1
Q
What are the balance sheet assertions and what happens during violations? CAS 315
A
Existence - over-stated Rights and obligations - over-stated Completeness - under-stated Accuracy, valuation and allocation - over/under-stated Classification - among BS only Presentation
2
Q
What are the income statement assertions and what happens when wrong? CAS 315
A
Occurrence - over-stated Completeness - understated Accuracy - over/under-stated Cut-off - over/under-stated Classification - among IS only Presentation
Core 1
flashcards
Decks in class (66)
# Cards
-
Set 1 - AU Chapter 1 - Assurance Handbook and Regulatory Handbook9
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Set 1 - AU Chapter 2 - Fundamental Concepts6
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Set 1 - AU Chapter 3 - Client Acceptance6
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Set 1 - AU Chapter 5 Materiality8
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Set 1 - AU Chapter 6 - Risk10
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Set 1 - AU Chapter 7 - Fraud7
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Set 1 - AU Chapter 8 - Going Concern6
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Set 1 - AU Chapter 9 - Approach6
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Set 1 - FR - Chapter 5 - Inventories10
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Set 1 - FR Chapter 6 - PPE20
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Set 1 - FR Chapter 10 - Impairment of Assets13
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Set 1 - FR Chapter 13 - Revenue from Contracts with Customers24
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Set 2 - AU Chapter 4 Rules of Professional Conduct5
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Set 2 - AU Chapter 10 Analytical Procedures4
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Set 2 - FR Chapter 3 Cash and Receivables15
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Set 2 - FR Chapter 4 Financial Instruments - Passive Investments29
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Set 2 - FR Chapter 15 Related Parties11
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Set 2 - FR Chapter 16 Government Assistance14
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Set 3 - AU Chapter 11 System Concepts4
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Set 3 - AU Chapter 13 Assertions2
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Set 3 - AU Chapter 14 Audit Evidence8
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Set 3 - AU Chapter 15 Substantive Procedures4
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Set 3 - FR Chapter 8 Leases51
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Set 3 - FR Chapter 14 NMT10
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Set 3 - FR Chapter 17 Disc Ops13
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Set 4 FR Chapter 9 Goodwill16
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Set 4 FR Chapter 12 Contigencies12
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Set 4 FR Chapter 18 Foreign Currency Transactions10
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Set 4 FI 13 Purchase, Expansion or Sale of Business18
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Set 4 FI 17 Valuations: Big Picture14
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Set 4 FI 18 Valuations: Asset-Based Approaches7
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Set 4 FI 19 Valuations: Income-Based Approaches12
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Set 4 FI 20 Valuations: Tangible and Intangible Assets14
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Set 5 FR 11 Decommissioning Provisions4
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Set 5 FR 23 Income Taxes21
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Set 5 FR 25 Investments in Associates15
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Set 6 FR 21 Employee Benefits19
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Set 6 FR 22 Share-based payment8
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Set 7 Hedge Accounting20
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Set 7 FR 24 EPS20
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Set 7 FR 26 Business Combinations - Date of Acqusition19
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Set 7 FR 30 Changes in accounting13
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Set 7 FR 33 Events after reporting period6
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Set 7 FR 34 MDA2
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Set 8 FR 28 Joint Arrangements12
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Set 8 FR 29 Foreign Ops26
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Set 8 FR 37 Public Sector Accounting Standards4
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Set 8 FR 36 NFP23
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Set 6 TX Business Income4
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Set 6 TX CCA14
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Set 7 FR 27 Business Combinations - sub meas8
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Set 4 TX Purchase and Sale of assets vs shares19
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Set 5 TX Legal Forms and Structures6
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Set 6 TX Tax Admin6
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Set 6 TX Liability for Tax2
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Set 6 Div C deductions - corp4
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Set 6 TX Employee vs Contractor3
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TX Set 6 Employment Income8
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Set 6 TX Property Income9
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TX Set 6 Capital Gains4
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TX Set 6 Other Income8
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TX Set 6 Other Deductions7
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TX Set 6 Deferred Income Plans5
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TX Set 6 Lifetime Capital Gains Exemption1
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FI 4 Investing and Portfolio Diversification16
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TX 8 HST2
