Book Description
The world's most effective CPA exam prep system - Business and Environmental Concepts module
Wiley CPAexcel Exam Review is the world's most trusted study guide for the Certified Public Accountant's exam - complete, comprehensive, and updated to align with the latest exam content. With 2,800 practice questions and solutions across four volumes, the unique modular format helps you organize your study program, zeroing in on areas where you need work. This volume, Business Environment and Concepts, contains all current AICPA content requirements, providing total coverage of this section of the exam. You'll get detailed outlines and study tips, simulation and multiple choice questions, and skill-building problems that have made this guide the most effective CPA prep system for over thirty years.
The uniform CPA exam is updated annually to include new laws, regulations, and guidelines, so it's important that your study guide be up to date as well. Wiley CPAexcel Exam Review is updated annually to reflect the latest version of the exam, and is the number-one bestselling CPA study guide in the world because it provides full, comprehensive coverage of all exam content, and more practice questions than any other guide - many of which are taken directly from past exams. The unique format allows you to:
Identify, target, and master problem areas section by section
Learn how to logically build your knowledge stores for better recall
Practice with thousands of sample questions taken from past exams
Review all exam content, including the newest guidelines and regulations
No one wants surprises on exam day, and thorough preparation is the key to successful performance. Whether you're embarking on a new study program, or just need a quick refresher before the exam, Wiley CPAexcel Exam Review is proven to be the most current, complete, comprehensive prep you can get.
Book Description
The world's most effective CPA exam prep system - Business and Environmental Concepts module
Wiley CPAexcel Exam Review is the world's most trusted study guide for the Certified Public Accountant's exam - complete, comprehensive, and updated to align with the latest exam content. With 2,800 practice questions and solutions across four volumes, the unique modular format helps you organize your study program, zeroing in on areas where you need work. This volume, Business Environment and Concepts, contains all current AICPA content requirements, providing total coverage of this section of the exam. You'll get detailed outlines and study tips, simulation and multiple choice questions, and skill-building problems that have made this guide the most effective CPA prep system for over thirty years.
The uniform CPA exam is updated annually to include new laws, regulations, and guidelines, so it's important that your study guide be up to date as well. Wiley CPAexcel Exam Review is updated annually to reflect the latest version of the exam, and is the number-one bestselling CPA study guide in the world because it provides full, comprehensive coverage of all exam content, and more practice questions than any other guide - many of which are taken directly from past exams. The unique format allows you to:
Identify, target, and master problem areas section by section
Learn how to logically build your knowledge stores for better recall
Practice with thousands of sample questions taken from past exams
Review all exam content, including the newest guidelines and regulations
No one wants surprises on exam day, and thorough preparation is the key to successful performance. Whether you're embarking on a new study program, or just need a quick refresher before the exam, Wiley CPAexcel Exam Review is proven to be the most current, complete, comprehensive prep you can get.
Table of Contents
- Cover Page
- Title Page
- Copyright
- Contents
- PREFACE
- ABOUT THE AUTHOR
- ABOUT THE CONTRIBUTOR
- INTRODUCTION
- BUSINESS ENVIRONMENT AND CONCEPTS
- Module 40: Corporate Governance, Internal Control, and Enterprise Risk Management
- Module 41: Information Technology
- A. Information Systems Within a Business
- B. Characteristics of IT Systems—General
- C. Characteristics of IT Systems—Specific
- D. Control Objectives for Information and Related Technology (COBIT)
- E. IT Risks and Internal Control
- F. Flowcharting
- KEY TERMS
- Multiple-Choice Questions (1–149)
- Multiple-Choice Answers and Explanations
- Written Communication Task
- Written Communication Task Solution
- Module 42: Economics, Strategy, and Globalization
- MICROECONOMICS
- A. Focus
- B. Demand
- C. Supply
- D. Market Equilibrium
- E. Costs of Production
- F. Production
- G. Market Structure
- MACROECONOMICS
- A. Focus
- B. Aggregate Demand and Supply
- C. Business Cycles
- D. Economic Measures
- E. Monetary Policy
- F. Fiscal Policy
- G. Economic Theories
- H. The Global Economy and International Trade
- I. Foreign Exchange Rates
- J. Foreign Investment
- THE EFFECTS OF THE GLOBAL ECONOMIC ENVIRONMENT ON STRATEGY
- A. The general environment includes the following factors:
- C. Industry Analysis
- D. Strategic Planning
- E. Estimating the Effects of Economic Changes
- KEY TERMS
- Multiple-Choice Questions (1–126)
- Multiple-Choice Answers and Explanations
- Written Communication Task
- Written Communication Task solution
- Module 43: Financial Risk Management and Capital Budgeting
- A. Risk and Return
- B. Return on a Single Asset
- C. Portfolio Returns and Risk
- D. Interest Rates
- DERIVATIVES AND HEDGING
- A. The Nature of Derivatives
- B. Risks in Using Derivatives
- C. Uses of Derivatives
- D. Financial Statement Effects of Derivative Transactions
- E. Hedging Examples
- PRESENT VALUE
- A. The Time Value of Money
- B. Valuation of Bonds
- CAPITAL BUDGETING
- A. Stages
- B. Payback and Discounted Payback
- C. Accounting Rate of Return
- D. Net Present Value
- E. Internal Rate of Return
- F. Mutually Exclusive Projects
- G. Determining Future Cash Flows
- H. Considering Risk in Capital Budgeting
- KEY TERMS
- Multiple-Choice Questions (1–85)
- Multiple-Choice Answers and Explanations
- Written Communication Task
- Written Communication Task Solution
- Module 44: Financial Management
- Module 45: Performance Measures and Management Techniques
- A. Financial and Nonfinancial Performance Measures
- B. Balanced Scorecard and Performance Measures
- C. Value-Based Management (VBM) and Financial Performance Measures
- D. Choosing among Different Performance Measures
- E. Traditional Financial Statement Analysis
- F. Benchmarking and Best Practices
- G. Quality Control Principles and Tools
- H. Cost of Quality
- I. Business Process Management
- J. Project Management
- KEY TERMS
- Multiple-Choice Questions (1–76)
- Multiple-Choice Answers and Explanations
- Written Communication Tasks
- Written Communication Task Solutions
- Module 46: Cost Measurement and Assignment
- A. Cost of Goods Manufactured
- B. Cost Flows
- C. Job-Order Costing
- D. Accounting for Overhead
- E. Disposition of Under- and Overapplied Overhead
- F. Service Department Cost Allocation
- G. Process Costing
- H. Hybrid-Costing System
- I. Backflush Costing
- J. Activity-Based Costing
- K. Joint Products
- L. By-Products
- M. Estimating Cost Functions
- N. Variable (Direct) and Absorption (Full) Costing
- KEY TERMS
- Multiple-Choice Questions (1–62)
- Multiple-Choice Answers and Explanations
- Written Communication Task
- Written Communication Task Solution
- Module 47: Planning, Control, and Analysis
- A. Cost-Volume-Profit (CVP) Analysis
- B. Financial Planning
- C. Budgeting
- D. Forecasting Methods
- E. Flexible Budgets
- F. Responsibility Accounting
- G. Segmented Reporting and Controllability
- H. Standards and Variances
- I. Product and Service Pricing
- J. Transfer Pricing
- K. Short-Term Differential Cost Analysis
- KEY TERMS
- Multiple-Choice Questions (1–78)
- Multiple-Choice Answers and Explanations
- Written Communication Task
- Written Communication Task Solution
- APPENDICES
- Index