CPA Exercises (Beta)

FAR (Financial Accounting and Reporting)

• Accounts

  • Account Types
  • Accounting Equation
  • Debits and Credits
  • Journal Entries for a Sale
  • Plugs

• Bad Debt

  • Aging Method for Estimating Uncollectable Accounts
  • Percentage of Sales Method for Estimating Bad Debt Expense

• Bonds

  • Bonds at a Premium or Discount
  • Journal Entries for Bonds at Par
  • Present Value of Bonds

• Cash and Cash Flow

  • Annuities
  • Bank Reconciliation
  • Cash and Cash Equivalents
  • Cash Flow From Operating Activities: Indirect Method
  • Time Value of Money

• Depreciation

  • Double-Declining-Balance Depreciation
  • Journal Entries for Depreciation
  • Straight-Line Depreciation
  • Sum-of-Years-Digits Depreciation
  • Units of Production Depreciation

• Foreign Currency Exchange

  • Exchange Rates
  • Foreign Currency Gain or Loss

• Inventory

  • Cost of Goods Sold
  • FIFO Inventory
  • FIFO or LIFO?
  • Free on Board
  • LIFO Inventory
  • Lower of Cost or Market
  • Lower of Cost or Market vs Net Realizable Value
  • Lower of Cost or Net Realizable Value

• Leases

  • Finance or Operating Lease?

• Misc

  • Common Stock Classifications
  • FASB Conceptual Framework
  • Financial Ratios
  • Financial Statements
  • Sales Discounts
  • Types of Accounting Changes

• Valuation

  • Equity Method
  • Fair Value
  • Fair Value Hierarchy
  • Fair Value Method

AUD (Auditing and Attestation)

• Misc

  • Contingent Liabilities
  • COSO Internal Control Framework [NEW]
  • Factors that Affect Audit Sample Size [NEW]
  • Fraud Triangle
  • Inventory Errors
  • Subsequent Events
  • Types of Assurance Services
  • Types of Audit Opinions
  • Types of Audit Sampling [NEW]
  • Types of Audit Tests

REG (Taxation and Regulation)

• Tax

  • Deferred Tax Assets and Liabilities

BAR (Business Analysis and Reporting)

• Government Accounting

  • Governmental Funds

• Managerial Accounting

  • Break-Even Analysis
  • Fixed or Variable Costs
  • Labor Efficiency Variance

Misc. Topics NOT on the CPA exam

• Various

  • Chart of Accounts
  • Government Forms
  • IRS Tax Forms
  • States without Income Tax
  • States without Sales Tax