CPAnet Forum: Income Statement and Balance Sheet

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Topic: Income Statement and Balance Sheet (

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soniashah71
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Regular

Joined: 06 Jan 2010
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Posts: 139

Posted: 05 Mar 2010 at 09:32 \| IP Logged

Hello,

Can someone please tell me if you have to do I/S and B/S on the exam from scratch?

Thanks

SoonerCPA
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Regular

Joined: 25 Feb 2010
Location: United States
Online Status: Offline
Posts: 159

Posted: 05 Mar 2010 at 10:48 \| IP Logged

Haven't taken the test but I've heard that the different income statements can end up as simulations. Becker suggests learning them inside and out. (Which to me means be able to reproduce one)

suprarx707
Contributor

Joined: 16 Oct 2009
Location: United States
Online Status: Offline
Posts: 64

Posted: 05 Mar 2010 at 13:11 \| IP Logged

Yes, it may show up in the simulations in which you have to produce either a multiple or direct I/S, given a trial balance (This is the worst-case scenario)

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