AICPA Study guides, Class notes & Summaries

AICPA FINAL EXAM

AICPA, Exam Review Questions and answers/ The Principles state that a member has responsibility to colleagues, to clients and to the profession. - -(False) Rules are the cornerstone of ethical behavior. - -(False) In performing an attest engagement, a member should only rely on the AICPA rules of conduct regarding independence. - -(False) The principles apply the rules of conduct and interpretations to particular circumstances. - -(False) Professional services include all services perf...

AICPA BEC, Exam Review Questions and answers A company predicted that it would manufacture 10,000 units of finished goods during March. The DL standards indicated that each unit of finished goods requires 2.4 direct labor hours at a standard wage of $20 per hour, totaling $48 per finished good. During March, the company actually made 9,000 units. Product was 2.5 labor hours per unit and the company actually paid $21 per hour, totaling $52.50 per unit of finished good. What amount is t...

AICPA CODE of Conduct 2. Exam Questions and answers, rated A+ According to the AICPA Code of Professional Conduct, a CPA's independence from a nonissuer client would most likely be impaired if the CPA A. Accepted any gift from a client. B. Became a member of a trade association that is a client. C. Contracted with a client to supervise the client's office personnel. D. Attended meetings of the client's board of directors as a nonvoting advisor. C According to the AICPA Code of ...

AICPA Code of Conduct Questions and answers, VERIFIED/ What are the 6 Principles of the AICPA Code of Professional Conduct? - 1. Responsibilities 2. The Public Interest 3. Integrity 4. Objectivity 5. Due Care 6. Scope and Nature of Services What is the Structure of the AICPA Code of Professional Conduct? - Preface Code Part 1: Members in Public Code Part 2: Members in Business Code Part 3: Other Members Where in the AICPA are the 6 principles found? - The Preface

AICPA Code of Ethics, Exam questions and answers, rated A+ 1. Responsibilities 2. The Public Interest 3. Integrity 4. Objectivity and Independence 5. Due Care 6. Scope of Nature of Services - -Principles of AICPA Code of Ethics Carrying out responsibilities as professionals, members should exercise professional and moral judgments in all activities - -Responsibility Members - -perform an essential role in society -continuing responsibility to cooperate with each toher to imporve the...

AICPA Code of Professional Conduct, Questions and answers/ VERIFIED. Who has the authority to discipline California CPA's for failure to meet professional standards, regardless of whether those standards were ever enacted into law in California? The California State Board of Accountancy CA Accountancy Act Article 3.5 Section 5062 Report Conforming to Professional Standards Act A licensee shall issue a report which conforms to professional standards upon completion of a compilation re...

AICPA Ethics Code Exam Questions and answers. VERIFIED/ Which step in the decision-making model is characterized by asking the question, "Are these opinions consistent with applicable professional ethics rules, regulations, and laws?" A. Recognize ethical issues B. Gather critical facts C. Consider the effect on stakeholders D. Consider rules, regulations, and laws - -D. Consider rules, regulations, and laws Step 7 asks this question. You may determine that the greatest benefit and...

AICPA FINAL Exam Questions and answers, rated A+ What are the 10 steps in the ethical decision making model? - -Step One: Recognize the Ethical Issue Step Two: Gather the Critical Facts Step Three: Identify the Stakeholders Step Four: Consider Alternatives Step Five: Consider the Effect on Stakeholders Step Six: Consider Your Comfort Level Step Seven: Consider Rules, Regulations, and Laws Step Eight: Make a Decision Step Nine: Document your Efforts Step Ten: Evaluate the Outcome W...

AICPA Final Exam Questions and answers, VERIFIED/ 4 parts - -Ethical principles Rules of conduct Interpretations Ethical rulings Ethical principles - -Ideal standards of ethical conduct stated in philosophical terms: Responsibilities The public interest Integrity Objectivity and independence Due care Scope and nature of services Though not enforceable, the burden of proof on CPA for noncompliance rules of conduct (100-500) - -Minimum standards of ethical conduct stated as specific...