By Siegel, Joel G.; Dauber, Nicky A.; Shim, Jae K
The newly up to date fast-reference challenge solver
The whole CPA table Reference—the handy, finished reference pros have depended on for almost fifteen years—is now up-to-date in a brand new 5th version to offer modern-day busy executives and accountants the invaluable info they want in a quick-reference layout. full of functional ideas and principles of thumb for fixing day by day accounting matters, the recent version is helping you speedy pinpoint what to appear for, what to monitor out for, what to do, and the way to do it. In an easy-to-use Q & A structure, it covers such helpful subject matters as IFRS criteria, inner keep an eye on over monetary reporting monetary measures, ratios, and procedures.
- Includes entire assurance of the danger review Auditing criteria and criteria of the PCAOB
- Incorporates Accounting criteria Codification (ASC) during the book
- Adds new chapters on expert ethics and quality control for CPA firms
- Features a brand new part on overseas monetary Reporting criteria (IFRS)
Packed with checklists, samples, and worked-out ideas to numerous accounting difficulties, this trustworthy reference device is a robust spouse for the complicated, ever-changing international of accounting.
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Extra resources for The Complete CPA Reference
Assume ABC instead decides to continue in the beauty care business but discontinue the brands with which the losses are associated. Because these brands are part of a larger cash-flow-generating product group and, in the aggregate, do not constitute a group that on its own is a component of ABC, the conditions for reporting in discontinued operations the losses associated with the brands that are discontinued would not be satisfied. The income of a component of a business that either has been disposed of or is held for sale is reported in discontinued operations only when both these criteria have been satisfied: The profit and cash flows of the component have been (or will be) eliminated from the ongoing operations of the company due to the disposal decision.
The retail method is used to estimate the ending inventory at cost by employing a cost-to-retail (selling price) ratio.
Revenue is recognized prior to sale or exchange. REQUIREMENTS There must be: A stable selling price Absence of material marketing costs to complete the final transfer Interchangeability in units This approach is used: With agricultural products, by-products, and precious metals when the aforementioned criteria are met In accounting for construction contracts under the completed contract method During Production When can I recognize revenue during production? In the case of long-term production situations, revenue recognition is made when both of the following conditions exist: An assured price for the completed item exists by contractual agreement.
The Complete CPA Reference by Siegel, Joel G.; Dauber, Nicky A.; Shim, Jae K