All About RSM
What are the three Professional Services RSM Provides?
Audit / Tax / Consulting
Which f/s reports Salary Expenses?
Income Statement
What is an asset?
Something you own
Forensic Accountant
What are the 3 parts of the fraud triangle?
Pressure, opportunity, rationalization
RSM US is the largest provider of services to what?
The Middle Market
Which f/s reports Equipment?
Balance Sheet
What is revenue minus expenses called?
Net income
The CPA exam has how many sections?
4
What is it called when a person has a reason or need to commit fraud?
Pressure
What is the name of one of the programs RSM offers to rising professionals?
Excellence Academy - Freshman
RSM Pathways - Sophomore
Internship - Junior
Webinars - Triangle
Statement of Cash Flows
What is EPS?
Earnings per share
Name the two required accounting courses all business majors have to take in college.
Intro to financial accounting and intro to managerial accounting
What are internal controls?
Policies and procedures to prevent and detect errors
How many dollars did RSM spend on AI in 2025
1 Billion
A company has $5,000 in revenue. Net income is $1,500. How much are expenses?
$3,500
What is the accounting equation?
Assets = Liabilities + Owner's Equity
What type of accountant verifies a company's financial statements?
Auditor (external)
What is it called when a person has the ability to commit a fraud?
Opportunity
How many dollars did RSM make last year?
4.0 Billion in the US.
Name the main 3 parts of an income statement.
Revenues, expenses, and net income (profit)
Why are public companies audited?
It's required by the SEC to be listed on the stock exchange.
Who audits the auditors?
PCAOB
What part of the fraud triangle occurs when someone convinces themselves that dishonest behavior is acceptable?
Rationalization