () Yes () No
Description : What does accounting services have to do with business to business services?
Last Answer : Accounting services are a crucial part of business to business service. This ensures that all of your bookkeeping is done in a fair and balanced way between companies and businesses.
Description : Which of the following is a quality management system that gives titles to specialists and requires a cost-benefit analysis? Select one: a. Lean accounting b. Business process re-engineering c. Kaizen d. Six Sigma e. Total Quality Management
Last Answer : d. Six Sigma
Description : Which of the following is least likely to be required on an audit? a. Review accounting estimates for biases. b. Test appropriateness of journal entries and adjustment. c. ... determination of whether fraud has occurred. d. Evaluate the business rationale for significant unusual transactions
Last Answer : Make a legal determination of whether fraud has occurred.
Description : Which of the following is least likely to be required on an audit? a. Review accounting estimates for biases b. Test appropriateness of journal entries and adjustment c. Make a legal determination of whether fraud has occurred d. Evaluate the business rationale for significant, unusual transactions
Last Answer : Make a legal determination of whether fraud has occurred
Description : The auditor's understanding of the entity and its environment consists an understanding of the following aspects: a. Industry, regulatory and other external factors, including the applicable financial reporting ... may result in a material misstatement of the financial statements d. All of these.
Description : PSA requires that the auditor should obtain an understanding of the entity's objectives and strategies, and the related business risks that may result in material misstatement of the financial statements. ... receivables. b. Contracting economy. c. New accounting requirements. d. Use of new IT
Last Answer : Contracting economy.
Description : In planning the audit engagement, the auditor should consider each of the following, except a. Matters relating to the entity's business and the industry in which it operates. b. Materiality level and ... or adverse) that is likely to be expressed. d. The entity's accounting policies and procedures.
Last Answer : The kind of opinion (unmodified, qualified, or adverse) that is likely to be expressed
Description : Which of the following does not constitute a practice of accountancy? a. A person holding out himself as one skilled in the knowledge, science and practice of accounting and as a qualified person ... d. A person is appointed as a marketing director of a government owned and controlled corporation.
Last Answer : A person is appointed as a marketing director of a government owned and controlled corporation.
Description : A CPA is in public accounting practice when he/she a. Holds, or is appointed to, in an accounting professional group in government or in a government-owned and/or controlled ... advisory services, accounting aspect of finance, business law, taxation, and other technically related subjects
Last Answer : Represents his/her clients before government agencies on tax and other matters related to accounting