Learn how to account for property dividends under US GAAP. This guide explains recognition timing, valuation at fair value, gain/loss treatment, and required journal entries.
Understand the 5-step model for revenue recognition under ASC 606. Master key concepts, journal entries, and practical examples relevant to the USCPA FAR exam.
Understand the logical process auditors follow to determine the appropriate audit opinion, including materiality and pervasiveness assessments. Includes flowchart explanation.
Understand the accounting treatment of cash and liquidation dividends under U.S. GAAP. Learn the key differences and journal entries with USCPA-style practice questions.
Understand when and how an auditor issues an Qualified opinion or Adverse opinion under US GAAS and PCAOB standards. Covers emphasis-of-matter, other-matter, and explanatory paragraphs, with key examples and practice questions.
Understand when a qualified or disclaimer of opinion is issued under US GAAS. Compare causes based on GAAP departures versus GAAS scope limitations. Includes key concepts and examples.
Master the accounting treatment of treasury stock under the cost method, including its effects on shareholders' equity and key journal entries. Practice questions included.
Learn how treasury stock is recorded, its impact on equity, and master the cost method and related journal entries. Includes practice questions.
Understand how to account for stock dividends, differentiate between small and large stock dividends, and master key journal entries and exam points. Includes practice questions.
Comprehensive overview of Basic and Diluted EPS calculation, disclosure requirements, and common exam-tested scenarios for the USCPA FAR section. Includes practice questions.
Learn the importance of professional skepticism and judgment in auditing, how they differ, and their application under GAAS. Includes exam-style practice questions for the AUD section.
Learn how discontinued operations are reported in the income statement under U.S. GAAP and how they impact EPS calculations using the treasury stock method.
Understand the primary objective of an audit, responsibilities of management and auditors, and inherent limitations of the audit process. Includes practice questions for exam preparation.