Grassi
LIST THE 8 LOCATIONS OF ALL OF THE GRASSI & CO. OFFICES
1.Jericho, NY
2.New York, NY
3.Ronkonkoma, NY
4.White Plains, NY
5.Park Ridge, NJ
6. Chelmsford, MA
7.Needham, MA
8.Palm Beach, FL
WHAT DO AUDITORS SEND TO VERIFY SIGNIFICANT ACCOUNT BALANCES?
Confirmations
***Who are they sent to?***
A SUMMARIZATION TOOL THAT ALLOWS USERS TO AUTOMATICALLY SORT, COUNT, AND TOTAL DATA STORED IN A TABLE OR SPREADSHEET
PIVOT TABLE
WHAT ARE THE FOUR FINANCIAL STATEMENTS
1.Balance Sheet
2.Statement of Income
3.Statement of Stockholders’ Equity
4.Statement of Cash Flows
NAME TWO SOFTWARE/PROGRAMS THAT THE AUDIT PRACTICE USES
1. Engagement
2. Excel
3. DataSnipper
NAME THE 9 LEVELS/TITLES OF PROFESSIONAL STAFF
1.Intern
2.Associate
3.Semi-Senior
4.Senior
5.Supervisor
6.Manager
7.Senior Manager/Director
8.Principal
9.Partner
WHAT ARE THE THREE STANDARD WORKPAPERS INSIDE THE CASH SECTION OF THE BINDER?
1.Cash Lead Sheet
2.Cash Audit Program
3.Cash Memo
WHAT FORMULA COMBINES A LIST OR RANGE OF TEXT STRINGS?
=CONCAT(
WHAT ARE EXAMPLES OF USERS OF THE FINANCIAL STATEMENTS?
1.Investors
2.Internal employees (President/CEO/CFO)
3.Board of Directors
4.Financial Institutions (i.e. banks)
5.Government
NAME THE PARTS OF THE CPA EXAM (3 core sections and three discipline sections)
Core sections:
-FAR – Financial Accounting & Reporting
-AUD – Auditing & Attestation
-REG – Taxation & Regulation
Discipline sections:
-Business Analysis and Reporting (BAR)
-Information Systems and Control (ISC)
-Tax Compliance and Planning (TCP)
NAME 5 INDUSTRIES WE WORK IN
1.Cannabis
2.Construction/A&E
3.Energy & Utilities
4.Financial Services
5.Healthcare
6.Manufacturing & Distribution
7.Not-For-Profit
8.Real Estate
9.Sports & Entertainment
10.Transportation & Shipping
DEFINE THE FOLLOWING:
-Held checks
-Deposits in transit
-Outstanding checks
Held Checks: any check that is written against the Company’s accounts but has not yet been provided to a third-party
Deposit in transit: cash and checks that have been received and recorded by an entity, but which have not yet been recorded in the records of the bank where the funds are deposited
Outstanding check: a check that has been written, but it hasn't been cashed-deposited by the bank, or otherwise cleared the bank. An outstanding check can be a personal or a business check.
NAME 5 EXCEL FORMULAS
SUM
COUNT
MIN
MAX
CONCAT
IF
SUMIF
COUNTIF
LEFT/RIGHT
PDIFF/DDIFF
XLOOKUP
VLOOKUP
IFERROR
TRIM
WHAT IS THE FIRST PART OF THE FINANCIAL STATEMENTS?
INDEPENDENT AUDITOR’S REPORT
WHAT ARE THE 5 MAIN AREAS ASSOCIATES WORK ON IN A BINDER
•Cash
•Fixed Assets
•Prepaid Assets
•Accounts Payable/Accrued Expenses
•G&A Analytics
NAME 5 SERVICES WE OFFER
1.Cyber and Information Security
2.Accounting Services
3.Assurance & Attest (Audit)
4.Business Advisory
5.Family Office & Concierge
6.Forensic, Litigation & Valuation Services
7.Grassi Consulting Services
8.Tax Compliance & Tax Consulting
9.Tax Controversy
10.Transactions & Due Diligence
11.Trust & Estate Services
NAME 3 RELEVANT ASSERTIONS FOR CASH
1. Cutoff (CO)
2. Accuracy or classification (A/CL)
3. Valuation
4. Existence or occurrence (E/O)
5. Completeness
6. Rights or obligations (R/O)
WHAT ARE THE INPUTS FOR AN XLOOKUP FORMULA
•Searches a range and returns the item corresponding to the first match it finds
=XLOOKUP(lookup_value, lookup_array, return_array, [if_not_found], [match_mode], [search_mode])
•Lookup_value: the value to search for
•Lookup_array: the range to search
•Return_array: the range to return
•[if_not_found]: where a valid match is not found, return the text you supply (use zero (0) for this field)
NAME THE 3 SECTIONS OF THE STATEMENT OF CASH FLOWS
-OPERATING
-INVESTING
-FINANCING
WHAT IS THE BASIC ACCOUNTING FORMULA
ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY