Title Details

O. RAY WHITTINGTON, CPA, PhD, CMA, CIA, is Dean of the Driehaus College of Business and Kellstadt Graduate School of Business at DePaul University. Ray is a former member of the AICPA Auditing Standards Board and the AICPA Accounting and Review Services Committee. He is also the coauthor of Audit Sampling: An Introduction, Fifth Edition, available from Wiley.

Preface vii

About the Authors ix

About the Contributor ix

INTRODUCTION

Chapter 1: Beginning Your CPA Review Program 3

Chapter 2: Examination Grading 15

Chapter 3: The Solutions Approach 16

Chapter 4: Taking the Examination 24

Chapter 5: Exam Content Overview 28

FINANCIAL ACCOUNTING AND REPORTING

Module 9: Basic Theory and Financial Reporting 37

Module 10: Inventory 194

Module 11: Fixed Assets 239

Module 12: Monetary Current Assets and Current Liabilities 293

Module 13: Present Value 350

Module 14: Deferred Taxes 481

Module 15: Stockholders’ Equity 519

Module 16: Investments 576

Module 17: Statement of Cash Flows 619

Module 18: Business Combinations and Consolidations 650

Module 19: Derivative Instruments and Hedging Activities 703

Module 20: Miscellaneous 738

Module 21: Governmental (State and Local) Accounting 802

Module 22: Not-for-Profit Accounting 875

Outlines of Accounting Pronouncements 906

APPENDICES

Appendix A: Financial Accounting and Reporting Sample

Examination 1007

Appendix B: Sample Financial Accounting and Reporting Testlet

Released by the AICPA 1038

Appendix C: 2012 Released AICPA Questions for Financial

Accounting and Reporting 1046

INDEX 1067