Content by Larry Perry CPA

on 12/11/14
This is the first article in a new series focusing on the Clarified Auditing Standards issued by the Auditing Standards Board (ASB) of the AICPA. The first 39 standards were issued in SAS No. 122;...
on 11/24/14
Read more from Larry Perry here and in the Today's World of Audits archive.This final article in this series focuses on the effects of analytical procedures and tests of balances...
on 11/17/14
Read more from Larry Perry here and in the Today's World of Audits archiveThis part covers the effects of key controls on payroll and other expenses, and the focus is on understanding...
on 10/29/14
Read more from Larry Perry here and in the Today's World of Audits archive.This article discusses basic accounting principles for operating expenses under the FRF for SMEs. Part 2 will...
on 10/21/14
Read more from Larry Perry here and in the Today's World of Audits archive.The first part discussed the principles of revenue recognition under the FRF for SMEs. This part will focus on...
on 10/16/14
Read more from Larry Perry here and in the Today's World of Audits archive.Because of the importance of revenue recognition auditing procedures, and because of the breadth of the...
on 10/09/14
Read more from Larry Perry here and in the Today's World of Audits archive.When an entity redeems or acquires shares of its own stock, the transactions are usually recorded as capital...
on 10/01/14
Read more from Larry Perry here and in the Today's World of Audits archive.Accounting PrinciplesAccounts Payable and Accrued Expenses: The AICPA's ...
on 09/24/14
Read more from Larry Perry here and in the Today's World of Audits archive.Auditors are required to evaluate the appropriateness and reasonableness of an entity's applicable...
on 09/17/14
Read more from Larry Perry here and in the Today's World of Audits archive.In my last article, I summarized major differences between principles in U.S. GAAP and the Financial Reporting...
on 09/09/14
Read more from Larry Perry here and in the Today's World of Audits archive.Auditing investments requires understanding applicable standards in the reporting framework selected by...
on 09/02/14
Read more from Larry Perry here and in the Today's World of Audits archive.As RMM (the combination of inherent and control risk) increases, more and better evidence is needed to evaluate...
on 08/27/14
Read more from Larry Perry here and in the Today's World of Audits archive.Since the AICPA's Financial Reporting Framework for Small- to Medium-sized Entities (FRF for SMEs) and some...
on 08/19/14
Read more from Larry Perry here and in the Today's World of Audits archive.In my previous article, I discussed auditing standards and the impact of the assessed level of risk of material...
on 08/14/14
Read more from Larry Perry here and in the Today's World of Audits archive.Special purpose frameworks normally include the cash or modified cash basis, income tax basis, statutory or...
on 08/06/14
Read more from Larry Perry here and in the Today's World of Audits archive.In my last article, I outlined the basic accounting standards for cash with reference to requirements from U.S...
on 07/30/14
Read more from Larry Perry here and in the Today's World of Audits archive.Learning "how" to audit cash is mainly learning "when" to audit cash and to "what...
on 07/24/14
Read more from Larry Perry here and in the Today's World of Audits archive.AU-C Section 800, Special Considerations—Audits of Financial Statements Prepared in Accordance With...
on 07/17/14
Read more from Larry Perry here and in the Today's World of Audits archive.Audits of all types of reporting frameworks will benefit from the effective use of analytical procedures in...
on 07/09/14
Read more from Larry Perry here and in the Today's World of Audits archive.Quality control practice aids purchased from major publishers are excellent tools to support the engagement...

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