Die Schulungsunterlagen sind den echten Prüfungen ähnlich. Durch die kurze Sonderausbildung können Sie schnell die Fachkenntnisse beherrschen und sich gut auf die Prüfung vorbereiten. Wir versprechen, dass wir alles tun würden, um Ihnen beim Bestehen der AICPA FAR Probesfragen Zertifizierungsprüfung helfen. Benutzen Sie ruhig unsere Schulungsunterlagen zur AICPA FAR Probesfragen-Prüfung von Omgzlook. Sie können sich ganz gut auf Ihre Prüfung vorbereiten. Sonst erstatteten wir Ihnen die gesammte Summe zurück.
AICPA Certification FAR Omgzlook ist vertrauenswüdig!
Wir versprechen, dass Sie die Prüfung zum ersten Mal mit unseren Schulungsunterlagen zur AICPA FAR - CPA Financial Accounting and Reporting Probesfragen Zertifizierungsprüfung bestehen können. Die AICPA FAR Prüfungs-Guide Prüfung scheit nur ein kleinem Test zu sein, aber der Vorteil der Prüfungszertifizierung der AICPA FAR Prüfungs-Guide für Ihr Arbeitsleben darf nicht übersehen werden. Diese internationale Zertifikat beweist Ihre ausgezeichnete IT-Fähigkeit.
In den letzten Jahren hat die AICPA FAR Probesfragen Zertifizierungsprüfung großen Einfluß aufs Alltagsleben genommen. Aber die Kernfrage ist, wie man die AICPA FAR Probesfragen Zertifizierungsprüfung nur einmal ganz einfach bestehen. Die Antwort ist, dass Sie die Schulungsunterlagen zur AICPA FAR Probesfragen Zertifizierungsprüfung von Omgzlook benutzen sollen.
AICPA FAR Probesfragen - Aber das ist doch niemals passiert.
Während andere Leute noch überall die Prüfungsunterlagen für AICPA FAR Probesfragen suchen, üben Sie schon verschiedene Prüfungsaufgaben. Sie können im Vorbereitungsphase schon ganz vorne liegen. Wir Omgzlook bieten Ihnen AICPA FAR Probesfragen Prüfungsunterlagen mit reichliche Ressourcen. Sie dürfen auch die ganz realistische Prüfungsumwelt der AICPA FAR Probesfragen Prüfung damit erfahren.
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FAR PDF DEMO:
QUESTION NO: 1
On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with
Quo's president and outside accountants, made changes in accounting policies, corrected several errors
dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List A represents possible clarifications of these transactions as: a change in accounting principle, a change in accounting estimate, a correction of an error in previously presented financial statements, or neither an accounting change nor an accounting
error.
Item to Be Answered
Quo sells extended service contracts on its products. Because related services are performed over several years, in 1993 Quo changed from the cash method to the accrual method of recognizing income
from these service contracts.
List A (Select one)
A. Change in accounting principal.
B. Change in accounting estimate.
C. Correction of an error in previously presented financial statements.
D. Neither an accounting change nor an accounting error.
Answer: C
Explanation:
Choice "c" is correct. Change from the cash method to the accrual method is a correction of an error in
previously presented financial statements.
QUESTION NO: 2
Financial reporting by a development stage enterprise differs from financial reporting for an established
operating enterprise in regard to footnote disclosures:
A. Only.
B. And expense recognition principles only.
C. And revenue recognition principles only.
D. And revenue and expense recognition principles.
Answer: A
Explanation:
Choice "a" is correct. Financial reporting by a development stage enterprise differs from financial reporting for an established operating enterprise in regard to (more extensive) footnote disclosures only.
Choices "b", "c", and "d" are incorrect. Revenue and expense recognition principles are the same.
Rule:
Development stage enterprises should present financial statements in accordance with GAAP and make
additional disclosures such as: cumulative net losses, cumulative deficit (as part of equity), cumulative
sales and expenses (as part of the income statement), cumulative statement of cash flows and supplementary "shareholders equity."
QUESTION NO: 3
On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with
Quo's president and outside accountants, made changes in accounting policies, corrected several errors
dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List A represents possible clarifications of these transactions as: a change in accounting principle, a change in accounting estimate, a correction of an error in previously presented financial statements, or neither an accounting change nor an accounting
error.
Item to Be Answered
As a result of a production breakthrough, Quo determined that manufacturing equipment previously depreciated over 15 years should be depreciated over 20 years.
List A (Select one)
A. Change in accounting principal.
B. Change in accounting estimate.
C. Correction of an error in previously presented financial statements.
D. Neither an accounting change nor an accounting error.
Answer: B
Explanation:
Choice "b" is correct. Change in lives of fixed assets is a change in accounting estimate.
QUESTION NO: 4
The summary of significant accounting policies should disclose the:
A. Maturity dates of noncurrent debts.
B. Terms for convertible debt to be exchanged for common stock.
C. Concentration of credit risk of all financial instruments by geographical region.
D. Criteria for determining which investments are treated as cash equivalents.
Answer: D
Explanation:
Choice "d" is correct. The criteria for determining which investments are treated as cash equivalents would be part of the summary of significant accounting policies. Choice "a" is incorrect. The maturity dates of noncurrent debts are required disclosures, but are not a part of the summary of significant accounting policies. Choice "b" is incorrect. The terms for convertible debt to be exchanged for common
stock are not accounting policies; they would be disclosed separately. Choice "c" is incorrect. The concentration of credit risk of all financial instruments by geographic region may be a required segment
disclosure, especially for financial institutions. However, it would not be a part of the summary of significant accounting policies.
QUESTION NO: 5
Rock Co.'s financial statements had the following balances at December 31:
What amount should Rock report as comprehensive income for the year ended December 31?
A. $400,000
B. $420,000
C. $520,000
D. $570,000
Answer: C
Explanation:
Choice "c" is correct. Comprehensive Income includes all items included in "Net Income" plus "Other
Comprehensive Income" items. Since the $50,000 extraordinary gain is already included in Net
Income,
Comprehensive Income is:
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Updated: May 26, 2022