My Accounts
Back to Course

BAR Becker Business Analysis and Reporting Supplemental Course

0% Complete
0/0 Steps

  1. WELCOME! PLEASE START HERE.

    1. Welcome to Farhat Lectures
  2. 2. How to Use This Course & Resources
  3. 3. Choosing the Right CPA Discipline
  4. 4. CPA Exam Study Tips & Common Questions
  5. 🚀Introduce Yourself
    1 Topic
  6. 🚨🚨🚨2026 AICPA Released Questions
    1 Topic
  7. B1:M1: ENTERPRISE RISK MANAGEMENT FRAMEWORK
    📖Governance & Culture ERM
    2 Topics
  8. 📖Strategy & Objective Setting ERM
    2 Topics
  9. 📖Performance & Risk Severity
    2 Topics
  10. 📖Risk Review (ERM)
    2 Topics
  11. 📖Information, Communication & Reporting (ERM)
    2 Topics
    |
    1 Quiz
  12. 📖Application Of ERM Into ESG
    2 Topics
    |
    1 Quiz
  13. 🎯AICPA Questions Enterprise Risk Management Framework ERM
    1 Quiz
  14. 🚨🚨HOW TO SOLVE SIMULATIONS (TUTORIAL + VIDEO EXAMPLES)
    ✅ BAR CPA Exam Simulation Tutorial + Previously Released AICPA MCQs and Sims
    10 Topics
    |
    2 Quizzes
  15. B1:M2: FINANCIAL RISK MANAGEMENT
    📖Trade-Offs Between Risk & Return
    2 Topics
  16. 📖Financial Risks
    2 Topics
    |
    1 Quiz
  17. 📖Systematic & Unsystematic Risk
    2 Topics
    |
    1 Quiz
  18. 📖Time Value Of Money: Simple Vs. Compounding. APR Vs. EAR
    3 Topics
    |
    1 Quiz
  19. 📖Present Value Of Single Amount
    4 Topics
    |
    2 Quizzes
  20. 📖Present Value Of Annuity
    4 Topics
  21. 📖Future Value Of Annuity
    5 Topics
    |
    1 Quiz
  22. 📖Present Value Of Bond Computation & Deferred Annuity
    6 Topics
  23. 📖Target Costing
    2 Topics
  24. 📖Annual Percentage Rate APR Versus Effective Annual Rate APR
    1 Topic
  25. 📖Currency Exchange Rate Risk
    2 Topics
  26. 📖Mitigating Foreign Currency Exchange Rate Risk
    2 Topics
  27. B1:M3: MARKET INFLUENCES ON BUSINESS
    📖Law Of Demand
    2 Topics
    |
    1 Quiz
  28. 📖Law Of Supply
    2 Topics
    |
    1 Quiz
  29. 📖Market Equilibrium
    2 Topics
    |
    1 Quiz
  30. 📖Price Elasticity Of Demand
    2 Topics
  31. 📖Price Elasticity Of Supply
    2 Topics
    |
    1 Quiz
  32. 📖Cross Elasticity
    2 Topics
  33. 📖Income Elasticity On Demand
    2 Topics
    |
    1 Quiz
  34. 📖Inflation & Equity Investments
    2 Topics
  35. 📖Inflation & Debt Investments
    2 Topics
    |
    1 Quiz
  36. 📖Michael Porter Competitive Strategies
    2 Topics
    |
    1 Quiz
  37. 📖Porter's Five Forces
    2 Topics
    |
    1 Quiz
  38. 📖SWOT Analysis
    2 Topics
    |
    1 Quiz
  39. B1:M4: INTERNATIONAL BUSINESS OPERATIONS
    📖Introduction To International Trade
    2 Topics
    |
    1 Quiz
  40. 📖Structuring International Operations
    2 Topics
    |
    1 Quiz
  41. 📖Exchange & Economic Risks In International Operations
    2 Topics
    |
    1 Quiz
  42. 📖Influences On International Operations
    2 Topics
    |
    1 Quiz
  43. B1:M5: THE ECONOMIC EFFECT OF SIGNIFICANT TRANSACTIONS
    📖Mergers & Acquisitions Horizontal Vs. Vertical Integration Vs. Circular
    2 Topics
    |
    1 Quiz
  44. 📖Divestitures: Spin-Off, Equity Carve Out & Sale Of Assets/Subsidiaries
    2 Topics
    |
    1 Quiz
  45. 🎯AICPA Previously Released Economics Questions
    3 Quizzes
  46. B2:M1: CAPITAL STRUCTURE
    📖Capital Structure Components
    2 Topics
    |
    1 Quiz
  47. 📖Cost Of Debt & Cost Of Preferred Stock
    2 Topics
    |
    1 Quiz
  48. 📖Capital Asset Pricing Model
    2 Topics
  49. 📖Cost Of Retained Earnings
    2 Topics
  50. 📖Bond Yield & Risk Premium (BYRP)
    2 Topics
    |
    1 Quiz
  51. 📖Weighted Average Cost Of Capital WACC
    2 Topics
    |
    1 Quiz
  52. 📖Optimal Capital Structure
    2 Topics
  53. 📖Growth & Profitability
    2 Topics
    |
    1 Quiz
  54. 📖Return On Investment (ROI)
    4 Topics
    |
    1 Quiz
  55. 📖Degree Of Operating Leverage (DOL)
    3 Topics
    |
    1 Quiz
  56. 📖Financial Leverage
    2 Topics
  57. 🎯AICPA Questions: Capital Structure
    1 Quiz
  58. B2:M2: WORKING CAPITAL MANAGEMENT
    📖Cash & Receivables
    2 Topics
    |
    1 Quiz
  59. 📖Pledging Receivables
    4 Topics
  60. 📖Selling (Factoring) Receivables
    2 Topics
    |
    2 Quizzes
  61. 📖Economic Order Quantity
    2 Topics
  62. 📖Reorder Point & Safety Stock
    2 Topics
  63. 📖Just In Time Management
    2 Topics
    |
    1 Quiz
  64. 📖Accounts Payable Management
    2 Topics
    |
    2 Quizzes
  65. 📖Letter Of Credit
    2 Topics
  66. 📖Short Term Versus Long Term Financing
    2 Topics
  67. 🎯AICPA Previously Released Questions: Working Capital Management
    2 Quizzes
  68. B2:M3: FINANCIAL VALUATION METHODS
    📖What Is Free Cash Flow Equity Valuation?
    2 Topics
  69. 📖Common Stock Valuation: Zero Growth
    2 Topics
  70. 📖Common Stock Valuation: Constant Growth
    2 Topics
    |
    1 Quiz
  71. 📖Components Of Required Rate Of Return
    2 Topics
    |
    1 Quiz
  72. 📖Stock Valuation Using Multiples
    2 Topics
    |
    1 Quiz
  73. 📖Basics Of Stock Options. Calls & Puts
    2 Topics
  74. 📖Bonds & Bond Valuation
    5 Topics
  75. 📖Valuation Using Accounting Estimates
    2 Topics
    |
    1 Quiz
  76. 📖Residual Income
    5 Topics
    |
    1 Quiz
  77. 📖Fair Value Measurements
    2 Topics
  78. 📖Fair Value Of Financial Assets/Liabilities
    2 Topics
  79. 📖Fair Value Of Nonfinancial Assets
    2 Topics
  80. 🎯 AICPA Questions : Financial Valuation Methods
    1 Quiz
  81. B2:M4: FINANCIAL DECISION MODELS
    📖Time Value Of Money For Capital Budgeting
    7 Topics
    |
    1 Quiz
  82. 📖What Is Capital Budgeting?
    2 Topics
    |
    1 Quiz
  83. 📖Net Present Value (NPV)
    5 Topics
    |
    1 Quiz
  84. 📖Depreciation Tax Shield Explained
    2 Topics
  85. 📖Internal Rate Of Return IRR
    6 Topics
  86. 📖Payback & Discounted Payback Period
    5 Topics
  87. 📖Accounting Rate Of Return ARR & Average Accounting Return AAR
    3 Topics
  88. 📖Profitability Index PI
    6 Topics
  89. 📖Buy Versus Lease NPV
    2 Topics
  90. 📖Economic Value Added (EVA)
    2 Topics
  91. 🎯Comprehensive Test: Capital Budgeting + AICPA Previously Released Questions
    2 Quizzes
  92. B2:M5: MARGINAL ANALYSIS
    📖Relevant & Irrelevant Costs
    3 Topics
    |
    2 Quizzes
  93. 📖Add Or Drop A Segment
    5 Topics
    |
    1 Quiz
  94. 📖Make Or Buy Component Analysis
    5 Topics
    |
    1 Quiz
  95. 📖Accepting Or Rejecting Special Order
    4 Topics
    |
    1 Quiz
  96. 📖Utilization Of A Constrained Resource
    3 Topics
    |
    1 Quiz
  97. 📖Sell Or Process Further Decisions
    5 Topics
    |
    1 Quiz
  98. 🎯Comprehensive Test: Marginal (differential) + Analysis + AICPA Previously Released Questions
    2 Quizzes
  99. B3:M1: COST ACCOUNTING
    📖Basic Cost Accounting Terms
    2 Topics
  100. 📖Three Basic Manufacturing Cost
    4 Topics
    |
    2 Quizzes
  101. 📖Product Cost vs Period Cost
    3 Topics
    |
    1 Quiz
  102. 📖Cost Behavior: Variable, Fixed & Mixed
    5 Topics
    |
    1 Quiz
  103. 📖Job Order Costing Explained + Predetermined Overhead Rate
    5 Topics
    |
    1 Quiz
  104. 📖Cost Flow In Job Order Costing
    5 Topics
  105. 📖Cost Of Goods Manufactured With Example
    4 Topics
  106. 📖Under-Applied & Over-Applied Overhead
    5 Topics
    |
    1 Quiz
  107. 📖Process Costing (Weighted Average)
    3 Topics
  108. 📖Process Costing (FIFO)
    9 Topics
    |
    2 Quizzes
  109. 📖Activity Based Costing
    11 Topics
    |
    2 Quizzes
  110. 📖Joint Product Costing & By-Product
    2 Topics
  111. 🎯Comprehensive Test for: Cost Accounting Concepts + Previously Released AICPA Questions : Complete After reviewing Farhat and Becker
    2 Quizzes
  112. 🎯Comprehensive ABC, Direct and Full (absorption) Costing : Complete After reviewing Farhat and Becker
    2 Quizzes
  113. B3:M2: PERFORMANCE MANAGEMENT
    📖Benchmarking
    2 Topics
  114. 📖The 4 Costs Of Quality
    4 Topics
    |
    1 Quiz
  115. 📖Control Charts
    2 Topics
  116. 📖Pareto Chart
    2 Topics
  117. 📖Fishbone
    2 Topics
  118. 📖Nonfinancial Measures
    2 Topics
    |
    1 Quiz
  119. 📖Non-GAAP Measures
    2 Topics
    |
    1 Quiz
  120. 📖Performance Measurements
    2 Topics
  121. 📖Balanced Scorecard
    5 Topics
    |
    1 Quiz
  122. 🎯Comprehensive test: Responsibility Accounting + Previously Released AICPA Questions: Complete After reviewing Farhat and Becker
    2 Quizzes
  123. B3:M3: PROJECTION & FORECASTING TECHNIQUES
    📖Projection Techniques
    2 Topics
  124. 📖Simple Regression
    2 Topics
    |
    1 Quiz
  125. 📖Estimating Fixed & Variable Cost - High Low
    4 Topics
    |
    1 Quiz
  126. 📖Cost Volume Profit Analysis
    2 Topics
  127. 📖Contribution Margin Ratio
    2 Topics
  128. 📖Cost Volume Profit Application
    6 Topics
    |
    1 Quiz
  129. 📖Absorption & Variable Costing
    9 Topics
    |
    3 Quizzes
  130. 📖Segmented Income Statement Traceable & Common Fixed Cost
    5 Topics
    |
    1 Quiz
  131. 📖Break-Even & Common Errors
    3 Topics
    |
    1 Quiz
  132. 📖Break Even Point & Target Profit
    3 Topics
    |
    1 Quiz
  133. 📖Target & Cost Volume Profit Analysis
    3 Topics
    |
    1 Quiz
  134. 📖Margin Of Safety
    3 Topics
    |
    1 Quiz
  135. 📖Cost Structure & Profit Stability
    3 Topics
  136. 📖Break-Even For Multi-Product
    4 Topics
    |
    1 Quiz
  137. 🎯AICPA Questions: Projection and Forecasting Techniques
    2 Quizzes
  138. 🎯Comprehensive Test: Cost Volume Profit Analysis + AICPA Practice Questions : Complete After reviewing Farhat and Becker
    2 Quizzes
  139. B3:M4: BUDGETING
    📖What Is A Budget & Role Of Budgets
    2 Topics
    |
    1 Quiz
  140. 📖Budgetary Process
    3 Topics
    |
    1 Quiz
  141. 📖Types Of Budgets
    2 Topics
    |
    1 Quiz
  142. 📖Zero Based Budgeting & Rolling Budget
    2 Topics
    |
    1 Quiz
  143. 📖Activity Based Budgeting
    2 Topics
    |
    1 Quiz
  144. 📖Master Budget & Related Schedules
    10 Topics
    |
    2 Quizzes
  145. 📖Production Budget
    6 Topics
    |
    1 Quiz
  146. 📖Flexible Budget & Performance Analysis
    7 Topics
    |
    2 Quizzes
  147. 🎯AICPA Questions: Budgeting
    2 Quizzes
  148. B3:M5: FINANCIAL STATEMENT ANALYSIS
    📖Introduction Of Financial Statement Analysis
    2 Topics
  149. 📖Vertical & Horizontal Analysis
    2 Topics
  150. 📖Liquidity Ratios
    2 Topics
  151. 📖Activity Ratios
    2 Topics
  152. 📖Solvency Ratios
    2 Topics
  153. 📖Profitability Ratios
    2 Topics
  154. 📖Market/Investor Ratios
    2 Topics
  155. 📖Comprehensive Practice Financial Statement Analysis
    5 Topics
  156. 📖Return On Equity (ROE)
    2 Topics
  157. 📖The Types Of Data & The 4 Vs
    2 Topics
    |
    1 Quiz
  158. 📖Data Visualization
    2 Topics
    |
    1 Quiz
  159. 📖The 4 Types Of Data Analytics: Descriptive, Diagnostics, Predictive & Prescriptive
    2 Topics
  160. 📖Data Transformation
    2 Topics
    |
    1 Quiz
  161. 📖Primary & Foreign Key
    3 Topics
    |
    1 Quiz
  162. 🎯Comprehensive Test Ratios: AICPA Questions
    2 Quizzes
  163. B3:M6: VARIANCE ANALYSIS
    📖Direct Material & Labor Variance Analysis
    6 Topics
    |
    2 Quizzes
  164. 📖Variable & Fixed Overhead Variances
    4 Topics
    |
    2 Quizzes
  165. 📖Variances Using Journal Entries
    6 Topics
  166. 🎯Comprehensive Test Variance Analysis + Previously Released AICPA Questions : Complete After reviewing Farhat and Becker
    2 Quizzes
  167. B4:M1: INTANGIBLES
    📖Intro To Intangible Assets
    6 Topics
    |
    2 Quizzes
  168. 📖Impairment Of Intangible Assets
    3 Topics
  169. 📖Goodwill Impairment
    7 Topics
    |
    2 Quizzes
  170. 📖Accounting For Computer Software Cost
    1 Topic
    |
    1 Quiz
  171. 📖Research & Development Cost
    6 Topics
    |
    1 Quiz
  172. 📖Start-Up & Initial Operating Losses
    4 Topics
  173. 🎯Test: Intangibles Assets and Software Cost
    3 Quizzes
  174. B4:M2: REVENUE RECOGNITION ADVANCED TOPICS
    📖Percentage Of Completion Method Losses
    2 Topics
  175. 📖Percentage Of Completion & Completed Contract Methods
    3 Topics
    |
    2 Quizzes
  176. 📖Contract Modification
    3 Topics
  177. 📖Sales Returns & Allowances
    2 Topics
  178. 📖Repurchase Agreement
    2 Topics
  179. 📖Bill & Hold
    2 Topics
  180. 📖Accounting For Sales On Consignment
    1 Topic
  181. 📖Warranty & Upfront Fees
    3 Topics
  182. 📖Sales Reconciliation
    4 Topics
    |
    2 Quizzes
  183. 🎯Test: Revenue Recognition
    1 Quiz
  184. B4:M3: STOCK COMPENSATION
    📖Accounting For Stock Options
    3 Topics
    |
    1 Quiz
  185. 📖Restricted Stocks
    3 Topics
    |
    2 Quizzes
  186. 📖Share Appreciation Rights SARs
    2 Topics
    |
    2 Quizzes
  187. 🎯Test: Stock Compensation
    1 Quiz
  188. B4:M4: BUSINESS COMBINATIONS & CONSOLIDATED FINANCIAL STATEMENTS
    📖Introduction To Business Combination
    2 Topics
  189. 📖Variable Interest Entity
    2 Topics
    |
    1 Quiz
  190. 📖Business Combinations: Acquisition Method
    2 Topics
    |
    1 Quiz
  191. 📖Elimination Of The Investment In The Subsidiary
    2 Topics
    |
    1 Quiz
  192. 📖Consolidated Financial Statements How To Read
    1 Topic
    |
    1 Quiz
  193. 📖Impairment Of Assets (Intangibles & Goodwill)
    1 Topic
    |
    1 Quiz
  194. 🎯Test: Business Combinations and Consolidations + AICPA Questions
    1 Quiz
  195. B4:M5: CONSOLIDATED FINANCIAL STATEMENTS: FOREIGN CURRENCY TRANSLATION ADJUSTMENTS
    📖Temporal Method: Remeasurement Model
    3 Topics
    |
    1 Quiz
  196. 📖Current Rate Method | Translation Of Financial Statements
    3 Topics
    |
    1 Quiz
  197. 📖Translation Of Retained Earnings
    2 Topics
  198. 📖Translation Of Inventory, COGS, & PP&E
    2 Topics
  199. 🎯AICPA Questions: Foreign Currency Translation Adjustments
    1 Quiz
  200. B4:M6: DERIVATIVES & HEDGE ACCOUNTING
    📖Introduction To Hedging & Derivative Instruments
    3 Topics
  201. 📖Speculations
    3 Topics
  202. 📖Fair Value Hedge
    4 Topics
  203. 📖Cash Flow Hedge
    4 Topics
  204. 📖Hedging Effectiveness & Documentatiom
    5 Topics
    |
    2 Quizzes
  205. 🎯Test: Derivatives and Hedging AICPA Questions
    2 Quizzes
  206. B4:M7: LEASES
    📖Introduction To Accounting For Leases
    3 Topics
    |
    2 Quizzes
  207. 📖Lessee Accounting: Operating Lease vs Finance Lease
    12 Topics
    |
    2 Quizzes
  208. 📖Accounting For Sales-Type Lease, Lessor
    4 Topics
  209. 📖Direct Financing Lease
    3 Topics
  210. 📖Accounting For Operating Lease By Lessor
    6 Topics
    |
    2 Quizzes
  211. 📖Residual Value For Leases Guaranteed & Unguaranteed For Lessor
    2 Topics
  212. 📖Initial Direct Cost & Executory Cost
    2 Topics
    |
    1 Quiz
  213. 📖Accounting For Sales-Leaseback Transactions
    4 Topics
    |
    2 Quizzes
  214. 🎯Test: Leases AICPA Questions
    2 Quizzes
  215. B4:M8: SEGMENT REPORTING & PUBLIC COMPANY REPORTING TOPICS
    📖Segment Reporting
    3 Topics
    |
    1 Quiz
  216. 📖Extensible Business Reporting Language (XBRL)
    2 Topics
    |
    1 Quiz
  217. 📖Regulation SK
    2 Topics
    |
    1 Quiz
  218. 📖Regulation SX
    2 Topics
    |
    1 Quiz
  219. 🎯Comprehensive Test: SEC requirements and Reportable Segments
    1 Quiz
  220. B4:M9: FINANCIAL STATEMENTS OF EMPLOYEE BENEFIT PLAN
    📖Pension Plan Financial Statements
    2 Topics
    |
    1 Quiz
  221. 🎯Test: Pension Plans AICPA Questions
    1 Quiz
  222. B5:M1: BUDGETARY, ENCUMBRANCES & ACTIVITY ACCOUNTING
    📖Governmental Budgeting | Appropriations | Encumbrances | Estimated Revenues
    3 Topics
  223. 📖Encumbrances Lapse At Year End | Encumbrances Don't Lapse At Year End
    2 Topics
  224. 📖Budgetary Governmental Accounting
    1 Topic
    |
    2 Quizzes
  225. 📖Revenue Recognition For Governmental Accounting
    3 Topics
    |
    1 Quiz
  226. 📖Imposed Nonexchange Revenue Recognition
    2 Topics
  227. 📖Governmental Grants | On Behalf Payments | Revenue Recognition
    3 Topics
  228. 📖Governmental Revenue Recognition Sales Of Assets | Permits & Licenses Revenues
    2 Topics
  229. 📖Expenditures Vs. Expenses
    2 Topics
  230. 📖Materials & Supplies: Consumption Vs Purchases Method
    3 Topics
  231. 📖Expenditures For Capital Asset, Interest, Principal & Capital/Operating Lease
    2 Topics
  232. 📖Nonexchange Expenditures
    2 Topics
  233. 📖Governmental Leases
    2 Topics
  234. B5:M2: OTHER TRANSACTIONS
    📖Elements Of Governmental Financial Statements
    2 Topics
  235. 📖Interfund Governmental Activities
    3 Topics
  236. 📖Categories of Fund Balance
    2 Topics
    |
    1 Quiz
  237. 📖Net Position In Governmental Accounting
    2 Topics
    |
    1 Quiz
  238. B5:M3: GOVERNMENTAL FUNDS & FINANCIAL STATEMENTS: PART 1
    📖Governmental Funds
    2 Topics
  239. 📖Special Revenue Funds
    2 Topics
    |
    1 Quiz
  240. 📖Debt Service Funds
    2 Topics
    |
    1 Quiz
  241. B5:M4: GOVERNMENTAL FUNDS & FINANCIAL STATEMENTS: PART 2
    📖Capital Project Funds
    3 Topics
    |
    2 Quizzes
  242. 📖Permanent Funds
    2 Topics
    |
    1 Quiz
  243. B5:M5: PROPRIETARY FUNDS FINANCIAL STATEMENTS
    📖Accounting For Internal Service Funds | Proprietary Funds
    2 Topics
  244. 📖Accounting For Proprietary Funds | Enterprise Funds
    2 Topics
  245. 📖Enterprise Funds | Landfill Cost
    2 Topics
  246. 📖Journal Entries For Enterprise Funds
    1 Topic
    |
    2 Quizzes
  247. B5:M6: FIDUCIARY FUNDS FINANCIAL STATEMENTS
    📖Agency/Custodian Funds
    1 Topic
  248. 📖Private Purpose/Investment Trust Funds
    2 Topics
  249. 📖Pension Trust Funds
    2 Topics
    |
    2 Quizzes
  250. 📖Governmental Funds
    2 Topics
  251. B5:M7: FORM & CONTENT OF THE ANNUAL COMPREHENSIVE ANNUAL FINANCIAL REPORT
    📖Annual Comprehensive Financial Report (ACFR)
    2 Topics
    |
    1 Quiz
  252. 📖Components Units
    2 Topics
    |
    1 Quiz
  253. B5:M8: GOVERNMENT-WIDE FINANCIAL STATEMENTS
    📖Government Wide Financial Statements
    2 Topics
    |
    1 Quiz
  254. 📖Capital Assets In Government-Wide FS
    2 Topics
    |
    1 Quiz
  255. B5:M9: FUND FINANCIAL STATEMENTS
    📖Fund Financial Statements
    2 Topics
  256. 📖Major Fund Rules
    2 Topics
  257. 📖Proprietary Funds
    2 Topics
  258. 📖Cash Flow Statement For Proprietary Funds
    3 Topics
    |
    2 Quizzes
  259. 📖Fiduciary Funds
    2 Topics
  260. B5:M10: DERIVING GOVERNMENT-WIDE FINANCIAL STATEMENTS
    📖Reconciliation Government Wide Financial Statements Capital Assets
    2 Topics
  261. 📖Reconciliation Government Wide Financial Statements: Long Term Debt
    2 Topics
  262. 📖Reconciliation Government Wide Financial Statements: Revenues & Expenses
    2 Topics
  263. 📖Reconciling Internal Service Funds To Government Wide Financial Statements
    2 Topics
  264. 📖Preparing Government Wide Financial Statements
    1 Topic
    |
    2 Quizzes
  265. B5:M11: NOTES & SUPPLEMENTARY INFORMATION
    📖Management's Discussion & Analysis (MD&A) For Government
    2 Topics
  266. 📖Notes To The FS - Governmental Accounting
    2 Topics
  267. 📖Required Supplementary Information (Other Than MD&A)
    2 Topics
    |
    1 Quiz
  268. 🎯Test: Government Accounting and Reporting + AICPA Questions
    1 Quiz

Participants 2364

Show more
Lesson Progress
0% Complete
4 Costs of QualityDownload

Responses

  1. James 22 November 2024

    under Prevention costs at 3:36, Raw material is listed as a prevention cost. It is also listed as an appraisal cost at 4:45. However, in question #2, 5 and 6, the explanation of answers, Prevention costs, inspection of materials is not listed. It is listed in question #1, the explanation of answer, Appraisal costs, inspection of materials is listed. Is it a Prevention cost or an Appraisal cost?

    1. Maroun, CPA 24 November 2024

      Hello James,

      Thank you for pointing this out! To clarify, inspecting raw materials as they come in is classified as a prevention cost because it is aimed at avoiding defects before production begins. The purpose of this inspection is to prevent defective materials from being used in the manufacturing process.

      On the other hand, inspecting and testing work-in-process or final products is classified as an appraisal cost because it occurs after production has started and is focused on detecting defects in products that are already in progress or completed. In the questions, examples are provided, and not a comprehensive list.

      Let me know if you have further questions or need additional clarification!

Farhat.AI

Hi! I'm Farhat.AI. I've analyzed this lecture.

Ask about the lecture or another finance and accounting topic.