Accounting Commons^™

Proposed Statement On Auditing Standards : Interim Financial Information : (To Supersede Statement On Auditing Standards No. 71, Interim Financial Information;Interim Financial Information : (To Supersede Statement On Auditing Standards No. 71, Interim Financial Information; Exposure Draft (American Institute Of Certified Public Accountants), 2002, July 26, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

This proposed Statement on Auditing Standards (SAS) establishes standards and provides guidance to an accountant performing a review of interim financial information of: 1. A public entity, or 2. A nonpublic entity that makes a filing with a regulatory agency in preparation for a public offering or listing, and has had or is currently having its latest annual financial statements audited. The term interim financial information means financial information or statements covering a period less than a full year or for a 12-month period ending on a date other than the entity's fiscal year end. The term accountant, as used …

Understanding And Implementing Ssars No. 8; Aicpa Practice Aid Series;, J. Russell Madray, Leslye Givarz

Guides, Handbooks and Manuals

No abstract provided.

Guidance Relating To Reporting Financial Highlights By Separate Accounts., American Institute Of Certified Public Accountants. Accounting Standards Team)

Guides, Handbooks and Manuals

No abstract provided.

Preventing Fraudulent Financial Reporting, Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson

Faculty Articles

Provides information on a study conducted by the Committee of Sponsoring Organizations regarding the detection and prevention of financial fraud. Discussion on the nature of financial frauds; Characteristics of unreliable financial reporting; Views on the role of auditing firms in the prevention of fraud.

Aicpa Chairman Urges Sec Study Of New Reporting Model, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Aicpa, Information Technology Companies, And Five Largest Accounting And Professional Service Firms Join Forces In Developing Xml-Based Financial Reporting Language., American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Instructional Case: Worldwide Shipping Corporation Ltd: Early Or Late Adoption Of A New International Accounting Ssandard?, Pearl Tan, Peter Lee

Research Collection School Of Accountancy

The management of Worldwide Shipping Corp. Ltd. is confronted with a dilemma when a new international accounting standard on leases is introduced which contains a transitional provision allowing firms to defer implementation for a period of 4 years. Students are required to put themselves in the position of managers who have to weigh the adverse impact of early adoption of the new accounting standard against a responsibility for fair financial reporting. The case aims to provide students with a better understanding of the impact of off-balance sheet transactions on a firm's financial statements. The case requires students to examine implications …

Just Say 'No', Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson

Faculty Articles

The article discusses the prevention of financial fraud within corporations and businesses in the United States. The types of individuals named in the U.S. Securities and Exchange Commission (SEC) files are examined. Different fraud techniques are looked at, including sham sales, the recording of conditional sales, and unauthorized shipments. The author discusses the status of firms after fraud disclosure and the implications it has for finance professionals.

Survey On Electronically Published Financial Information, September 11, 1998, American Institute Of Certified Public Accountants. Auditing Standards Board

Association Sections, Divisions, Boards, Teams

No abstract provided.

Preparing And Reporting On Cash- And Tax-Basis Financial Statements, Michael J. Ramos, American Institute Of Certified Public Accountants. Accounting And Auditing Publications Team

Guides, Handbooks and Manuals

No abstract provided.

Users And Accounting Information Preferences Of Government Department Financial Reports, Helen R. Mignot

Theses: Doctorates and Masters

The introduction of an accounting standard requiring government departments to replace fund-type, cash-based accounting statements with business-type, accrual based accounting statements has led to criticism that business-type, general purpose financial statements do not take account of the information requirements of major users. Such criticism echoes a long standing debate in which the users of public sector financial statements and their informational requirements are analysed in competing models. One view suggests that there are many users with homogeneous informational needs, who can be classified into a few broad groups. The other view maintains that there are few users who have differential …

Whitaker Wright, Robert William Gibson, Glenn A. Vent

Accounting Historians Notebook

Fraud is a significant problem for contemporary businesses, but it is not a new problem. Business fraud was common during the 1890s. This paper examines several accounting issues that were central to Whitaker Wright's trial.

Preparing And Reporting On Cash- And Tax-Basis Financial Statements, Michael J. Ramos, Anita M. Lyons

Guides, Handbooks and Manuals

No abstract provided.

Compilation And Review Manual, Volume 2, O. Ray Whittington, Alan J. Winter

Guides, Handbooks and Manuals

No abstract provided.

The Information Content Of Withdrawn Audit Qualifications: New Evidence On The Value Of "Subject-To" Opinions, L. Paige Fields, Michael S. Wilkins

School of Business Faculty Research

Statement on Auditing Standards No. 58 (AICPA 1988) effectively eliminated the "subject-to" audit opinion which auditors used to highlight financial statement uncertainties. Elimination of the "subject-to" report implied the Auditing Standards Board's belief that the opinion conveyed no material information to users. Several market-based studies of the value of "subject-to" opinions have yielded mixed results. A major limitation in most of these studies was a lack of precision in identifying the exact date upon which information, if any, was revealed to the market.

This study extends the previous work by examining the common share price reactions to public announcements of …

Independent Accountant Involvement With Interim Financial Information, Carl R. Borgia

Woman C.P.A.

No abstract provided.

Process Of Accounting Innovation: The Publication Of Consolidated Accounts In Britain In 1910, John Richard Edwards

Accounting Historians Journal

The most recent effort at restating the auditor's standard report, SAS 58, is the most comprehensive statement of the auditor's role that has ever been adopted. It is an acknowledgment that the previous report had become an ineffective communication of the audit function and was perhaps too cautious in circumscribing the auditor's public responsibilities. This paper compares and analyzes the terminology of the standard report throughout the professions's history with particular emphasis on the recent years leading up to SAS 58. An exhibit compares the parallel terminology and the social, economic and political issues that resulted in each revision. Additionally, …

Proposed Statement On Auditing Standards : Review Of Or Performing Procedures On Interim Financial Information;Review Of Or Performing Procedures On Interim Financial Information; Exposure Draft (American Institute Of Certified Public Accountants), 1991, July 31, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

The Auditing Standards Board is issuing this proposed statement on auditing standards (SAS) to provide expanded guidance to accountants in performing reviews of, or procedures on, interim financial information. This proposed Statement: 1. Clarifies the knowledge of the entity's internal control structure that the accountant needs to obtain when the accountant is engaged to review interim financial information but has not audited the most recent annual financial statements. 2. Incorporates additional guidance on accounting estimates and performing analytical procedures in connection with a review of interim financial information. 3. Requires the accountant, in performing a review of interim financial information, …

Understanding Based Alternative To “Plain Paper Prohibitation”, Louis G. Gutberlet

Woman C.P.A.

No abstract provided.

Proposed Statement On Auditing Standards : Communication Of Matters About Interim Financial Information Filed Or To Be Filed With Specified Regulatory Agencies;Communication Of Matters About Interim Financial Information Filed Or To Be Filed With Specified Regulatory Agencies; Exposure Draft (American Institute Of Certified Public Accountants), 1990, June 15, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

Pursuant to the Securities Exchange Act of 1934, certain entities are required to file periodic interim financial information with the Securities and Exchange Commission or another specified regulatory agency. This interim financial information, which is available to the public, is not required to be timely reviewed by an independent auditor. These entities are also required to notify the appropriate regulatory agency about a change of auditor, which provides public information about the identity of the auditors of these entities' annual financial statements. In recognition of these unique filing requirements, this proposed Statement establishes requirements for communications to management and, in …

Financial Recordkeeping: Organizing Your Past To Plan Your Future, American Institute Of Certified Public Accountants. Communication Division

Guides, Handbooks and Manuals

No abstract provided.

What Else Can Financial Statements Tell You?, American Institute Of Certified Public Accountants;

Guides, Handbooks and Manuals

No abstract provided.

Compilation And Review; Technical Information For Practitioners Series, 3, Margaret Monaghan

Guides, Handbooks and Manuals

No abstract provided.

Consolidated Financial Statements: Understanding Their Theories, Diana R. Franz

Woman C.P.A.

No abstract provided.

Development Of Compilations And Reviews, Larry Joe Rankin

Accounting Historians Journal

The article reviews the significant events in the development of AICPA standards which led to the establishment of two types of CPA engagements on the financial statements of nonpublic businesses??pilations and reviews. As a part of this development, the article describes various CPA-user communication problems which resulted from unaudited financial statement engagements and limited procedure engagements.

Development Of Group Accounting In The United Kingdom To 1933, John Richard Edwards, K. M. Webb

Accounting Historians Journal

The publication of consolidated accounts is an early example of innovative financial reporting procedures being introduced by U.S. companies before they were adopted in the U.K., where Nobel Industries (1922) is generally cited as the first holding company to prepare economic entity based financial reports. This paper produces evidence which shows that the publication of consolidated accounts, by British companies, began at least as early as 1910. Our research nevertheless confirms the generally held view that U.S. developments occurred earlier, and we explore a range of possible explanations for this phenomenon.

Updated Illustrations Of Management's Discussion And Analysis Of Financial Condition And Results Of Operations : A Survey Of The Application Of Recently Amended Rules 14a-3 And14c-3 Of The Securities And Exchange Act Of 1934 In Annual Reports To Shareholders; Financial Report Survey, 26, Hortense Goodman, Leonard Lorensen

Newsletters

No abstract provided.

Proposed Statement On Standards For Accounting And Review Services : Computer-Prepared Interim Financial Statements;Computer-Prepared Interim Financial Statements; Exposure Draft (American Institute Of Certified Public Accountants), 1982, June 15, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Exposure Drafts, Comment Letters, and Statements of Position

This proposed Statement would grant the accountant an exemption from the SSARS 1 requirement to comply, as a minimum, with the standards for a compilation engagement when, in specified circumstances, he submits computer-prepared interim financial statements to his client or others. The draft would require the use of a legend on each page of the statements, stating that the computer-prepared interim financial statements do not purport to reflect all appropriate adjustments and disclosures required by generally accepted accounting principles (or another comprehensive basis of accounting) and that they were not compiled, reviewed, or audited by an independent accountant.

Position Paper: The Issuance Of Compilation Reports By Accountants: The Need For Public Regulation And Professional Oversight, American Institute Of Certified Public Accountants (Aicpa)

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Reporting On Compiled Financial Statements; Statement On Standards For Accounting And Review Services 5, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

AICPA Professional Standards

No abstract provided.