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Cpas' Perceptions Of The Impact Of Sas 99, Donald C. Marczewski, Michael D. Akers
Cpas' Perceptions Of The Impact Of Sas 99, Donald C. Marczewski, Michael D. Akers
Accounting Faculty Research and Publications
In November 2002, the Auditing Standards Board (ASB) issued Statement on Auditing Standard 99, Consideration of Fraud in a Financial Statement Audit. Although SAS 99 was developed before the recent accounting scandals, its release came in their wake. The ASB crafted SAS 99 in response to perceived inadequacies in its predecessor, SAS 82. A questionnaire was sent to a random sample of 300 Wisconsin CPAs selected from the membership of the Wisconsin Institute of CPAs, which included 150 partners and 150 managers from Wisconsin public accounting firms. The response rate was 35%, with an almost equal balance of partners and …
New Accounting Rules For Special Assessments, James Trebby, Robert Yahr
New Accounting Rules For Special Assessments, James Trebby, Robert Yahr
Accounting Faculty Research and Publications
In 1979, the National Council on Governmental Accounting's Statement One eliminated several inconsistencies in governmental accounting. However, accounting for special assessments was never fully resolved. After several revisions, the Governmental Accounting Standards Board (GASB) issued Statement 6 in January 1987. Assessments typically are divided into those providing capital improvements and those providing services. The new accounting and financial reporting requirements include: 1. special assessments for operating services provided to the public, 2. accounting for debt service for which no government has an obligation in an agency fund, and 3. reporting a direct capital expenditure or a transfer to a capital …