in the sense that a task that normally would take several entry level accounting clerks to perform can be accomplished by one accountant. The current technology has literally changed the way an accountant does their job. There is no longer a need for the old fashioned T accounts or hand written journal entries or even hand written ledgers. For example‚ in the past accountants used to do everything written‚ then if they had a computer system the data was then entered into the system. The process was
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main purposes: define responsibility of accounting professionals‚ educate the public to protect the accounting professional‚ and educate the public to protect the public. Responsibility The AICPA Code of Professional Conduct says that certified public accountants have responsibilities to everyone who use their professional services. Unless you are an accounting professional‚ it is highly unlikely that you know all of the rules and regulations that must be abided by when it comes to bookkeeping
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Management Accounting‚ Cdn. 6e (Horngren/Sundem/Stratton/Beaulieu) Chapter 1 Management Accounting and Management Decisions 1) Both internal managers and external parties use accounting information. Answer: TRUE Diff: 2 Type: TF Page Ref: 16 Objective: 8 2) Internal accounting reports must follow generally accepted accounting principles and account for assets at historical cost. Answer: FALSE Diff: 2 Type: TF Page Ref: 16 Objective: 8 3) Organizations that
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financial statements. Answers: 1. The American Institute of Certified Public Accountants is a professional organization responsible for developing professional accounting ethical values. The AICPA requires professional accountants to act responsibly when engaging in accounting services and reviewing sensitive financial information. Accountants should always exercise sound moral judgment in all accounting activities. Accountants have responsibility to provide clients with professional services
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Chapter 7: Case 7-25 – New Client Acceptance‚ Comprehensive Case: Mt. Hood Furniture‚ Inc. Company Background Information: Your employer‚ Reddy & Abel‚ LLP‚ Certified Public Accountants (who is registered with the PCAOB and audits public companies)‚ has been approached by a prospective client‚ Mt. Hood Furniture‚ Inc.‚ about your firm taking on their account. The firm has adopted procedures for the acceptance and retention of clients following the AICPA guidelines for quality control in an accounting
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type of attestation service performed by public accountants. A review service provides a moderate amount of assurance on the financial statements‚ and less evidence is necessary to support this level of assurance. A review is provided at a much lower cost and Public Companies are required by the Corporations Act to have their half year financial statements either audited or reviewed by the entity’s auditor. Other attestation services- Public accountants provide numerous other attestation services‚
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MY DREAMS After 10 years I am a successful and Certified Public Accountant and it was because of those people who inspired me to reach my dreams. One of those people is my family who always support me and always there for me in times of needs especially financially. My friends too supported me and gave me guidance and strength in times of problems. My high school English teacher as well who always said that “life is cruel” so we need to be wise in making decisions in life because we’ll
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Developing the Canadian CPA certification program was an immediate priority of the merged organization. By drawing on the best of existing programs‚ we are creating a certification program aimed at producing Canada’s pre-eminent professional accountants. The new program will: • • Be recognized as being at least as rigorous as all current programs. Require an undergraduate degree and specific subject area coverage for admission to the graduate-level CPA Professional Education Program (CPA PEP) being
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ethnicity‚ etc. as well as any other information about them that impacts the way you plan and present the speech (see the textbook‚ pp. 618–628). Topic: In this speech‚ I am going to describe why accountants have a bad reputation as being both boring and dishonest‚ and also expound on what accountants actually ‘do’ in our world/why we need them. Finally‚ I am going to explain how accounting‚ as a profession‚ can be used for the greater glory of God. Rhetorical Purpose: To inform my audience
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As for me I have different reasons why I want to have a better education. First reason is for career purpose. From my early age‚ my parents always tell that education is important to find a good job. And I know that it is true. To be a certified public accountant someday‚ I must have an education. Experience and all education that I will gain in this University will be my weapon to find a good career for myself. Another reason why I it is important for me to have an education it is simply because
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