THE CPA STUDY GUIDE THAT PUTS YOU ON THE FAST TRACK TO SUCCESS!This tightly focused study guide ––now thoroughly updated to cover the latest changes in the CPA Exam––cuts away all the excess information to simply give you what you need to know. Presenting the absolute key points and precise steps to take in preparing for the CPA Exam, the Wiley CPA Exam Review Fast Track Study Guide, Fourth Edition includes sample questions and solutions that will help you master the CPA Examination.O. Ray Whittington, well-known author and professor, has compiled this book using his extensive experience in preparing candidates for the CPA Exam. His time-honored and highly successful outline approach includes:The most essential and current material needed to successfully pass the exam, including discussion of the simulation-style questionsThoroughly revised content to prepare readers for the new computerized CPA ExamTest-taking strategies, tips, and techniquesCoverage of new financial accounting standards including SFAS 155, Accounting for Certain Hybrid Financial Instruments; 157, Fair Value Measurements; and 159, Fair Value Option for Financial Assets and Financial LiabilitiesCoverage of new auditing standards, especially AICPA Statement on Auditing Standards Nos. 104 through 111 (Risk Assessment Standards) and the latest PCAOBsYou can pass the CPA Exam —Wiley CPA Exam Review Fast Track Study Guide, Fourth Edition helps you preparefor, master the concepts in—and pass—the CPA Exam.Don't miss these other important study aids from the Wiley CPA Examination Review:Wiley CPA Exam Review: Two-Volume SetVOLUME 1: Outlines and Study GuidesVOLUME 2: Problems and SolutionsWiley CPA Exam Review: Four-Volume SetAuditing and AttestationBusiness Environment and ConceptsFinancial Accounting and Reporting RegulationWiley CPA Exam Review Practice Software Auditing and AttestationBusiness Environment and ConceptsFinancial Accounting and Reporting RegulationWiley CPA Exam Review Focus Notes, Fifth EditionWiley CPA Exam Review, How to Master SimulationsMastering Accounting Research for the CPA Exam, Second EditionWiley CPA Exam Review Impact Audios, Third EditionAuditing and AttestationBusiness Environment and ConceptsFinancial Accounting and Reporting Regulation
Author(s): O. Ray, CPA, PhD Whittington
Edition: 4
Year: 2008
Language: English
Pages: 384
Wiley CPA Exam Review Fast Track Study Guide 4th Edition......Page 3
TABLE OF CONTENTS......Page 5
INTRODUCTION......Page 7
TABLE OF CONTENTS AUDITING AND ATTESTATION......Page 9
OVERVIEW OF AN ATTEST FUNCTION......Page 11
AUDIT OPINIONS......Page 15
USE OF REPORT OF ANOTHER AUDITOR......Page 21
COMPARATIVE FINANCIAL STATEMENTS......Page 23
COMPILATIONS AND REVIEWS......Page 26
OVERVIEW OF THE AUDIT OF FINANCIAL STATEMENTS......Page 30
AUDIT RISK......Page 33
INTERNAL CONTROL......Page 39
EVIDENCE GATHERING......Page 44
ACCOUNTS RECEIVABLE AND REVENUES......Page 52
STATISTICAL SAMPLING......Page 57
INVENTORY AND ACCOUNTS PAYABLE......Page 63
AUDITING WITH TECHNOLOGY......Page 68
FLOWCHARTING......Page 70
CASH RECEIPTS AND CASH BALANCES......Page 72
SPECIAL REPORTS AND OTHER REPORTS......Page 75
LONG-TERM LIABILITIES AND CONTINGENCIES......Page 80
PAYROLL......Page 83
LAND, BUILDINGS, AND EQUIPMENT......Page 85
INVESTMENTS......Page 87
INDEX......Page 90
FINANCIAL ACCOUNTING AND REPORTING......Page 94
ACCOUNTS RECEIVABLE AND BAD DEBT EXPENSE......Page 95
PRESENT VALUE COMPUTATIONS......Page 99
LAND, BUILDINGS, AND EQUIPMENT (FIXED ASSETS)......Page 102
BONDS AND NOTES; PAYABLES AND INVESTMENTS (IF TO BE HELD TILL MATURITY)......Page 107
MISCELLANEOUS FINANCIAL STATEMENTS......Page 112
STOCKHOLDERS’ EQUITY......Page 114
ACCOUNTING FOR LEASES......Page 119
MISCELLANEOUS ACCOUNTING CONCEPTS......Page 123
MARKETABLE SECURITIES......Page 126
LONG-TERM CONSTRUCTION CONTRACTS......Page 129
INSTALLMENT SALES METHODS......Page 131
STRUCTURE OF AN INCOME STATEMENT......Page 133
CONTINGENCIES AND OTHER LOSSES AND LIABILITIES......Page 136
DEFERRED INCOME TAXES......Page 138
EQUITY METHOD OF ACCOUNTING FOR INVESTMENTS......Page 143
CONSOLIDATED FINANCIAL INFORMATION......Page 146
STATEMENT OF CASH FLOWS......Page 151
INTANGIBLE ASSETS......Page 156
PENSION ACCOUNTING......Page 159
INVENTORY......Page 163
ACCOUNTING CHANGES......Page 168
PARTNERSHIP ACCOUNTING......Page 170
FINANCIAL INSTRUMENTS......Page 173
EARNINGS PER SHARE......Page 175
FOREIGN CURRENCY BALANCES......Page 178
DISPOSAL OF A COMPONENT......Page 182
REPORTING SEGMENTS OF AN ENTERPRISE......Page 183
GOVERNMENTAL ACCOUNTING—FUND ACCOUNTING AND FINANCIAL STATEMENTS......Page 185
GOVERNMENTAL ACCOUNTING—FINANCIAL REPORTING PROCESS......Page 191
ACCOUNTING FOR NOT-FOR-PROFIT ORGANIZATIONS......Page 200
INDEX......Page 205
TABLE OF CONTENTS REGULATION......Page 209
PROFESSIONAL RESPONSIBILITIES......Page 211
FEDERAL SECURITIES REGULATIONS......Page 215
SARBANES-OXLEY ACT......Page 223
CONTRACTS......Page 225
AGENCY......Page 235
SALES—UNIFORM COMMERCIAL CODE (ARTICLE 2)......Page 238
SECURED TRANSACTIONS—UNIFORM COMMERCIAL CODE (ARTICLE 9)......Page 244
NEGOTIABLE INSTRUMENTS......Page 248
BANKRUPTCY......Page 253
DEBTOR AND CREDITOR RIGHTS......Page 261
REAL PROPERTY......Page 264
EMPLOYMENT LAWS AND ENVIRONMENTAL REGULATIONS......Page 268
INSURANCE......Page 275
OVERVIEW OF INDIVIDUAL INCOME TAXES......Page 278
INDIVIDUAL INCOME TAXES—INCOME......Page 282
INDIVIDUAL INCOME TAXES—EXCHANGES......Page 286
INDIVIDUAL INCOME TAXES—DEDUCTIONS FOR ADJUSTED GROSS INCOME (AGI)......Page 290
INDIVIDUAL INCOME TAXES—ITEMIZED DEDUCTIONS......Page 293
INDIVIDUAL INCOME TAXES—TAX CREDITS......Page 297
INCOME TAXATION OF PARTNERSHIPS AND S CORPORATIONS......Page 299
CORPORATE INCOME TAXES—INCOME......Page 304
CORPORATE INCOME TAXES—EXPENSES......Page 307
CORPORATE INCOME TAXES—OTHER AREAS......Page 310
OTHER TAXATION AREAS......Page 315
INDEX......Page 318
TABLE OF CONTENTS BUSINESS ENVIRONMENT AND CONCEPTS......Page 323
BUSINESS STRUCTURE......Page 325
INFORMATION TECHNOLOGY......Page 332
MICROECONOMICS......Page 338
MACROECONOMICS......Page 340
BUSINESS STRATEGY......Page 344
FINANCIAL MANAGEMENT......Page 346
WORKING CAPITAL MANAGEMENT......Page 347
FINANCING CURRENT ASSETS......Page 352
CAPITAL STRUCTURE......Page 354
RISK MANAGEMENT......Page 358
CAPITAL BUDGETING......Page 361
QUANTITATIVE METHODS......Page 364
PERFORMANCE MEASURES......Page 366
QUALITY CONTROL PRINCIPLES......Page 369
FINANCIAL PLANNING......Page 371
COST-VOLUME-PROFIT ANALYSIS......Page 373
COST ACCOUNTING......Page 375
VARIANCE ANALYSIS......Page 380
INDEX......Page 382
