회계 세무 공부/AICPA 공부 요약75 [REG] Tax credits 1. Tax credits reduce taxpayer's tax liability, classified into two categories: refundable/ non-refundable tax creditsNonrefundable tax creditsChild and dependent care credit, Elderly and permanently disabled credit, Lifetime learning credit, American opportunity credit(60% nonrefundable), Retirement savings contribution credit, foreign tax credit, General business credit, Adoption creditRefunda.. 2024. 4. 14. [REG] Below the line deductions(deductions for AGI) Standard deduction / Itemized deduction, whichever is largerFiling status determined on December 31 of each year1) Single2) Married filing jointly joint return cannot be filed if the husband and wife have different taxable years3) Married filing separately4) Qualifying widow with dependent child(Surviving spouse,SS) - Qualifying widow > + 2years spouse died * joint return tax rates .. 2024. 4. 12. [REG] Filling status, Dependency Definitions Filling status (Year End Test) Single Married Joint Returns Married Filing Separately Qualifying Widow (surviving spouse) with dependent child - +2years after spouse died(MFJ in the year of death) - Dependent Child - Principal residence for a dependent child for the whole year - more than 1/2 of expenses Head of household - Single (unmarried, lived apart from their spouse for the last 6 months o.. 2024. 3. 23. [AUD] Engagement Acceptance & Planning Engagement acceptance and continuance 1. Determine the nature and scope of engagement 2. CPA firm's ability & independence, Client's integrity & audibility 3. Communication with the predecessor auditor(must, oral / written), consent of the prospective client - integrity of client - disagreement w mgt - communication to audit committee regarding fraud, illegal acts, IC - reasons for change Planni.. 2024. 3. 19. [AUD] Code of professional conduct Code of professional conduct Any service that a member of the AICPA performs if not in public practice only Rule 102 (integrity and objectivity) and 501 (Discreditable Acts) must be observed what is right and just, all members of AICPA responsibility toward the public Principles 1) Responsibilities: professional and moral judgments 2) Public interest 3) Integrity: right and just 4) Objectivity a.. 2024. 3. 19. [AUD] Internal Control (Planning stage, TOC) 0. General Responsibility Management establish and maintain the effective and efficient internal control Auditor plan audit and assess control risk ensure the audit committee is aware of SD and MW which come to the auditor's attention > no obligation to search for SD of IC Limitation reasonable assurance - cost constraints - mgt override - human judgment in decision-making - human failure - cont.. 2024. 3. 19. [AUD] Sampling 0. General Sampling 대상 Risk assessment (x) TOC ( observation x, inspection 0, inquiry x, reperformance x) ST ( AP x, TOD balance 0, transaction x) Non-statistical / statistical sampling Both involve judgment in planning,executing, evaluating the results of the sample Both provide sufficient, competent evidential matter Non-sampling risk/ Sampling risk Non-sampling risk failure to select appropri.. 2024. 3. 19. [AUD] Risk assessment, TOC, Evidence, Final stage Risk Assessment, Planning Risk assessment to obtain an understanding of the client and its environment Risks of material misstatement(IRxCR) are assessed > determine the Nature, Extent, Timing of additional audit procedure Inherent Risk Accounting is a complex, difficult > IR up Nonroutine transaction(ex. high-value transaction: buy building) > IR up New business risk > affects the risk of MM at.. 2024. 3. 18. [AUD] Business cycles, Economic indicators Business cycles Expansionary Phase - rising profits, strong growth, increase demand, rising price - lower unemployment Peak - high point of economic activity - input shortage lead to higher costs and higer price level Contractionary Phase - higher unemployment Trough - profits at lowest elvel - firms have excess capacity, reduce cost and their workforces Recovery Phase - recovering economc activ.. 2024. 3. 17. 이전 1 ··· 3 4 5 6 7 8 9 다음 반응형
