which the CPA was simply involved with the company’s tax returns‚ the CPA does not have any responsibility to pursue the matter as the CPA was not auditing the client. However‚ the cash shortages should have been brought to the owner’s attention as soon as they were noticed. A working relationship between an entity and the CPA is one of mutual trust and there would have been no harm in informing the owners that cash shortages were occurring. In the second circumstance‚ in which the CPA was responsible
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If to use a single word describing myself‚ I would say‚ “integrity”‚ which means a mixture of various qualities and views from different cultures and working experiences. My hometown‚ **‚ which was a harbor and now the booming coastal metropolis‚ brought me a grant view of how fast the speed of globalization is. Meanwhile‚ the dramatic economic growth of the city enlightened me for seeking and digging qualities that would match its future. As a result‚ I went to the other hemisphere of the world
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References: "Are You a YOUtility? How Smart Accountants Are Helping‚ Not Selling." CPA Practice Advisor May 2014. General OneFile. Web. 13 May 2014. http://go.galegroup.com/ps/i.do?id=GALE%7CA365074863&v=2.1&u=fl_duvalcps&it= r&p=GPS&sw=w&asid=2b980d1088eedd6bd0f8d071d5baf6ed Stimpson‚ Jeff. "Teaching to Tech Partners; Firms are closing
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This paper is an analysis of Acme Incorporated accounting practices on deferred income taxes and the discrepancies between tax and book depreciation methods found by the Certified Public Accountant (CPA)‚ Stephanie Delaney‚ the new director of corporate taxation. As a result of such discrepancies‚ Acme realizes large deferred tax liability‚ thus reducing the income taxes paid. In addition‚ Ms. Delaney found out about the policy of selling plant assets before they would reverse in the deferred tax
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to suppliers or their subsidiaries as operating cash (out) flows. Sample Case 2: In year 1‚ Joe Josephs‚ CPA‚ reviewed Lander Company’s financial statements. However‚ in year 2‚ the Lander Company hired Tom Holstrum‚ CPA‚ to audit its financial statements. Should Tom meet with Joe‚ and would Joe be considered as a predecessor auditor? Sample Case 2 Solution: Problem Identification: Is a CPA who reviewed prior period financial statements considered as a predecessor auditor? Keywords: Review‚ predecessor
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firms‚ regional firms‚ national firms‚ and international firms. Explain briefly the characteristics of each. Include in your answer the types of services stressed in each group. Local firms typically have one or two offices‚ include only one CPA or a few CPAs as partners‚ and serve clients in a single city or area. These firms often emphasize income tax‚ consulting‚ and accounting services. Auditing is usually only a small part of the practice and tends to involve small business concerns that find
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Rule 301 of the American Institute of Certified Public Accountants’ professional standards states that a member CPA “shall not disclose any confidential client information without the specific consent of the client.” Auditing documentation should not be made available to outside parties without the authorizing of the client. Although the protection of a client’s information is an important principle of being professional‚ the member need to release the information under certain circumstance. Here
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that these failures share one common attribute: a failure to account for distance. As Ghemawat describes it‚ companies erroneously utilize an antiquated and incorrect modality when deciding on foreign expansion: the country portfolio analysis (CPA). The CPA focuses on national GDP‚ levels of consumer wealth‚ and people’s propensity to consume but ignores “the costs and risks of doing business in the market.” These costs are grouped into a category classified as “distance” which itself is sub-divided
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http://www.accountingweb.com/topic/cfo/survey-shows-accountants-are-most-trusted-advisers‚ September 2 6‚ 2006) Accountants are viewed competent‚ free of bias‚ and responsible. These make them trustful. (“CPA as trusted advisor: Why? And is it deserved?”. http://www.accountingweb.com/topic/accounting-auditing/cpa-trusted-advisor-why-and-it-deserved‚ October 15‚ 2010) Based on the Bureau of Labor and Statistics‚ almost all accountants do their job 40 hours per week‚ because they are deadline- oriented people
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(Mintz & Morris‚ 2011). The AICPA code holds CPA’s to a standard of honesty a form of integrity that the CPA will not have a personal gain from the service they are providing (Mintz & Morris‚ 2011). The AICPA principles include responsibility‚ public interest‚ integrity‚ objectivity and independence‚ due care‚ and scope and nature of services (Mintz & Morris‚ 2011). The principles enable CPAs to fill the obligations to the public (Mintz & Morris‚ 2011). The code protects the public through the due
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