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Summary / Zusammenfassung

Financial Management / Introduction to Accounting Summary

Summary based on the course from the ebest university in Germany, TUM, with everything you need to pass Accounting

11. Which of the following factors most likely would cause a CPA to not accept a new audit engagement? A. The prospective client has fired its prior auditor. B. The CPA lacks a thorough understanding of the prospective client's operations and industry. C. The CPA is unable to review the predecessor auditor's working papers due to a major fire that destroyed both hard and soft copy documentation. D. The prospective client is unwilling to make financial records available to the CPA. - -D. T...

11. Which of the following factors most likely would cause a CPA to not accept a new audit engagement? A. The prospective client has fired its prior auditor. B. The CPA lacks a thorough understanding of the prospective client's operations and industry. C. The CPA is unable to review the predecessor auditor's working papers due to a major fire that destroyed both hard and soft copy documentation. D. The prospective client is unwilling to make financial records available to the CPA. - -D. T...

11. Which of the following factors most likely would cause a CPA to not accept a new audit engagement? A. The prospective client has fired its prior auditor. B. The CPA lacks a thorough understanding of the prospective client's operations and industry. C. The CPA is unable to review the predecessor auditor's working papers due to a major fire that destroyed both hard and soft copy documentation. D. The prospective client is unwilling to make financial records available to the CPA. - -D. T...

Internal Reconstruction is a critical concept in Corporate Accounting that involves reorganizing and restructuring a company's financial and operational aspects. This course provides an in-depth understanding of the different methods used for internal reconstruction, including alteration of share capital, revaluation of assets and liabilities, elimination of fictitious assets, and reduction in share capital. The course covers the legal and accounting aspects of internal reconstruction and pr...

What is an asset held for sale? What are the differences between PPE (property, plant and equipment) and non-current assets held for sale? How do we recognize and measure assets held for sale? How do we presents the sale of assets held for sale in the financial statements? What are disposal groups and discontinued operations?

What is impairment of assets and why do we need it? What is a cash generating unit (CGU)? What is the recoverable amount and how do we calculate it? How do we present impairment losses or gains in the financial statements?

Explanation of intangible assets, what they are and what goodwill is