In this video, we walk through 5 FAR practice teaching about the statement of comprehensive income. These questions are from FAR content area 1 on the AICPA CPA exam blueprints: Financial Reporting. The best way to use this video is to pause each time we get to a new question in the video, and then ..read more

In this SuperfastCPA podcast interview, you’ll hear how Brittany adopted a few of the SuperfastCPA study strategies into her CPA study process, and how it transformed her study process and allowed her to crush the CPA exams, and still have time to play video games each night. IMPORTANT LINKS: Master your study process by attending ..read more

In this video, we walk through 5 FAR practice teaching about calculating foreign currency transaction gains and losses. These questions are from FAR content area 1 on the AICPA CPA exam blueprints: Financial Reporting. The best way to use this video is to pause each time we get to a new question in the video ..read more

In this video, we walk through 5 FAR practice teaching about adjusting the income statement to correct errors. These questions are from FAR content area 1 on the AICPA CPA exam blueprints: Financial Reporting. The best way to use this video is to pause each time we get to a new question in the video ..read more

Introduction Brief Overview of the Importance of Independence in Audits In this article, we’ll cover understanding the independence requirements of the Department of Labor. Independence is a cornerstone of the auditing profession. It ensures that auditors remain objective and impartial, providing stakeholders with confidence in the accuracy and reliability of financial statements. Without independence, the credibility of an auditor’s report is compromised, which can erode public trust and lead to financial misstatements going undetected. Independence in auditing is not just about avoiding actu ..read more

Introduction Overview of the GAO Government Auditing Standards In this article, we’ll cover understanding situations that could present threats to compliance in a GAO engagement. The Government Accountability Office (GAO) Government Auditing Standards, commonly referred to as the Yellow Book, serve as a comprehensive framework for conducting audits of government entities and entities receiving federal awards. These standards are designed to ensure that auditors provide accurate, objective, and reliable information that can be used to improve government operations and accountability. The Yellow ..read more

Introduction Brief Overview of the GAO (Government Accountability Office) and Its Role In this article, we’ll cover understanding the ethical and independence requirements of the GAO Government Auditing Standards. The Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the United States Congress. Often referred to as the “congressional watchdog,” the GAO’s mission is to support Congress in meeting its constitutional responsibilities and to help improve the performance and ensure the accountability of the federal government for the benefit of the American ..read more

Introduction The Importance of Auditor Independence In this article, we’ll cover understanding situations that could compromise independence in the audit of an issuer. Auditor independence is a cornerstone of the auditing profession, ensuring the integrity and objectivity of the audit process. Independence means that auditors must carry out their work free from biases, conflicts of interest, and undue influence. This independence is crucial because it enhances the credibility of financial statements, which stakeholders rely upon to make informed decisions. Without independence, the reliability ..read more

Introduction Brief Overview of the Importance of Ethical and Independence Requirements in Accounting and Auditing In this article, we’ll cover understanding the ethical and independence requirements of the SEC and PCAOB. Ethical conduct and independence are fundamental pillars of the accounting and auditing profession. Ethical standards ensure that accountants and auditors act with integrity, objectivity, and professionalism, fostering trust and confidence in financial reporting. Independence, a critical aspect of ethical conduct, mandates that auditors maintain an unbiased perspective, free f ..read more

In this video, we walk through 6 FAR practice teaching about preparing an income statement. These questions are from FAR content area 1 on the AICPA CPA exam blueprints: Financial Reporting. The best way to use this video is to pause each time we get to a new question in the video, and then make your own attempt at the question before watching us go through it. Also be sure to watch one of our free webinars on the 6 “key ingredients” to an extremely effective & efficient CPA study process here… Click here to watch the video on YouTube…Preparing an Income Statement An income statement, als ..read more