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Decks in this class (66)

Set 1 - AU Chapter 1 - Assurance Handbook and Regulatory Handbook
Who issues auditing standards in ...,
Which section of the handbook wou...,
Which section of the handbook dea...
9  cards
Set 1 - AU Chapter 2 - Fundamental Concepts
Are statutory audits voluntary 1,
Define agency risk how does this ...,
Define agency cost 3
6  cards
Set 1 - AU Chapter 3 - Client Acceptance
What four factors should be consi...,
Name 4 procedures auditors can un...,
What other factors must auditor c...
6  cards
Set 1 - AU Chapter 5 Materiality
What is step 1 when setting mater...,
What is step 2 when setting mater...,
In step 3 you determine the basis...
8  cards
Set 1 - AU Chapter 6 - Risk
Define audit risk 1,
What is the audit risk model 2,
Break down rmm into it s two comp...
10  cards
Set 1 - AU Chapter 7 - Fraud
When is the assessment of fraud r...,
What are the two types of fraud 2,
Name some conditions that create ...
7  cards
Set 1 - AU Chapter 8 - Going Concern
What is the going concern assumpt...,
What are some financial operating...,
What is management responsibility 3
6  cards
Set 1 - AU Chapter 9 - Approach
What are the two types of audit a...,
What does substantive approach in...,
When is the substantive approach ...
6  cards
Set 1 - FR - Chapter 5 - Inventories
What is included in inventory cost 1,
What are three costs included in ...,
What method of costing is require...
10  cards
Set 1 - FR Chapter 6 - PPE
What two criteria must be met for...,
What costs are capitalized 2,
Are sales taxes gst hst capitaliz...
20  cards
Set 1 - FR Chapter 10 - Impairment of Assets
When is an asset considered to be...,
Under ifrs name two times you tes...,
What is a cgu 3
13  cards
Set 1 - FR Chapter 13 - Revenue from Contracts with Customers
IFRS
24  cards
Set 2 - AU Chapter 4 Rules of Professional Conduct
What are the 5 cpa values 1,
Are contingent fees allowed 2,
Are auditors required to contact ...
5  cards
Set 2 - AU Chapter 10 Analytical Procedures
Analytical procedures are perform...,
Name the three types of analysis 2,
What are the first two steps of a...
4  cards
Set 2 - FR Chapter 3 Cash and Receivables
Is there any difference between a...,
Name 3 types of assets determined...,
Name 4 types of cash equivalents 3
15  cards
Set 2 - FR Chapter 4 Financial Instruments - Passive Investments
Define passive investments 1,
Under ifrs what are the three typ...,
When are these measured how are t...
29  cards
Set 2 - FR Chapter 15 Related Parties
Aspe first what is the issue with...,
Aspe first what are the two ways ...,
When rpt s are measured at carryi...
11  cards
Set 2 - FR Chapter 16 Government Assistance
All grants are recognized when tw...,
If conditions not yet met how is ...,
What are the two types of grants 3
14  cards
Set 3 - AU Chapter 11 System Concepts
What is the difference between da...,
What 5 components are typically f...,
What are the 4 layers in a pyrami...
4  cards
Set 3 - AU Chapter 13 Assertions
What are the balance sheet assert...,
What are the income statement ass...
2  cards
Set 3 - AU Chapter 14 Audit Evidence
When is audit evidence gathered p...,
Auditors must gather evidence tha...,
How is the auditor sure of the su...
8  cards
Set 3 - AU Chapter 15 Substantive Procedures
What are the two types of substan...,
Name 7 types of substantive proce...,
Formula for designing procedures 3
4  cards
Set 3 - FR Chapter 8 Leases
How are finance leases treated at...,
What is the date of commencement ...,
What costs are included in the in...
51  cards
Set 3 - FR Chapter 14 NMT
Aspe how are nmt s value 1,
If fair value of both asset given...,
If fair value of both asset given...
10  cards
Set 3 - FR Chapter 17 Disc Ops
Conditions under ifrs to qualify ...,
Further actions to be taken to en...,
Measurement of hfs 3
13  cards
Set 4 FR Chapter 9 Goodwill
Provide 5 examples of intangible ...,
3 criteria to define intangible a...,
It must also meet two other crite...
16  cards
Set 4 FR Chapter 12 Contigencies
Ifrs contingent liability vs prov...,
When is a contingent liability co...,
Three likelihoods under ifrs how ...
12  cards
Set 4 FR Chapter 18 Foreign Currency Transactions
Define functional currency 1,
How are transactions measured ini...,
What rate is used for interest pa...
10  cards
Set 4 FI 13 Purchase, Expansion or Sale of Business
What are some questions asked whe...,
What are some assets which may be...,
And some liabilities 3
18  cards
Set 4 FI 17 Valuations: Big Picture
Main reason for needing a valuati...,
Some other reasons 2,
Define fmv 3
14  cards
Set 4 FI 18 Valuations: Asset-Based Approaches
4 steps of a liquidation approach 1,
3 steps of a adjusted net asset a...,
How are intangible assets valued ...
7  cards
Set 4 FI 19 Valuations: Income-Based Approaches
8 steps of capitalized cash flow ...,
How to estimate ebitda 2,
What is used for capitalization r...
12  cards
Set 4 FI 20 Valuations: Tangible and Intangible Assets
Define value in use 1,
Define highest and best value 2,
Define liquidation value 3
14  cards
Set 5 FR 11 Decommissioning Provisions
3 criteria for recognizing decomi...,
Initial measurement how is it don...,
Subseq measurement 3
4  cards
Set 5 FR 23 Income Taxes
Entry for tax payable current year 1,
How is the income tax shown when ...,
What are some permanent differenc...
21  cards
Set 5 FR 25 Investments in Associates
Define joint control of a business 1,
How are investments measured if j...,
Define significant influence 3
15  cards
Set 6 FR 21 Employee Benefits
Define short term benefits how ar...,
When are profit sharing and other...,
Dc plans what expense is recogniz...
19  cards
Set 6 FR 22 Share-based payment
Share options initial measurement...,
Compenstion expense for share opt...,
Two reasons derecognition happens...
8  cards
Set 7 Hedge Accounting
List 4 eligible hedged items 1,
Two types of eligible hedging ins...,
3 criteria to be able to apply he...
20  cards
Set 7 FR 24 EPS
Two types of eps 1,
Formula for basic eps 2,
What is net earnings loss how do ...
20  cards
Set 7 FR 26 Business Combinations - Date of Acqusition
What are the two types of purchas...,
In which scenario is consolidatio...,
Define parent 3
19  cards
Set 7 FR 30 Changes in accounting
How are changes in estimates acco...,
Define change in estimate 2,
Disclosures required for change i...
13  cards
Set 7 FR 33 Events after reporting period
Define subsequent events 1,
First step materiality 2,
Define adjusting and non adjustin...
6  cards
Set 7 FR 34 MDA
6 objectives of mda 1,
5 elements of disclosure 2
2  cards
Set 8 FR 28 Joint Arrangements
Define joint arrangement 1,
Define joint control 2,
Two types of joint arrangements 3
12  cards
Set 8 FR 29 Foreign Ops
Define foreign operation 1,
Define presentation currency 2,
Primary criteria for determining ...
26  cards
Set 8 FR 37 Public Sector Accounting Standards
Typical users of government state...,
What are users looking to see 2,
Objectives of reporting 3
4  cards
Set 8 FR 36 NFP
What framework do nfp follow 1,
4 statements in nfp 2,
Two types of reporting 3
23  cards
Set 6 TX Business Income
Define business income 1,
What does the ita say about expen...,
Common add backs to net income 3
4  cards
Set 6 TX CCA
Do companies have to take cca 1,
When can cca be claimed on an ass...,
Formula to calculate cca 3
14  cards
Set 7 FR 27 Business Combinations - sub meas
What 4 statements are required po...,
First step is to amortize fv diff...,
Define current period amortization 3
8  cards
Set 4 TX Purchase and Sale of assets vs shares
Direct asset purchase for purchas...,
Direct asset purchase for purchas...,
Direct asset purchase for purchas...
19  cards
Set 5 TX Legal Forms and Structures
4 types of legal entities 1,
3 types of corporations 2,
Advantages of sp partnerships 3
6  cards
Set 6 TX Tax Admin
Individual filing deadlines 1,
Corp filing deadlines 2,
Individual balance due date 3
6  cards
Set 6 TX Liability for Tax
Determining residency primary fac...,
Determining residency secondary f...
2  cards
Set 6 Div C deductions - corp
Restriction on charitable donatio...,
Non capital loss income used agai...,
Net capital loss income used agai...
4  cards
Set 6 TX Employee vs Contractor
Main tests 6 1,
Tax implications of being employee 2,
Tax implications of being ind con...
3  cards
TX Set 6 Employment Income
Taxation year for an individual 1,
How is employment income taxed ex...,
Are allowances taxable exceptions 3
8  cards
Set 6 TX Property Income
What method of interest reporting...,
Interest reporting individuals 2,
Dividends corporations 3
9  cards
TX Set 6 Capital Gains
Factors to consider if an item is...,
Election for sale of securities 2,
How are superficial losses treate...
4  cards
TX Set 6 Other Income
What is included in other income 1,
Can pension income be split crite...,
Benefits of pension income splitt...
8  cards
TX Set 6 Other Deductions
Are cpp contributions deductible 1,
How much is the enhanced cpp cont...,
Is cpp paid for employed people d...
7  cards
TX Set 6 Deferred Income Plans
Penalty for over contributions to...,
Can you contribute to spousal rrs...,
When are rrsp s terminated 3
5  cards
TX Set 6 Lifetime Capital Gains Exemption
Who can get the lgce 1
1  cards
FI 4 Investing and Portfolio Diversification
Standard deviation of two returns...,
Positive correlation what does th...,
Negative correlation what does th...
16  cards
TX 8 HST
Define zero rated 1,
Define exempt 2
2  cards

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