- Discuss four different aspects of a decision that a business should evaluate in order to maximize profits and be a good corporate citizen.
- How does a CPA’s need for independence differ from that of other professions?
- Differentiate between a cost center and a profit center.
- A CPA can be sued for a variety of wrongful acts involving personal professional acts. Name a few.
- Discuss the legal liability an accounting professional has, including how a CPA is protected.
- “Substance over time is a recipe for failing to achieve comparability between accounting statements of different businesses.” Discuss.
- List and discuss some limitations of the International Financial Reporting Standards (IFRS). What organization(s) is responsible for creating and enforcing the IFRS?
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