Cpa bec exam - Study guides, Class notes & Summaries

CPA, BEC, Corporate Governance Bisk, Chapter 49, Corporate Governance, 2024 Exam Review

BEC CPA Exam Formulas/Ratios Stated Interest Rate/ SAR/ Nominal Int. Rate - ANSWER-no calculation needed! EIR (effective int. rate) - ANSWER-EIR= Int. paid per period/net loan proceeds =((P*SAR)/#ofperiods)/net loan proceeds net loan proceeds= loan proceeds - compensating balance APR (annual percentage rate) - ANSWER-APR= EIR * periods in a year EAR (effective annual percentage rate) - ANSWER-EAR = (1 + EIR) -1 = (1 + (i/P)) ^P - 1 = ( (1+SR)/#ofperiods)^#ofperiods...

CPA Exam BEC question and answers with complete solution

BEC CPA Exam (Module 1) 3 Categories of Objectives within the COSO framework - ANSWER-ORC 1. Operations 2. Reporting (focus of COSO) 3. Compliance 5 Components of Internal Control - ANSWER-CRIME (applies to all 3 objectives) Control Environment Risk Assessment Information and Communication Monitoring Existing Control Activities Control Environment (CRIME) - 5 principles - ANSWER-EBOCA Ethics Board independence Organizational Structure Commitment to Competence A...

CPA Exam - BEC Strategic Planning - ANSWER-The sequence of interrelated procedures for determining an entity's long-term goals and identifying the best approaches for achieving those goals Mission statement - ANSWER-An expression of the purpose and range of activities of the entity Entity values - ANSWER-The underlying beliefs that govern the operations of an entity and the conduct of its relationship with other parties Objectives - ANSWER-The desired, measurable results the entit...

CPA Exam - BEC Final Review Questions & Answers 2023/2024 EBIT / Sales - ANSWER-return on sales NI / EBT - ANSWER-tax burden Sales / Avg AR - ANSWER-accounts receivable turnover Sales / Avg Total Assets - ANSWER-asset turnover COGS / Avg Inventory - ANSWER-inventory turnover CF from operations / CL - ANSWER-operating cash flow ratio inversely - ANSWER-demand is ______ related to interest rates, discount rate, reserve requirement Inventory conversion period + receivables...

BEC CPA Exam Notes Questions & Answers 2023/2024 SU 1 (18% of test) - ANSWER-Corporate Governance Basic Corporate Documents - ANSWER-Articles of Incorporation: Corp's name, # Share authorized, Address of Registered Office, Name of Registered Agent, Name and Address of each incorporator Filed with secretary of state Articles of Incorporation are general. Bylaws: contain information about managing affairs of corporation. Bylaws are detailed. Common and Preferred Shareholders - ANSWER-...

CPA Business Environment and Concepts (BEC) 2024 Multiple Choice Exam

BEC CPA Exam Review Study Guide Solutions Demand Curve Shift Upward (direct relationship-positive shift) - ANSWER-The price of subsitute goods, expectations of price changes, income for normal goods, and extent of market Demand Curve Shift Downward (inverse relationship-neg. shift) - ANSWER-The price of complement good, income for inferior goods, and consumer boycotts SWOT analysis - ANSWER-strengths, weaknesses, opportunities, threats Three common measures of price inflation: - ANSWER-1...

BEC CPA Exam Notes SU 1 (18% of test) - ANSWER-Corporate Governance Basic Corporate Documents - ANSWER-Articles of Incorporation: Corp's name, # Share authorized, Address of Registered Office, Name of Registered Agent, Name and Address of each incorporator Filed with secretary of state Articles of Incorporation are general. Bylaws: contain information about managing affairs of corporation. Bylaws are detailed. Common and Preferred Shareholders - ANSWER-Common have contributed basic ...