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kibs809
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| Posted: 14 Aug 2010 at 14:58 | IP Logged
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Is category A usually the only hierarchy information tested on the CPA? I
have Kaplan materials and the hierarchy is not mentioned once in their
video classes. Only in the book in a Misc. chapter. I figured I'll memorize
the Becker BOSSII above but should I worry about the other categories as well
lower in the hierarchy?
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sabah109
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| Posted: 14 Aug 2010 at 15:39 | IP Logged
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I would at least a few of them:
Second floor:
And AICPA Statement of position
AICPA industry and Audit Guides
Technical bulletins
Fifth floor:
FASB CONCEPTS - least authoritative.
__________________
BEC - 79
REG - 92
FAR - 87
AUD - Nov 13
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cpa0123
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| Posted: 14 Aug 2010 at 19:33 | IP Logged
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You should be very familiar with atleast A & B categories. For B category, I made a small mnemonic that helped me remember:
T - Technical Bulletins (FASB)
I - Industry and Audit guides (AICPA)
S - Statements of Position (AICPA)
Also be very careful not to pick wrong answers that contains options such as 'AICPA' Staff positions or 'AICPA' Interpretations as being authoritative. You should be able to know which one's issued by FASB or AICPA. So I would recommend you knowing it this way -
...B...-...O...-...S...-..S..-...I...-...I...-----..T...-... .I...-...S...
AICPA-AICPA-FASB-FASB-FASB-FASB-----FASB-AICPA-AICPA
__________________
FAR-11/21/09 [97]
REG-02/06/10 [95]
BEC-04/03/10 [85]
AUD-07/07/10 [93]
Colorado board
I am done!
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nipson
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| Posted: 14 Aug 2010 at 22:45 | IP Logged
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I doubt they test us on the hierarchy considering that it has been eliminated with the introduction of the Codification.
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Topic: Hierarchy of Sources of GAAP
Topic Closed)
