Bec cpa - Study guides, Class notes & Summaries

BEC CPA Complete Questions and Answers 2024 Principals-based approach of COSO framework - answermanagement judgement 3 objectives of COSO - answerO-operating objectives (effectiveness and efficiency) R-reporting objectives (reliability, timeliness, transparency) C-compliance objectives (adhering to laws and regulations) 5 Components of COSO Framework - answer1. Control Environment 2. Risk Assessment 3. Control Activities 4. Information and Communication 5. Monitoring Control Environme...

BEC CPA EXAM IT 2024 Final exam Questions and Answers

BEC CPA Exam Review 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. The Consumer Pri...

BEC CPA Exam Review.

BEC CPA EXAM REVIEW QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

CPA Exam - BEC Final Review Questions And Answers Latest Update

BEC CPA Exam COSO Framework assists Management and the Board of Directors by: - ANSWER-Effectively applying Internal Control Determining the requirements of an effective system Allow judgement and flexibility in the design of I/C Identify and analyze risks, and develop effective responses Eliminate redundant, ineffective, or inefficient controls Extend I/C application beyond financial reporting Three Objective of COSO Framework - ANSWER-Operations, Reporting, Compliance Objectives ...

BEC CPA Exam Review Question and answer with complete solution

BEC CPA Exam Questions & Answers 2023/2024 COSO Framework assists Management and the Board of Directors by: - ANSWER-Effectively applying Internal Control Determining the requirements of an effective system Allow judgement and flexibility in the design of I/C Identify and analyze risks, and develop effective responses Eliminate redundant, ineffective, or inefficient controls Extend I/C application beyond financial reporting Three Objective of COSO Framework - ANSWER-Operations, Report...

BEC CPA EXAM Acronyms Internal Control Components - ANSWER-CRIME 1. Control environment 2. Risk assessment 3. Information and communication 4. Monitoring 5. Existing control activities Categories of Objectives - ANSWER-ORC 1. Operations 2. Reporting 3. Compliance Principles of Control Environment - ANSWER-EBOCA 1. Ethics and Integrity 2. Board Independence and Oversight 3. Organizational Structure 4. Commitment to competence 5. Accountability Principles of Risk A...