Today's World of Audits
by Larry Perry, CPA, CPA Firm Support Services, LLC - Larry has over 40 years experience as a CPA practitioner, author of accounting and auditing manuals, author and presenter of live staff training seminars and author of webcast and self-study CPE programs. He is co-founder of CPA Firm Support Services, LLC (www.cpafirmsupport.com), an organization providing resources, training and consulting to smaller CPA firms. Larry writes a weekly blog on AccountingWEB.com focusing on small audits, reviews and compilations. He is currently developing documentation manuals and handbooks for small audits, reviews and compilations and related electronic practice aids.
Latest posts
May
16
The Auditing Standards Board’s Clarified Auditing Standards define a fair presentation framework. To paraphrase, such a framework includes all disclosure necessary to enable users to understand an entity’s financial posit
May
07
Measurement is the process of assigning amounts to items recognized in the financial statements. Financial statements are primarily based on the historical cost of transactions and events recognized in financial statements.
Apr
25
The AICPA’s FRF for SMEs exposure document contains documentation beginning with basic descriptions of financial statements and their contents, recognition criteria and measurement principles. In this second blog in a series fo
Apr
17
On November 1, 2012, the AICPA issued an Exposure Draft entitled Proposed Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs). Following are some of the features of this framework:
Apr
03
Mar
22
THE EFFECTS OF READING THE GENERAL LEDGER ON PAYROLL AND OTHER EXPENSES
Mar
11
Key controls may be performed at both the entity level and the activity level. Entity level controls are the most effective in preventing errors or fraud from occurring and going undetected. For smaller entities, key controls a
Feb
20
Recognizing that risk assessment procedures and analytical procedures are being performed for revenues, and that cash and accounts receivable tests of balances contribute evidence to evaluating financial statement assertions for revenues,
Feb
15
UNDERSTANDING KEY CONTROLS
Jan
25
Sales and Collection Cycle Flowchart
