ACRONYMS
WP, (USED PRIMARILY IN QC NOTES.)
WHAT IS AN ACRONYM FOR WORKPAPER?
THIS IS NOT AN ACCEPTABLE ASSET DESCRIPTION.
WHAT IS EQUIPMENT OR FURNITURE?
EACH OF THESE SHOULD STAND ALONE.
THIS IS THE DOCUMENT THAT I WOULD USE TO DETERMINE IF RETAINED EARNINGS IS CORRECT.
WHAT IS THE PRIOR YEAR TAX RETURN?
WHAT ARE THE NUMBER OF TABS ON THE YEAR-END ACCOUNTING FOR TAX CHECKLIST?
WHAT IS 3?
IRS
WHAT IS AN ACRONYM FOR INTERNAL REVENUE SERVICE?
THIS IS THE BEST SOURCE TO REFERENCE WHEN LOOKING FOR THE CORRECT DEPRECIATION METHOD.
WHAT IS THE MASTER DEPRECIATION GUIDE?
THESE ACCOUNTS ARE TIED TO SUPPORTING DOCUMENTATION IF THEY ARE MATERIAL?
WHAT ARE BALANCE SHEET ACCOUNTS?
WHEN WORKING IN A QUICKBOOKS ENVIRONMENT, I SHOULD DOUBLE CHECK THIS IF ALL MY PRIOR YEAR NUMBERS ARE OFF.
WHAT IS CHECK TO SEE IF THE BALANCE SHEET WAS RUN CASH INSTEAD OF ACCRUAL OR VICE VERSA?
NAME THE SOFTWARE WE USED TO PREPARE AMORTIZATION SCHEDULES.
WHAT IS T-VALUE?
WHAT IS AN ACRONYM FOR INTERNAL REVENUE CODE?
WHEN ELECTING OUT OF BONUS DEPRECIATION YOU MUST DO SO BY __________?
WHAT IS CLASS?
THESE ACCOUNTS ARE COMPARED TO PRIOR YEAR TO LOOK FOR UNUSUAL VARIANCES?
WHAT ARE INCOME STATEMENT ACCOUNTS?
BEFORE STARTING ALMOST ANY PROJECT, WHERE IS THE FIRST PLACE YOU SHOULD BE LOOKING?
MACRS
WHAT IS AN ACRONYM FOR MODIFIED ACCELERATED COST RECOVERY SYSTEM?
THIS IS THE IRC CODE FOR TANGIBLE PERSONAL PROPERTY.
THE REQUIREMENTS IN ET 1.295 OF THE AICPA CODE OF PROFESSIONAL CONDUCT MUST BE MET FOR THESE SERVICES.
WHAT ARE ATTEST SERVICES?
WHAT IS ON OR BEFORE THE FOLLOWING WEDNESDAY? (PROVIDED YOU DIDN'T GO OVER THE $100,000.00 PER DAY LIMIT?)