Questions from General Accounting


Q: Andy Simmons is a CPA with his own accounting and tax practice

Andy Simmons is a CPA with his own accounting and tax practice. He occasionally does an audit for small business clients. One day an audit client shows Andy a letter from the local Property Tax Assess...

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Q: You’re struggling in your new accounting practice to tap into a potential

You’re struggling in your new accounting practice to tap into a potential client base. You have tried traditional advertising and marketing tools to no avail. Your friend tells you to use social media...

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Q: Your best friend is from another country. One day after a

Your best friend is from another country. One day after a particularly stimulating lecture on the meaning of ethics by your instructor, you and your friend disagree about whether culture plays a role...

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Q: You have decided to leave your CPA firm. Using the AICPA

You have decided to leave your CPA firm. Using the AICPA rules as a guide, answer the following questions: (1) Can you post some negative comments about your former employer on Twitter? (2) Can you...

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Q: You previously worked for the Department of Revenue, a governmental agency

You previously worked for the Department of Revenue, a governmental agency in your town. You cut all ties with the agency after you left two years ago to start your own tax accounting business. One da...

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Q: You were engaged to file the 2015 individual and corporate tax returns

You were engaged to file the 2015 individual and corporate tax returns for a client. The client provided her records and other tax information on March 1, 2016, to help prepare the 2015 tax return. Yo...

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Q: In January 2008, it was discovered that William Borchard, who

In January 2008, it was discovered that William Borchard, who handled due diligence for clients of PwC interested in mergers and acquisitions, divulged controversial plans to Gregory Raben, an auditor...

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Q: Assume that the CPA firm of Packers & Vikings audits Chi Bears

Assume that the CPA firm of Packers & Vikings audits Chi Bears Systems. The controller of Chi Bears, a CPA, happens to be a tax expert. During the current tax season, Packers & Vikings gets far behind...

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Q: Explain the threats to professional skepticism that might influence audit judgment.

Explain the threats to professional skepticism that might influence audit judgment.

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Q: Assume you are the senior in charge of the audit of a

Assume you are the senior in charge of the audit of a client in New York who offers you two tickets to the Super Bowl between the New York Giants and the Denver Broncos. The opportunity to see the Man...

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