PROFESSIONAL EXAMINATIONS.
The article focuses on various problems of professional examinations in accounting. 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 Certified Public Accountants examination in accounting practice on May 13, 1954. The candidates were required to solve all problems in four and a half hours. The total weight assigned to the three problems is 50 points. Weights were not assigned to the individual problems but a suggested time for each problem was given. In one of the problems details of a hypothetical company, Reese Extract Company which produces flavoring extracts and spices for food products has been given. The Company has been successfully operated for many years and carries an extensive line, but vanilla extract is its major product. The details of periodic inventories and other financial details has been given. The examinees are required to prepare manufacturing statement showing costs, units, and prices by processes and computations showing the rebate to be claimed from the federal government for the period and the amount of deferable tax applicable to the inventories which have not gone to the packaging department.
- DOI
- 10.2308/tar-7057747
- Volume
- 29 (4)
- Pages
- 693-700
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref