更多服务

特色服务

找学习资源

查报考信息

看备考资讯

备考工具箱

报考指南

报考条件

考试日历

资料中心

考试动态

就业前景

热门题库

网校课程

精彩推荐

全部

USCPA冲刺练习：SIM填空题解析（5）

来源：高顿网校 2015-11-17

　　Your firm has become aware of the following situations relating to five of its clients. Use the following possibilities to indicate what type of opinions are appropriate in the circumstances (assume all are material).

　　Opinion Types

　　A. Standard unqualified.

　　B. Unqualified with a matter.

　　C. Qualified.

　　D. Adverse.

　　E. Disclaimer.

　　F. Either qualified or adverse.

　　G. Either qualified or disclaimer.

　　H. Either adverse or disclaimer.

　　1. Bowles Company is engaged in a hazardous trade and has obtained insurance coverage related to the hazard. Although the likelihood is remote, a material portion of the company’s assets could be destroyed by a serious accident.

　　2. Draves Company owns substantial properties that have appreciated significantly in value since the date of purchase. The properties were appraised and are reported in the balance sheet at the appraised values with full disclosure. The CPAs believe that the appraised values reported in the balance sheet reasonably estimate the assets’ current values.

　　3. During the audit of Eagle Company the CPA firm has encountered a significant scope limitation relating to inventory record availability and is unable to obtain sufficient appropriate audit evidence in that area.

　　4. London Company has material investments in stocks of subsidiary companies. Stocks of the subsidiary companies are not actively traded in the market, and the CPA firm’s engagement does not extend to any subsidiary company. The CPA firm is able to determine that all investments are carrier at original cost, and the auditors have no reason to suspect that the amounts are not stated fairly.

　　5. Slade Company has material investments in stocks of subsidiary companies. Stocks of the subsidiary companies are actively traded in the market, but the CPA firm’s engagement does not extend to any subsidiary company. Management insists that all investments shall be carried at original costs, and the CPA firm is satisfied that the original costs are accurate. The CPA firm believes that the client will never ultimately realize a substantial portion of the investments, and the client has fully disclosed the facts in notes to the financial statements.

　　Item Opinion type

　　Answer:

　　1. (A) A standard unqualified audit report should be issue.

　　2. (F) Either a qualified or an adverse opinion is required. Valuation of assets at appraised values is not in accordance with generally accepted accounting principles. Since the difference between appraised value and cost is significant, an unqualified opinion would not be appropriate.

　　3. (G) A scope limitation results in either a qualified opinion or a disclaimer of opinion.

　　4. (G) This is a scope limitation and either a qualified opinion or disclaimer of opinion is appropriate.

　　5. (F) An adverse or a qualified opinion is necessary. The CPA firm has acquired sufficient competent evidence to the effect that the investments in stock of subsidiary companies are overstated. Note disclosure does not compensate for improper balance sheet presentation.

　　高顿网校温馨提醒

　　USCPA-美国注册会计师，全球会计*9证，国内人才缺口25万，年薪40W起，如何成为全球财会精英？点击获取USCPA职业发展白皮书！

　USCPA考试免费题库【手机题库下载】| 在线直播

　USCPA高清网课免费体验 USCPA名师精品班免费试听

　　美国注册会计师精彩推荐： USCPA招生专题

　　解析：USCPA到底是什么？

USCPA职业发展与分析

USCPA考试常见问题解析

版权声明：本条内容自发布之日起，有效期为一个月。凡本网站注明“来源高顿教育”或“来源高顿网校”或“来源高顿”的所有作品，均为本网站合法拥有版权的作品，未经本网站授权，任何媒体、网站、个人不得转载、链接、转帖或以其他方式使用。经本网站合法授权的，应在授权范围内使用，且使用时必须注明“来源高顿教育”或“来源高顿网校”或“来源高顿”，并不得对作品中出现的“高顿”字样进行删减、替换等。违反上述声明者，本网站将依法追究其法律责任。本网站的部分资料转载自互联网，均尽力标明作者和出处。本网站转载的目的在于传递更多信息，并不意味着赞同其观点或证实其描述，本网站不对其真实性负责。如您认为本网站刊载作品涉及版权等问题，请与本网站联系(邮箱fawu@gaodun.com，电话：021-31587497)，本网站核实确认后会尽快予以处理。

展开全文咨询在线

在线咨询热销

专业老师服务限时优惠

图文问答

图片文字快速问答