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venus girl
Major Contributor

Joined: 29 Apr 2009
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Posts: 321

Posted: 26 Jan 2010 at 03:10 \| IP Logged

Forgive me if this is an obvious question, but we only need to memorize the standard report of an issuer, correct? We don't need to worry about non-issuer reports?

wildgirl1979
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Joined: 10 Aug 2009
Location: United States
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Posts: 1506

Posted: 26 Jan 2010 at 11:34 \| IP Logged

I say 4 reports. Standard, Review, Comp and Public report. It really help you be able to answer a lot of questions.

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cpaexamscore74
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Joined: 23 Nov 2009
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Posts: 11

Posted: 31 Jan 2010 at 01:25 \| IP Logged

Wow, people are really divided between memorizing the reports or not. I'm going to memorize standard report but that's about it. For Compilations and Review reports I use mnemonic.

For Compilation: CARD ( remember Compilations are small enough to fit on a small CARD)

Compiled

AICPA

Representation of management

Disclaimer or opion

Review-FAMILIAR

Financials statement are being reviewed

AICPA standards

Management representation

Inquiry and analytical procedures

Less in scope than audit

Incapable of opinion

Assurance provided

Refer to GAAP

I hope it helps!

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canson16
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Joined: 04 Jan 2010
Location: United States
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Posts: 48

Posted: 01 Feb 2010 at 12:44 \| IP Logged

Does anyone have the exact locations of the 3 reports to be memorized in the vecker review ? I am getting confused with which ones to memorise !with all the variations

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mavlicka
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Joined: 21 Jan 2010
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Posts: 9

Posted: 09 Mar 2010 at 21:21 \| IP Logged

To muchawaitedCPA:

I can't seem to access your spreadsheet. Could you post it
one more time

Thanks a bunch,
M

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