Audit, Reporting, and Exam Readiness

This unit integrates audit planning, evidence assessment, internal control, and financial reporting topics with taxation, professional responsibilities, and CPA exam preparation. Students will apply technical accounting and auditing concepts (e.g., inventory, receivables, fixed assets, contracts, not-for-profits) while practicing exam strategies and mastery of tax formats and regulatory considerations.

Learning Objectives

• Analyze engagement planning decisions, audit evidence, and internal control findings to form appropriate conclusions for audits and review engagements, including considerations for contracts and not-for-profit entities
• Apply accounting policies and reporting standards to prepare and evaluate financial statement elements such as multi-step income statements, inventory, fixed assets, commercial paper, receivables, and related disclosures, identifying inconsistent application of policy
• Demonstrate computation and interpretation of key financial ratios (inventory turnover, receivable turnover) and use those analyses to assess debtor-creditor relationships, liquidity, and reporting implications
• Evaluate taxation and professional responsibility issues relevant to practice and the CPA exam — including Form 1040 format, types of taxation, employment regulation, and test-day procedures — and integrate effective exam strategies