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Author Question: One of the bases other than GAAP or IFRS is the Financial reporting framework for small- and ... (Read 81 times)

Lin Shi

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on: Aug 21, 2022

Question 1

Clients occasionally enter into loan agreements that require them to provide the ________ with a report from a CPA about the existence or nonexistence of some condition.
◦ underwriters of securities
◦ audit committee
◦ lender
◦ Securities and Exchange Commission

Question 2

One of the bases other than GAAP or IFRS is the Financial reporting framework for small- and medium-sized businesses. This basis
◦ has not yet been approved by the AICPA.
◦ is the same as the income tax basis.
◦ draws upon a blend of traditional accounting principles and accrual income tax methods of accounting.
◦ must be used by a business with sales under $1 million.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by Lin Shi on Aug 21, 2022

queenBea90

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Reply #1 on: Aug 21, 2022
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Lin Shi

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Reply 2 on: Aug 21, 2022
Wow, this really help

laurnthompson

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Reply 3 on: Yesterday
Excellent

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