Question 1

Accounting Research Manager, an online database to provide accounting, auditing, and other SEC authoritative literature, is a product of:

Accepted Answer

A) Checkpoint 
B) WG&L 
C) CCH IntelliConnect 
D) Westlaw 
A) Checkpoint 
B) WG&L 
C) CCH IntelliConnect 
D) Westlaw

Question 2

While browsing through Codification structure, all of the two-digit subtopics and three-digit intersection topics are displayed on the:

Accepted Answer

A) subsection page 
B) general topic landing page 
C) search screen 
D) none of these are correct 
A) subsection page 
B) general topic landing page 
C) search screen 
D) none of these are correct

Question 3

Which of the following International Accounting Standards deals with international guidance for accounting for income taxes?

Accepted Answer

A) IAS 29 
B) ASC 740 
C) SFAS 109 
D) IAS 12 
A) IAS 29 
B) ASC 740 
C) SFAS 109 
D) IAS 12

Question 4

The Codification system provides a cross-referencing system that allows researchers to locate guidance in the Codification using the old guidance or to find the old guidance using the new Codification reference.

Accepted Answer

A) True 
 B)False

Question 5

The Codification does not include material issued by the SEC applicable to public companies.

Accepted Answer

A) True 
 B)False

Question 6

Explain the basic principles of accounting for deferred taxes.

Accepted Answer

Many items of income and expense are not

Question 7

What is meant by "tax position"? Explain the requirements of ASC 740 for the reporting of tax positions.

Accepted Answer

​
A "tax position" is defined as a posit

Question 8

Accounting Statements of Position (SOPs) were brought into the FASB Accounting Standards Codification (ASC).

Accepted Answer

A) True 
 B)False

Question 9

Pre-codification literature issued by various standard setters includes:

Accepted Answer

A) Statements of Financial Accounting Standards 
B) Derivative Implementation Group Issues 
C) Accounting Research Bulletins 
D) all of these are correct 
A) Statements of Financial Accounting Standards 
B) Derivative Implementation Group Issues 
C) Accounting Research Bulletins 
D) all of these are correct

Question 10

Which of the following are missions of the International Accounting Standards Board (IASB)?

Accepted Answer

A) to contribute to economic efficiency by helping investors to identify opportunities and risks across the world 
B) to bring transparency by enhancing the international comparability and quality of financial information 
C) to strengthen accounting ability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money 
D) all of these are correct 
A) to contribute to economic efficiency by helping investors to identify opportunities and risks across the world 
B) to bring transparency by enhancing the international comparability and quality of financial information 
C) to strengthen accounting ability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money 
D) all of these are correct

Question 11

"A sound understanding of financial accounting is essential for tax professionals." Discuss.

Accepted Answer

For businesses that are required to prep

Question 12

As part of its Checkpoint series, Thomson Reuters offers:

Accepted Answer

A) Audit and Accounting Disclosure Manual 
B) GAAP Practice Manual 
C) SEC compliance 
D) all of these are correct 
A) Audit and Accounting Disclosure Manual 
B) GAAP Practice Manual 
C) SEC compliance 
D) all of these are correct

Question 13

Which of the following represents the correct Codification structure?

Accepted Answer

A) Sections-Subsections-Topics-Subtopics 
B) Topics-Subtopics-Sections-Subsections 
C) Code Sections and FASB Topics 
D) none of these are correct 
A) Sections-Subsections-Topics-Subtopics 
B) Topics-Subtopics-Sections-Subsections 
C) Code Sections and FASB Topics 
D) none of these are correct

Question 14

How is the Codification Research System's "Join Sections" function useful to tax researchers? Give an example of how it works.

Accepted Answer

The Codification Research System's "Join

Question 15

Accounting Research Manager (ARM) is part of the Codification Research System (CRS) offering access to accounting, auditing, governmental, and SEC authoritative literature.

Accepted Answer

A) True 
 B)False

Question 16

Exposure drafts issued for proposed updates of accounting standards in the Codification are indexed alphabetically.

Accepted Answer

A) True 
 B)False

Question 17

The main difference between U.S. GAAP and IFRS is that IFRS is much lengthier, with over 25,000 pages.

Accepted Answer

A) True 
 B)False

Question 18

Even with the Codification, the "Financial Accounting Standards Board (FASB) is not the only standard-setting authority in the United Sates." Explain.

Accepted Answer

The Financial Accounting Standards Board

Question 19

The FASB Codification "Join Sections" allows the related sections of a topic to be joined into a single document so that the guidance across all sections within a topic can be reviewed at the same time.

Accepted Answer

A) True 
 B)False

Question 20

Deferred tax assets represent:

Accepted Answer

A) future deductions 
B) contingent assets 
C) future includable income 
D) unearned revenue 
A) future deductions 
B) contingent assets 
C) future includable income 
D) unearned revenue

Accounting Research Manager, an online database to provide accounting, auditing, and other SEC authoritative literature, is a product of:

While browsing through Codification structure, all of the two-digit subtopics and three-digit intersection topics are displayed on the:

Which of the following International Accounting Standards deals with international guidance for accounting for income taxes?

The Codification system provides a cross-referencing system that allows researchers to locate guidance in the Codification using the old guidance or to find the old guidance using the new Codification reference.

The Codification does not include material issued by the SEC applicable to public companies.

Explain the basic principles of accounting for deferred taxes.

What is meant by "tax position"? Explain the requirements of ASC 740 for the reporting of tax positions.

Accounting Statements of Position (SOPs) were brought into the FASB Accounting Standards Codification (ASC).

Pre-codification literature issued by various standard setters includes:

Which of the following are missions of the International Accounting Standards Board (IASB)?

"A sound understanding of financial accounting is essential for tax professionals." Discuss.

As part of its Checkpoint series, Thomson Reuters offers:

Which of the following represents the correct Codification structure?

How is the Codification Research System's "Join Sections" function useful to tax researchers? Give an example of how it works.

Accounting Research Manager (ARM) is part of the Codification Research System (CRS) offering access to accounting, auditing, governmental, and SEC authoritative literature.

Exposure drafts issued for proposed updates of accounting standards in the Codification are indexed alphabetically.

The main difference between U.S. GAAP and IFRS is that IFRS is much lengthier, with over 25,000 pages.

Even with the Codification, the "Financial Accounting Standards Board (FASB) is not the only standard-setting authority in the United Sates." Explain.

The FASB Codification "Join Sections" allows the related sections of a topic to be joined into a single document so that the guidance across all sections within a topic can be reviewed at the same time.

Deferred tax assets represent:

Introduction to Tax Practice and Ethics

Tax Research Methodology

Constitutional and Legislative Sources

Administrative Regulations and Rulings

Judicial Interpretations

Tax Services Ria Checkpoint

Tax Services CCH Intelliconnect

Tax Services Specialty and Others

Multijurisdictional and Other Research

Communicating Research Results

Tax Planning

Working With the IRS

Tax Practice and Administration: Sanctions, Agreements, and Disclosures

Filters

Exam 10: Financial Accounting Research

Accounting Research Manager, an online database to provide accounting, auditing, and other SEC authoritative literature, is a product of:

While browsing through Codification structure, all of the two-digit subtopics and three-digit intersection topics are displayed on the:

Which of the following International Accounting Standards deals with international guidance for accounting for income taxes?

The Codification system provides a cross-referencing system that allows researchers to locate guidance in the Codification using the old guidance or to find the old guidance using the new Codification reference.

The Codification does not include material issued by the SEC applicable to public companies.

Explain the basic principles of accounting for deferred taxes.

What is meant by "tax position"? Explain the requirements of ASC 740 for the reporting of tax positions.

Accounting Statements of Position (SOPs) were brought into the FASB Accounting Standards Codification (ASC).

Pre-codification literature issued by various standard setters includes:

Which of the following are missions of the International Accounting Standards Board (IASB)?

"A sound understanding of financial accounting is essential for tax professionals." Discuss.

As part of its Checkpoint series, Thomson Reuters offers:

Which of the following represents the correct Codification structure?

How is the Codification Research System's "Join Sections" function useful to tax researchers? Give an example of how it works.

Accounting Research Manager (ARM) is part of the Codification Research System (CRS) offering access to accounting, auditing, governmental, and SEC authoritative literature.

Exposure drafts issued for proposed updates of accounting standards in the Codification are indexed alphabetically.

The main difference between U.S. GAAP and IFRS is that IFRS is much lengthier, with over 25,000 pages.

Even with the Codification, the "Financial Accounting Standards Board (FASB) is not the only standard-setting authority in the United Sates." Explain.

The FASB Codification "Join Sections" allows the related sections of a topic to be joined into a single document so that the guidance across all sections within a topic can be reviewed at the same time.

Deferred tax assets represent:

Introduction to Tax Practice and Ethics

Tax Research Methodology

Constitutional and Legislative Sources

Administrative Regulations and Rulings

Judicial Interpretations

Tax Services Ria Checkpoint

Tax Services CCH Intelliconnect

Tax Services Specialty and Others

Multijurisdictional and Other Research

Communicating Research Results

Tax Planning

Working With the IRS

Tax Practice and Administration: Sanctions, Agreements, and Disclosures

Filters