The Accounting Review Vol. 30 No. 4 1955
PROFESSIONAL EXAMINATIONS.
Abstract
This article presents questions related to accounting and finance, that are of importance to students of the Certified Public Accountants (CPA) course. The following problems were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the CPA Examination in accounting practice on May 19, 1955. The total weight assigned to this section of the examination was 50 points and the examiners point out that the suggested time allowances for each problem are closely proportional to the point values of the various problems. Each question has been assigned a time limit. Questions include preparation of journal entries for financial transactions, preparation of product warranty balances and estimation of insurance claims. There are also questions asking the examinee to criticize the system of overheads applied to direct labor cost by a heavy equipment manufacturing company; and another one demanding the preparation of a statement of cost for a steel company involving the value and composition of inventory of the company from given data.
- DOI
- 10.2308/tar-7061967
- Volume
- 30
- Issue
- 4
- Pages
- 706-715
- Language
- en
- Sources
- openalex crossref