Wiley CPA Examination Review

Preface ix About the Authors xi About the Contributors xi How To Use This Book 1 AUDITING AND ATTESTATION Module 1: Professional Responsibilities 9 Module 2: Engagement Planning, Obtaining an Understanding of the Client and Assessing Risks 26 Module 3: Understanding Internal Control and Assessing Control Risk 71 Module 4: Responding to Risk Assessment: Evidence Accumulation and Evaluation 115 Module 5: Reporting 167 Module 6: Accounting and Review Services 206 Module 7: Audit Sampling 219 Module 8: Auditing with Technology 235 FINANCIAL ACCOUNTING AND REPORTING Module 9: Basic Theory and Financial Reporting 249 Module 10: Inventory 346 Module 11: Fixed Assets 376 Module 12: Monetary Current Assets and Current Liabilities 407 Module 13: Present Value 444 Module 14: Deferred Taxes 516 Module 15: Stockholders' Equity 536 Module 16: Investments 570 Module 17: Statement of Cash Flows 598 Module 18: Business Combinations and Consolidations 618 Module 19: Derivative Instruments and Hedging Activities 645 Module 20: Miscellaneous 664 Module 21: Governmental (State and Local) Accounting 703 Module 22: Not-for-Profit Accounting 729 REGULATION PROFESSIONAL RESPONSIBILITIES AND BUSINESS LAW 749 Module 23: Professional and Legal Responsibilities 751 Module 24: Federal Securities Acts 770 Module 25: Business Structure 784 Module 26: Contracts 803 Module 27: Sales 821 Module 28: Commercial Paper 837 Module 29: Secured Transactions 855 Module 30: Bankruptcy 864 Module 31: Debtor-Creditor Relationships 875 Module 32: Agency 883 Module 33: Regulation of Business Employment, Environment, and Antitrust 891 Module 34: Property 902 FEDERAL TAXATION 915 Module 35: Individual Taxation 917 Module 36: Transactions in Property 989 Module 37: Partnerships Taxation 1010 Module 38: Corporate Taxation 1038 Module 39: Other Taxation Topics 1095 BUSINESS ENVIRONMENT AND CONCEPTS Module 40: Corporate Governance, Internal Control, and Enterprise Risk Management 1121 Module 41: Information Technology 1133 Module 42: Economics, Strategy, and Globalization 1162 Module 43: Financial Risk Management and Capital Budgeting 1184 Module 44: Financial Management 1202 Module 45: Performance Measures 1228 Module 46: Cost Measurement 1241 Module 47: Planning, Control, and Analysis 1256 APPENDICES Appendix A: Sample Examinations 1281 Auditing and Attestation 1281 Financial Accounting and Reporting 1307 Regulation 1338 Business Environment and Concepts 1362 Appendix B: Sample Testlet Released by the AICPA 1377 Auditing and Attestation 1377 Financial Accounting and Reporting 1384 Regulation 1392 Business Environment and Concepts 1399 Appendix C: 2012 Released AICPA Questions 1401 Auditing and Attestation 1401 Financial Accounting and Reporting 1420 Regulation 1440 Business Environment and Concepts 1456