Wiley CPA Examination Review, Problems and Solutions (Wiley CPA Examination Review, Volume 2) - Softcover
Inhaltsangabe
This title presents everything that today's CPA candidates need to pass the CPA exam. Published annually, this comprehensive two-volume paperback reviews all four parts of the CPA exam. Many of the questions are taken directly from previous CPA exams. Volume I contains all study guides and outlines, while Volume II contains all problem solutions. With 2,700 multiple choice questions and more than 75 simulations, these study guides provide all the information candidates need to master in order to pass the computerized Uniform CPA Examination. O. Ray Whittington, PhD, CPA, CMA, CIA (Chicago, IL), is the Ledger Quill Director of the School of Accountancy at DePaul University and vice chair of the Auditing Standards Board of the AICPA. His previous positions were the Director of the School of Accountancy at San Diego State University and the Director of Auditing Research for the American Institute of Certified Public Accountants (AICPA). Patrick R. Delaney, PhD, CPA, was the Arthur Andersen LLP Alumni Professor of Accountancy and Department Chair at Northern Illinois University and was author of "Audit Sampling: An Introduction, Fifth Edition" (0-471-37590-X).
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Über die Autorin bzw. den Autor
Ray Whittington, PhD, CPA, CMA, CIA, is the dean of the College of Commerce at DePaul University. Prior to joining the faculty at DePaul, Professor Whittington was the Director of Accountancy at San Diego State University. From 1989 through 1991, he was the Director of Auditing Research for the American Institute of Certified Public Accountants (AICPA), and he previously was on the audit staff of KPMG. He previously served as a member of the Auditing Standards Board of the AICPA and as a member of the Accounting and Review Services Committee and the Board of Regents of the Institute of Internal Auditors. Professor Whittington has published numerous textbooks, articles, monographs, and continuing education courses. Patrick R. Delaney, deceased, was the dedicated author and editor of the Wiley CPA Exam Review books for twenty years. He was the Arthur Andersen LLP Alumni Professor of Accountancy and Department Chair at Northern Illinois University. He received his PhD in Accountancy from the University of Illinois. He had public accounting experience with Arthur Andersen LLP and was coauthor of GAAP: Interpretation and Application, also published by John Wiley & Sons, Inc. He served as Vice President and a member of the Illinois CPA Society's Board of Directors, and was Chairman of its Accounting Principles Committee; was a past president of the Rockford Chapter, Institute of Management Accountants; and had served on numerous other professional committees. He was a member of the American Accounting Association, American Institute of Certified Public Accountants, and Institute of Management Accountants. Professor Delaney was published in The Accounting Review and was a recipient of the Illinois CPA Society's Outstanding Educator Award, NIU's Excellence in Teaching Award, and Lewis University's Distinguished Alumnus Award. He was involved in NIU's CPA Review Course as director and instructor.
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Wiley CPA Exam Review, 36th Edition 2009–2010
Volume 1: Outlines and Study Guides
- Covers all four sections of the CPA examination point by point
- Stresses important topical areas to study for each part
- Helps establish a self–study preparation program
- Divides exam into 45 manageable study units
- Provides an outline format supplemented by brief examples and illustrations
- Makes material easy to read, understand, and remember
- Includes timely, up–to–the–minute coverage for the computerized exam
- Explains step–by–step examples of the "solutions approach"
- Contains all current AICPA content requirements for all four sections of the exam
Volume 2: Problems and Solutions
- Offers selected problems from all four examination sections
- Contains rationale for correct or incorrect multiple–choice answers
- Covers the new simulation–style problems–offering more than 75 practice questions
- Details a "solutions approach" to each problem
- Updates unofficial answers to reflect current laws and standards
- Groups multiple–choice questions into topical categories within modules for easy cross–referencing
- Provides a sample examination for each of the four exam parts
The format and content of the CPA exam keeps changing—be prepared!
The 36th Edition of the Wiley CPA Review is revised and updated for the computerized exam. To help candidates prepare for the exam, this edition includes a substantial number of new simulation questions. Passing the CPA exam on your first attempt is possible! We′d like to help.
Get Even More Information Online:
You′ll find a wide range of aids for doing your best on the CPA exam at wiley.com/cpa, including content updates, CPA exam study and test–taking tips, and more. All Wiley CPA Exam Review products are listed on the site.
Aus dem Klappentext
Wiley CPA Exam review
Master Simulations with New AICPA Exam Functionality
Includes April 2009 AICPA Released Questions
36th Edition
2009-2010
Volume 2
Problems and Solutions
O. Ray Whittington, CPA, PhD
Patrick R. Delaney, CPA, PhD
Auszug. © Genehmigter Nachdruck. Alle Rechte vorbehalten.
Wiley CPA Examination Review, Problems and Solutions
By Patrick R. Delaney O. Ray WhittingtonJohn Wiley & Sons
Copyright © 2009 John Wiley & Sons, LtdAll right reserved.
ISBN: 978-0-470-45337-7
Chapter One
HOW TO USE THIS BOOK
This volume is a collection of CPA problems and solutions. The text is designed and organized to be used in conjunction with Volume 1, CPA Examination Review: Outlines and Study Guides, but may be used with or without any other study source. Each module in this volume corresponds to a module in Volume 1. In this volume, a module consists of
1. Multiple-choice questions
2. Simulation problems
3. Unofficial answers for the multiple-choice questions with the author's explanations
4. Answers for simulation problems
The sources of the problem material in each module are, of course, the four sections of the CPA Exam. The modules are grouped together into chapters, which correspond with the four sections of the exam. The following table shows how the modules are organized in Volume 2.
The material in Volume 2 allows candidates to work CPA exam questions, some of which have appeared on previous examinations. This provides candidates with an effective method of studying the material tested on the exam. However, candidates should also realize that the CPA has new material. Therefore, candidates should use the study guides and outlines included in Volume 1 as a means of bridging this gap.
Also included at the end of this volume are sample exams for all four sections. They are included to enable candidates to gain experience in taking a "realistic" exam. While working through the modules, the candidate can become accustomed to concentrating on a fairly narrow range of topics. By taking the sample examinations near the end of their study program, candidates will be better prepared for taking the actual examination.
Before you begin working the CPA problems in this volume, peruse the table of contents and scan through the book, noting the manner in which the chapters and modules are organized. The schedule at the beginning of each chapter provides an index to the simulations and problems appearing in each module. Some questions have been modified to reflect recent changes in law or practice. For a complete analysis of recent examinations and the AICPA Uniform CPA Examination Content Specification Outlines of future examinations, see the beginning of each chapter starting with Chapter 5 in Volume 1, Outlines and Study Guides.
Multiple-Choice Questions
The multiple-choice questions and answer explanations can be used in many ways. First, they may be used as a diagnostic evaluation of your knowledge. For example, before beginning to review audit sampling you may wish to answer every fourth multiple-choice question to determine your ability to answer CPA examination questions on audit sampling. The apparent difficulty of the questions and the correctness of your answers will allow you to determine the necessary breadth and depth of your review. Additionally, exposure to examination questions prior to review and study of the material should provide motivation. You will develop a feel for your level of proficiency and an understanding of the scope and difficulty of past examination questions.
Second, the multiple-choice questions can be used as a poststudy or postreview evaluation. You should attempt to understand all concepts mentioned (even in incorrect answers) as you answer the questions. Refer to the explanation of the answer for discussion of the alternatives even though you selected the correct response. Thus, you should read the explanation of the unofficial answer unless you completely understand the question and all of the alternative answers.
Third, you may wish to use the multiple-choice questions as a primary study vehicle. This is probably the quickest, but least thorough, approach. Make a sincere effort to understand the question and to select the correct reply before referring to the answer and explanation. In many cases the explanations will appear inadequate because of your unfamiliarity with the topic.
The multiple-choice questions in Volume 2 are grouped into study sets. The study sets include a smaller amount of related material than the study modules, which provides greater flexibility in the individual candidate's study strategy. The answer explanations for the multiple-choice questions in Volume 2 also include headings which provide cross-references to the text material in Volume 1. For example, in Module 9, Fixed Assets, the heading "F. Depreciation" appears above the answers to those questions dealing with depreciation. The topical coverage of depreciation in Volume 1 can then be found by referring to the corresponding heading within Module 9.
One of the benefits of working through multiple-choice questions is that it helps you to identify your weak areas. Once you have graded your answers, your strong areas and weak areas should be clearly evident. Yet, the important point here is that you should not stop at a simple percentage evaluation. The percentage only provides general feedback about your knowledge of the material contained within that particular module. The percentage does not give you any specific feedback regarding the concepts which were tested. In order to get this feedback, you should look at the questions missed on an individual basis because this will help you gain a better understanding of why you missed the question. This feedback process has been facilitated by the fact that within each module where the multiple-choice answer key appears, two blank lines have been inserted next to the multiple-choice answers. As you grade the multiple-choice questions, mark those questions which you have missed. However, instead of just marking the questions right and wrong, you should now focus on marking the questions in a manner which identifies why you missed the question. As an example, a candidate could mark the questions in the following manner:
The multiple-choice questions substantially outnumber the simulation problems in this book. This is similar to what can be expected on the CPA exam. The multiple-choice questions make up about 75% of the total examination.
One difficulty with so many multiple-choice questions is that you may overemphasize them. Candidates generally prefer to work multiple-choice questions because they are shorter and less time consuming and solvable with less effort.
Simulations require the ability to organize and compose a solution, as well as knowledge of the subject matter. Remember, working simulations from start to finish is just as important as, if not more...
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