COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
4th Edition
ISBN: 9781260255157
Author: Haddock
Publisher: MCG CUSTOM
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Chapter 1, Problem 1.5SRE
To determine
Identify the requirement to become a CPA.
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List four circumstances where a CPA licensee from another state would require approval from the California board of Accountancy before practicing public accounting in California. In cases where prior approval is not necessary, what are the requirements for the out of state licensee to practice public accounting. Express your opinions on these requirements.
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Which section of the regulations require a CPA to comply with Generally Accepted Accounting Principles and Generally Accepted Auditing Standards? If compliance is required by other organizations (PCAOB, AICPA, etc.) why do you think this requirement is also included in the regulations?
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What is the most important written document/s in CPA (Certified Public Accountant) Profession? Why?
By joining the AICPA, members must adhere to six major principles of Professional conduct. Discuss the six principles and how they might relate to your actions in the accounting profession?
Chapter 1 Solutions
COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
Ch. 1 - What are the names of three accounting job...Ch. 1 - Prob. 1.2SRQCh. 1 - What are financial statements?Ch. 1 - Prob. 1.4SRECh. 1 - Prob. 1.5SRECh. 1 - As the owner of a small business, you have decided...Ch. 1 - Prob. 2.1SRQCh. 1 - Prob. 2.2SRQCh. 1 - Prob. 2.3SRQCh. 1 - Prob. 2.4SRE
Ch. 1 - Prob. 2.5SRECh. 1 - Prob. 2.6SRECh. 1 - What is the purpose of accounting?Ch. 1 - What does the accounting process involve?Ch. 1 - Prob. 3CSRCh. 1 - Prob. 4CSRCh. 1 - Prob. 5CSRCh. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - What is tax planning?Ch. 1 - Prob. 6DQCh. 1 - What are the three major areas of accounting?Ch. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - Prob. 10DQCh. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - Which Type of Business Entity? Since graduating...Ch. 1 - Prob. 1MFCh. 1 - Prob. 2MFCh. 1 - Prob. 3MFCh. 1 - Prob. 4MFCh. 1 - Prob. 5MFCh. 1 - Prob. 6MFCh. 1 - Prob. 7MFCh. 1 - Prob. 8MFCh. 1 - Prob. 1EDCh. 1 - Prob. 1IC
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- A Certified Management AccountantA. is licensed by a state to perform management accounting functions for business and not-for-profit organizations.B. has passed a standardized examination and has certain experience requirements.C. performs the same functions as a CPA but of the internal audit staff of a business.D. both a and b are correct.arrow_forwardCASE (A): A group of recent passers of the licensure examination for Certified Public Accountants are registering for the Philippine Institute of Certified Public Accountants (PICPA). The registration officer asks each of them which sub-organization under the umbrella of PICPA they would also like to be registered to. The registration officer provided them with the following choices: A. Association of Certified Public Accountants in Public Practice (ACPAPP) B. Association of Certified Public Accountants in Commerce and Industry (ACPACI) C. Government Association of Certified Public Accountants (GACPA) D. National Association of Certified Public Accountants in Education (NACPAE) For each of the certified public accountants listed below, determine which organization they would fit into considering their job profile. ____________1. Joseph is hired as an internal auditor for a fastmoving consumer goods manufacturer. ____________2. Laurence works for an auditing firm engaged in providing…arrow_forwardWhich of the following is typically required for entry-level positions in the accounting profession? A. bachelors degree B. masters degree C. Certified Public Accountant (CPA) D. Certified Management Accountant (CMA) E. only a high school diplomaarrow_forward
- Which of the following is typically required for entry-level positions in the accounting profession? bachelor’s degree master’s degree Certified Public Accountant (CPA) Certified Management Accountant (CMA) only a high school diplomaarrow_forwardWho is responsible for assessing the accountant's competence? A The American Institute of Certified Public Accountants (AICPA)B Each state's accountancy board.C The accountantD The accountant's clientarrow_forwardThe fundamental ethical principles that all chartered accountants and registered auditors shouldcomply with are laid down by the SAICA and IRBA code of professional conduct. You are requiredto identify and provide a brief explanation for each of the fundamental ethical principles.arrow_forward
- Which of the following is typically required for entry-level positions in the accounting profession?arrow_forwardWhat must an accountant have under the AICPA Code of Professional Conduct?arrow_forwardIdentify the relevance of “Professional Competence and Due Care” with one of the following options. a. Duty of Auditor b. Powers of auditor c. Code of Ethics for professional accountants d. Role of Regulatory and professional bodiesarrow_forward
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