Tax Tidbits
The government body that monitors tax regulations/rules and filed tax returns.
What is the Internal Revenue Service (IRS)?
This financial statement reports the revenues and expenses for a period of time such as a year or a month
What is an income statement?
This is the minimum passing score on each section of the CPA exam.
What is 75?
Who is Tracy Noga?
Located in Orlando, Florida, this facility is considered KPMG's cultural home and is open to professionals for training and development.
This date is the deadline for corporations to file their tax returns.
What is April 15th?
These are types of prospective financial statements upon which an accountant may appropriately report for general use.
What are financial forecasts?
The number of hours for each section of the CPA Exam
What is four?
This is the platform where you can see jobs promoted specifically to Bentley students, employer events, and message with recruiters.
What is Handshake?
He's our current Chair and CEO, and he visited Bentley this past October
Two methods individuals can use to claim deductions on their tax returns.
What is a standard deduction or itemized deduction?
The risk that the auditor will provide an unqualified (clean) opinion on financial statements that are in fact materially misstated.
What is audit risk?
This organization is responsible for developing, maintaining, and scoring the CPA exam
What is the American Institute of Certified Public Accountants (AICPA)?
This is the job placement rate for Bentley Accounting majors. (+/- 5 percentage points)
100%
The three client-facing practices that make up KPMG
Audit, Tax, Advisory
Rules and regulations explaining how taxes are calculated and reported
What is the Internal Revenue Code?
This individual examines the financial statements of an organization and provide an independent opinion on whether they are presented fairly in all material respects.
Who is an external auditor?
There are three discipline exams you can choose from. They are listed here, and one does not belong:
Business Analysis and Reporting (BAR)
Ethics and Compliance Standards (ECS)
Information Systems and Controls (ISC)
Tax Compliance and Planning (TCP)
What is Ethics and Compliance Standards (ECS)?
This program allows accounting students to earn a BS and MSA in as few as four years.
What is the Advanced Standing in Accounting program?
The number of days KPMG provides to full-time employees for Paid Time Off per year in addition to 2 full shutdown weeks (one in July, one in December)
a) 20
b) 22
c) 25
d) unlimited
What is unlimited PTO?
These structures allow a business to limit personal liability while still having the tax benefits of pass through taxation
What is LLC & S Corp?
Regulates the audits of public companies and SEC-registered brokers and dealers to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports
What is the PCAOB?
The three core sections of the CPA exam (full names!)
Auditing and Attestation (AUD)
Financial Accounting and Reporting (FAR)
Taxation and Regulation (REG)
This program will provide students access to free professional attire appropriate for career fairs, interviews, networking events, classroom presentations and the workplace.
What is the Career Closet? (Located in the PCDC)
KPMG has clients around the globe. Of the Global Fortune 500, what percent does KPMG service in some way?
(+/- 5 percentage points)
What is 84%