Acquisition Related Cost | Business Combination | CPA Exam Questions | Advanced Accounting

This video covers practice CPA questions that cover acquisition related cost and direct issue costs of equity, Acquisition related costs such as finder’s fee, professional fees, consulting fees and general administrative cost that are expended as incurred. Direct issue costs of equity such as underwritingac, legal, accounting, tax, securities registration reduce paid in capital. This […]

Interfund Activity | Reciprocal and Non reciprocal interfund | CPA Exam | Governmental Accounting

Reporting Interfund Activity GAAP establishes two broad classes of interfund activity: Reciprocal interfund activity Nonreciprocal interfund activity Interfund activity within and among the governmental, proprietary and fiduciary fund categories is classified and reported as described below. Reciprocal Interfund Activity Reciprocal interfund activity is the interfund counterpart to exchange and exchange-like transactions and includes: Interfund loans […]

Governmental Funds Reporting | Governmental Accounting | CPA Exam Questions FAR Part 2 of 2

This video discusses CPA questions that cover the reporting requirements for governments funds (General Fund, Debt Service fund, Capital Project, Permeant Funds and Fiduciary Funds) and enterprise funds (proprietary funds and Internal service) as well as elements the funds such as expenditures, others financing uses, other finances sources and the terminology used for fund financial […]