Looze CPA Memo To: Ken and Tina Close From: Gena Schwegel-Looze cc: Joetta Malone Acc/ 547 Taxation Date: March 24‚ 2014 Re: Week 1 Individual Assignment: Memo to Client In this memo one will include a summary of the facts‚ including the names‚ ages‚ educational background‚ and income status for Mr. and Mrs. Close and their two dependents. Looze CPA will also discuss two of the Close’s goals and concerns. This memo will also summarize the findings and key elements of the personal
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References: American Institute of CPAs. (2011). About the AICPA. Retrieved from http://www.aicpa.org/About/Pages/About.aspx American Institute of CPAs. (2011). Auditing Standards Board. Retrieved from http://www.aicpa.org/Research/Standards/AuditAttest/ASB/Pages/AuditingStandardsBoard.aspx Arens‚ A.‚ Beasley‚ M. & Elder‚ R. (2010). Auditing
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Chapter 4 Legal Liability for auditors 4-1. Understand litigious environment‚ which CPAs practice According to Google dictionary‚ litigious environment means a controversial environment. Where a simple mishaps can end up in a heavy lawsuit. Under common law‚ audit professionals have the responsibility to their client to fulfill their agreed on contracts. However‚ if one audit fails to fulfill their contract‚ not only they have to take responsibility to their clients but in some circumstances
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Creve Couer Pizza‚ Inc. In this case the ethical aspects primarily involved the American Institute of Certified Public Accountants (AICPA) as James Checksfield was serving as Creve Couer’s CPA. However‚ the professional standards set for accountants by the Institute of Management Accountants (IMA) and the AICPA share close similarities. Both organizations emphasize that accountants follow a code of ethics when performing their duties. The members must use these ethical principles when engaging in
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confidence in the accounting profession is the primary focus of the SOX legislation. The SEC labored long and hard to communicate to the media‚ the public and to CPAs (Certified Public Accountant) that it will not tolerate any substandard work that veers away from the fundamental code of ethics and responsibilities that have defined the CPA profession for more than 100 years. Their profession’s core values have always
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interest. I learned what my strong and weak competencies are and I became familiar with my Ethical Lens -- Rights and Responsibilities. I also realized that my desire to gain my Bachelor’s in accounting and to become a Certified Public Accountant (CPA) in the next five years was in fact‚ stemming from these things I was not aware about myself. It became a puzzle and the first piece was figuring out how my goal would flourish by understanding my career interest and competencies. The results to both
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with Arnold Anderson‚ CPA (lead auditor); Darlene Wardlaw‚ CPA (engagement manager) and me last week. During our meeting‚ you and your team informed us that your “old auditors‚ Smith & Smith‚ CPAs‚ unexpectedly withdrew from the engagement” (University of Phoenix eCampus‚ ACC/546‚ Apollo Shoes Casebook). Anderson‚ Olds‚ and Watershed (AOW)‚ CPAs appreciated the opportunity to conduct your upcoming audit. For the past 15 years‚ AOW has done successful audits for clients. Our CPAs are highly educated
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AICPA Code of Professional Conduct The American Institute of Certified Public Accountants (AICPA) is a group of CPAs that span across the globe. Its members are all volunteers and consist of over 350‚000 people. Most of their debates and discussions are how accountants should handle certain professional issues. There are six principles within the AICPA code of professional conduct; responsibilities; public interest; integrity; objectivity and independence; due care; and scope and nature of services
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RETENTION POLICY To raise the University’s academic standards‚ the University Academic Council has deemed it necessary to provide for each college a minimum Grade Point Average (GPA) which students must maintain. GUIDELINES FOR SCHOLASTIC DELINQUENCY I. Warning A student who‚ in any given semester‚ obtains failing grades or a mark of “D” in 25 percent (25%) to 49 percent (49%) of the total number of academic units enrolled in‚ shall be warned by the Dean to improve his grades and shall
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1. Assuming the fixed costs are borne by the Turner Test Prep Company on an annual basis regardless of the fact that CPA exam preparatory sessions are held only two times a year‚ the detailed costs expenses can be categorized into fixed and variable costs as follows: For the break even analysis‚ the business operation should generate just enough revenue to cover the operating expenses (without any loss or profits). The case states $1‚100 per student as the fee schedule. In this case‚ breakeven
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