PROFESSIONAL EXAMINATIONS: ACCOUNTING PRACTICE.
The article presents some problems on accountancy, which were prepared by the Board of Examiners of the American Institute of Certified Public Accountants (CPA) and were presented as the second half of the CPA examination in accounting practice on November 7, 1963. Candidates were required to solve problems 1 through 4 and either 5 or 6. The suggested time allowances for each problem are also given in the article. In one question, details of a hypothetical company, the Jarman Corp., which adopted a pension plan for its employees on January 1, 1961, are provided. A trial balance of records of the plan at December 31, 1962 and provisions of the plan are also given in the article. The examinee is required to prepare a schedule, computing the corporation's contribution to the plan for 1962, prepare a schedule computing the vested interests of participants terminating their employment during 1962, prepare a schedule showing the allocation of the corporation's 1962 contribution to each participant and to prepare a schedule showing the allocation of the plan's 1962 income on investments and forfeitures by terminated participants.
- DOI
- 10.2308/tar-7107223
- Volume
- 39 (2)
- Pages
- 487-499
- Language
- en
- Export
- BibTeX
- Sources
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