dilemmas, some of which are complex and difficult to resolve. For instance, the capital markets’ focus on periodic profits may tempt a company’s management to bend or even break accounting rules to inflate reported net income. In these situations, technical competence is not enough to resolve the dilemma. ETHICS AND PROFESSIONALISM One of the elements that many believe distinguishes a profession from other occupations is the acceptance by its members of a responsibility for the interests of those it
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GAAP (Generally Accepted Accounting Principles), and provides validity of the information (Arens, Elder, & Beasley, 2012). Through this process the auditors will be looking to achieve a high level of assurance to reassure the confidence of management, board members, and investors. Auditors in the firm are experienced in the specified industry and have complete knowledge and familiarity with retail rules and regulations concerning aspect of accounting procedures. The firm has the
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PA2 EXAMINATION BLUEPRINT 2011/2012 Effective Date: December 2011 This document is the property of: CGA-Canada 100-4200 North Fraser Way Burnaby, British Columbia Canada V5J 5K7 Phone: 604 669-3555 Fax: 604 689-5845 www.cga.org/canada Updated: April 18, 2011 CGA-Canada PA2 Examination Blueprint 2011/2012 Table of Contents About the Examination Blueprint ......................................................................................................................... 2 PA2 Examination
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by bureaucracy, professionalism and departmentalism. In this paper we take a specific look at the National Offender Management Service (NOMS) from an accounting perspective to shed light on the influence and changes involved of defining something as an accounting entity. We will look closer at and critically evaluate the issues involved in the representation of NOMS as an accounting entity. Furthermore, we will analyze the implications of the representation of NOMS as an accounting entity on definitions
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for these offered services. Auditing and Assurance Services The management of Apollo Shoes can expect the highest level of service from AOW. AOW offers a variety of assurance and audit services, as well as a variety of accounting services, to meet the financial and accounting needs of its clients. One type of assurance service the company is able to provide is an attestation service “in which the CPA firm issues a report about the reliability of an assertion that is made by another party” (Arens
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CLASSIFICATION TALK Background When a lawyer named Paul Harris, a coal dealer, a mining engineer and a merchant tailor first met in 1905 in Chicago, they gave birth to Rotary and by the nature of their diverse occupations, to the association’s most distinctive feature – the classification principle. Today, the classification principle, though modified, remains a cornerstone of Rotary. Upon joining Rotary, you are lent a classification by the Board of Directors to reflect your occupation or primary
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and Ethics P3 Business Analysis Results Details Mark(%) 51 55 Result Pass Pass B Examination status at 8 February 2015 following the December 2014 session is: Paper details F1 F2 F3 F4 F5 F6 F7 F8 F9 Accountant in Business Management Accounting Financial Accounting Corporate and Business Law Performance Management Taxation Financial Reporting Audit and Assurance Financial Management Status Exemption Exemption Exemption Pass (66%) Pass (50%) Pass (60%) Pass (69%) Pass (64%) Pass (62%) Session Dec
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exercising sensitive professional and moral judgments on activities (AICPA, 2013). The principle of public interest requires the CPA to approach duties in a way that serves the public interest, honors the public trust and demonstrates commitment to professionalism (AICPA, 2013). The principle of integrity requires the CPA to maintain and expand public confidence, and execute professional duties with the highest level of integrity (AICPA, 2013). The principle of objectivity and independence requires the
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help explain why a subsidiary would be set up as a corporation. When 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
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created what one public official reported was a “crisis of confidence” on the part of the public in the accounting profession. List the parties who you believe were most responsible for that crisis. Briefly justify each of your choices. * Both the Securities and Exchange Commission and the Financial Accounting Standards Board had a hand in lack of the public’s confidence in the accounting profession. Due to the lack of regulation for SPEs at the time of Enron scandal, companies found it
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