Accounting FAQ

Check out the pages in here for commonly asked Accounting FAQ. Due to the technical nature of accounting, there will be various questions that will be listed here in a range of topics.

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Accounting Terms

Journal Entries for various financial lines

Job Descriptions vs Responsibilities
Accounting Job Search Tips
Finding Perfect Career in Accounting



All previous are overridden by SSAE 10

SSAE 10 - Reporting on Pro Forma Financial Information, Compliance Attestation, Management’s Discussion and Analysis
This section provides guidance applicable to practitioners issuing examination or review reports on pro forma information.
Covers entity’s compliance with laws and regulations.
Covers MD&A for SEC clients.

SSAE 11 - Attest Documentation, Agreed-Upon Procedures Engagements, Financial Forecasts and Projections
Amends SSAE 10

SSAE 12 - Amendment to Statement on Standards for Attestation Engagement No. 10, Attestation

SSAE 13 - Defining Professional Requirements in Statements on Standards for Attestation Engagements

SSAE 14 - SSAE Hierarchy, Attest Engagements
Amends SSAE 10
Lays out general attest standards for review of reports

SSAE 15 - An Examination of an Entity’s Internal Control Over Financial Reporting That Is Integrated With an Audit of Its Financial Statements
Design and Operating Effectiveness of Internal Controls

SSAE 16 - Reporting on Controls at a Service Organization
Service Organizations, replaces SAS 70

SSAE 17 - Reporting on Compiled Prospective Financial Statements When the Practitioner’s Independence Is Impaired

SAS Guide - Guide to the Statements on Auditing Standards

Beta Alpha Psi

The below relate to IFRS and are further expanded upon at

Preface to International Financial Reporting Interpretations (Updated to January 2006
IFRIC 8 Scope of IFRS 2 (Issued February 2006)—has been eliminated with Amendments issued to IFRS 2
IFRIC 11 IFRS 2-Group and Treasury Share Transactions (Issued November 2006)—has been eliminated with Amendments issued to IFRS 2

SIC 7 Introduction of the Euro (Updated to January 2006)
SIC 10 Government Assistance-No Specific Relation to Operating Activities (Updated to January 2006)
SIC 12 Consolidation-Special Purpose Entities (Updated to January 2006)
SIC 13 Jointly Controlled Entities-Non-Monetary Contributions by Venturers (Updated to January 2006)
SIC 15 Operating Leases-Incentives (Updated to January 2006)
SIC 21 Income Taxes-Recovery of Revalued Non-Depreciable Assets (Updated to January 2006)
SIC 25 Income Taxes-Changes in the Tax Status of an Entity or its Shareholders (Updated to January 2006)
SIC 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease (Updated to January 2006)
SIC 29 Disclosure-Service Concession Arrangements (Updated to January 2006)
SIC 31 Revenue-Barter Transactions Involving Advertising Services (Updated to January 2006)
SIC 32 Intangible Assets-Web Site Costs (Updated to January 2006)
SIC 33 Consolidation and equity method - Potential voting rights and allocation of ownership interests

History of Accounting Firms
History of Accountants

PCAOB Auditing Standards
Research at:

PCAOB AS No. 1: References in Auditors’ Reports to the Standards of the Public Company Accounting Oversight Board
PCAOB AS No. 3: Audit Documentation
PCAOB AS No. 4: Reporting on Whether a Previously Reported Material Weakness Continues to Exist
PCAOB AS No. 5: An Audit of Internal Control Over Financial Reporting That Is Integrated with An Audit of Financial Statements
PCAOB AS No. 6: Evaluating Consistency of Financial Statements
PCAOB AS No. 7: Engagement Quality Review
PCAOB AS No. 8: Audit Risk
PCAOB AS No. 9: Audit Planning
PCAOB AS No. 10: Supervision of the Audit Engagement
PCAOB AS No. 11: Consideration of Materiality in Planning and Performing an Audit
PCAOB AS No. 12: Identifying and Assessing Risks of Material Misstatement
PCAOB AS No. 13: The Auditor’s Responses to the Risks of Material Misstatement
PCAOB AS No. 14: Evaluating Audit Results
PCAOB AS No. 15: Audit Evidence


There are some interim standards there too (AU 110 - 901, worth bringing in?)

Perhaps some tool to convert GAAP to IFRS, similar to a checklist

Accrued Interest Payable vs. Interest Expense
Accounting Videos

Present Value Tables
Future Value Tables

“Accountant Executive Biography” directory

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