Memorandum- CPA Report Vincent Mokwenye ACCA 545- Financial Reporting Monday December 18, 2012 Memorandum- CPA Report MEMORANDUM Date: December10, 2012 To: Libby Grimes Re: CPA Report In response to your request for information, this memo will address the methodology used to determine deferred taxes, the various procedures used for reporting accounting changes and error corrections, and the rationale for establishing the subsidiary as a corporation. In addition it will address
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SUBJECT: CPA Report The methodology used to deferred taxes is by having a temporary tax. By doing this the company can show what they have to pay for the years later on. The company can show how much is left by putting the temporary tax under the Long-term Liabilities on the balance sheet. Schroeder, Clark, & Cathey (2005) states: “Accounting for deferred taxes involves the following steps: Calculate taxable income and income tax payable for the year. Compute deferred income taxes
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CPA Report University of Phoenix ACC-545 Deborah Asbury January 14, 2013 CPA Report To: Managers, Dasher Corp From: ------------------------------------------------- Re: Response to questions for new corporation Methodology used to determine deferred taxes Deferred taxes are simply taxes that will occur in the net taxable amounts in future years ("Summary of Statement," 2012). Procedures for reporting accounting changes and error corrections First it needs to be determined
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03/15/2011 PrintCOURSE DESCRIPTION This course prepares students to address concepts of financial reporting for roles as CPAs. Students learn important criteria for calculating capital changes, applying concepts of fixed assets and cost determination, and preparing consolidated financial statements. Other topics include the professional responsibilities of CPAs, deferred taxes, cash flow statements, balance sheet preparation, restructuring of troubled debt, and the intricacies of comprehensive income
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CPA Report Furious Styles ACC/545 January 09, 2011 Instructor: LaToyia Tilley MEMORANDUM TO: Nazgrel Darkmoon, CEO FROM: Furious Styles DATE: January 09, 2011 SUBJECT: CPA report The recent acquisition of the subsidiary we have taken control of has been set up as a corporation. I have received your email regarding the aspects of this transaction that you would like to have explained, and will also give you an idea of what the professional responsibilities are for
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looking into deferred taxes, it is imperative to look into what the Financial Accounting Standards Board (FASB) has to say about the subject. " deferred tax liability is recognized for temporary differences that will result in net taxable amounts in future years." ("Financial Accounting Standards Board," n.d.). More simply stated deferred tax is a tax that is paid at a later period (ex. income tax, capital gains tax) which when the taxable item is obtained. An example of deferred taxes and the methodology
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CPA Report Furious Styles ACC/545 January 09, 2011 Instructor: LaToyia Tilley MEMORANDUM TO: Nazgrel Darkmoon, CEO FROM: Furious Styles DATE: January 09, 2011 SUBJECT: CPA report The recent acquisition of the subsidiary we have taken control of has been set up as a corporation. I have received your email regarding the aspects of this transaction that you would like to have explained, and will also give you an idea of what the professional responsibilities are
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MEMORANDUM TO: Outside CPAs , XYZ Company FROM: DATE: August 19, 2013 SUBJECT: CPA Report CC: Jane Doe, Accounting Manager A CPA has many professional responsibilities. My personal responsibilities are to take ownership in certain aspects of the organization such as finance and record keeping. Moreover, I am responsible for reviewing and auditing the financial books to ensure accuracy and compliance. A review consists of analytical procedures and inquiries to ensure there is no need
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Notes: Note 1: CPA Canada Handbook Part I applies to publicly accountable enterprises, CPA Canada Handbook Part II ASPE applies to private enterprises; CPA Canada Handbook Part III ASNFPO applies to not-for-profit organizations. CPA Canada Handbook Part IV ASPP applies to pension plans. For governments and government organizations, see under Public Sector Accounting (PSA) Handbook for details of what applies. Note 2: Part II and V Definitions may not be identical — check the CPA Canada Handbook
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Rigorous or Not?: A Case of Auditor Judgment for Deferred Tax Issues Leader’s Guide Leader’s Guide Rigorous or Not?: A Case of Auditor Judgment for Deferred Tax Issues Jan Taylor Morris, PhD, CPA Time: 3 hour unit of study Module Objectives 1. Help students understand the importance of exercising high quality professional judgment; 2. Introduce students to the KPMG Professional Judgment Framework; 3. Provide students with an opportunity to apply the framework; and 4. Provide students with the
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