Bec cpa exam - Study guides, Class notes & Summaries

CPA BEC Formulas Exam Questions & Answers 2023/2024 Weighted Average Cost of Capital - ANSWER-(Cost of Equity x % Equity in Cap Structure) + (Weighted Average Cost of Debt x % of Debt in Cap Structure) Weighted Average Cost of Debt - ANSWER-Effective Annual Interest Payments / Debt Outstanding After Tax Cost of Debt - ANSWER-Pretax Cost of Debt x (1 - Tax Rate) Cost of Preferred Stock - ANSWER-Preferred Stock Dividends / Net Proceeds of Preferred Stock CAPM (Cost of Retained Earni...

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-...

BEC CPA Exam Review.

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 Chapter 1 Committee of Sponsoring organizations - ANSWER-- Independent private sector created in the mid 1980's to study the factors that led to fraulent financial reporting Internal Control - Integrated Framework - ANSWER--Used by a company's management and BOD to obtain initial understanding of what constitutes on effective IC - Provides confidence to external stakeholders - Principles based approach ( not black and white) - eveolved into 17 principles that are categ...

BEC CPA Exam Review Question and answer with complete solution

BEC CPA Exam Review Questions & Answers 2023/2024 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...

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 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...