CPA-Auditing, CPA Auditing and Attestation exam will give you the right learning objectives which will help you in your career for the auditing and attestation which is a very important knowledgeable area in any organizations specially bigger ones. The professionals have be very careful in performing this exam because the validation process can only be completed when you are equipped with greater knowledge of the exam topics and have some level of experience which will prove to be very useful.
CPA-Auditing, CPA Auditing and Attestation exam topics like any exam are segmented hence we have listed some main topics for your convenience.
Elements of financial statements and their recognition criteria consists of elements of financial statements, elements of financial statements, financial statements where these elements are recognized, criteria for recognition of the elements of the financial statements which are asset, liability, equity, income and expense.
Theories of accounting and alternative methods of valuation includes the learning of disadvantages of the historical cost system of accounting, amounts using the following measurement bases which consists of the learning of historical cost, fair value, deprival value, replacement cost, net realizable value, positive accounting theory, normative accounting theory, operating capital maintenance theories and how these can affect calculated profits, financial capital maintenance and operating capital maintenance theories as alternatives to historical cost and identify the impact on reported profits, financial capital maintenance and operating capital maintenance theories.
Statement of financial position constitutes of IAS 1 for disclosures in a statement of profit or loss and other equity; statement of financial position, guidelines for the selection of accounting policies and the disclosures required about changes in accounting policies, IAS 12 Income taxes and prepare associated journal entries.
The topic for CPA-Auditing, CPA Auditing and Attestation of Statement of cash flows consists of usefulness of the statements of cash flow, the definition of cash and cash equivalents, differences between operating, investing and financing activities, statement of cash flow using the direct and indirect method and disclosure requirements of IAS 7.
The professionals after completing the CPA-Auditing, CPA Auditing and Attestation exam are able to apply the tools of financial statement analysis, calculate ratios analyzing an entity’s liquidity, profitability and solvency, Explain ratio interrelationships, interpret a set of financial statements using ratio, Explain the limitations of financial statement analysis, Discuss the forms of business combinations, Explain how goodwill is measured and disclosed at date of acquisition, Explain the concept of control and how the existence of control is determined, prepare consolidation worksheet entries where a parent has an ownership interest in a subsidiary, why transactions within a group must be eliminated, when profit from transactions, consolidation worksheet entries, the concept of non-controlling interest, Explain the underlying methodology of the equity method, Calculate the investor’s share in an investee and explain why this concept is important, Prepare journal entries to account for the initial application of the entries to record investee results and dividends, account for foreign currency transactions at transaction date and subsequent dates and Outline the disclosure requirements of IAS 21 well.