An accounting change is a change in (1) an accounting principle, (2) an accounting estimate, or (3) the reporting entity. The correction of an error in previously issued financial statements is not an accounting change. FASB ASC 250-10-20
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Financial Accountability is the obligation to explain one’s actions or to justify what one does. Accountability is one of the primary objectives of financial reporting. It is information about how management discharged its stewardship responsibility to owners or to the citizenry regarding the use of resources entrusted to it. “Accountability requires governments to answer to
An account balance is a dollar amount appearing on financial statements. An account balance is a control account composed of many constituent items (e.g., accounts receivable control account represents the sum of all individual accounts receivable, sales represents the sum of hundreds of sales invoices).
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Audit Client Acceptance: CPA firms should establish policies and procedures for determining the acceptance of a client to minimize the risk of being associated with a client whose management lacks integrity.
Read MoreThe NINJAs are giving away 5 Ten Point Combo sections in the CPA Exam Forum tonight. Deadline to enter is 11pm EST. Click here for more details.
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Over the weekend, messages started popping up in the Another71 Forum that they had received phone calls indicating that their previously failed CPA Exam section from had changed from Fail to Pass. Here are the key points to know: This isn’t a hoax. Another71.com has confirmed that this did happen and steps are
Please email jeff@another71.com with any questions you may have.
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Start getting used to the smell of dry erase markers. Apparently CPA Exam security measures are being tightened at exam centers. In the past – candidates would get a few pencils and some scratch paper (which you had to turn in before you left). Those days appear to be over. Dry erase “noteboards” and markers
Get more info on the CPA Exam Score Release Timeline.
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The NINJAs are have nailed every CPA Exam Score Release date in 2012. With the perfect streak continue Tuesday? Stay tuned to the Another71 Forum – for updates.
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