Title Details

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