19 Jul accounting project
Codification/ SEC/ MD Board of Accountancy Research Assignment
Due at the beginning of class Tuesday, March 28, 2017
You must turn in a typed, hard-copy version of your answers to receive credit. This is an individual project, you are not permitted to work in groups.
25 points will be deducted for each day the project is late.
If you have any problems with the websites, please try using a different web browser. All links should currently be working.
Part 1- Using the FASB’s Accounting Standards Codification to research accounting questions (You will be asked to use the codification on the CPA exam)
You can log in at http://www2.aaahq.org/ascLogin.cfm using the following:
User ID: AAA51803 Password: E66vSrM
After signing in, please use the “Master glossary” search tab at the left to answer the following 2 questions”
1)What is the definition of “Deferred Tax Asset” (simply copy and paste answer)
2) What is the definition of “Diluted Earnings Per Share” (simply copy and paste answer)
Part 2 – Using the SEC Edgar Database
Go to: http://www.sec.gov/ , Select “FILINGS”, “Company Filings Search”
We will look at Apple’s 10-K filing. Using the Fast Search Feature, Search by its Ticker Symbol: AAPL.
You should see a page with its SEC filings.
Click on the “Documents” tab for the 10-K filed on 2016-10-26
Click on a201610-k9242016.htm at the top of the list for the Form 10-K
You should now see the annual report for Apple, please navigate through the report to find the following information:
1. Which public accounting firm audited Apple’s consolidated financial statements?
2. What is the value of cash and cash equivalents on the balance sheet as of September 24, 2016?
| (keep in mind the units in which the numbers are expressed) |
3. What was Basic Earnings per Share for the Fiscal Year Ending September 24, 2016?
4. At the time of this filing, who was the Senior Director of Corporate Accounting (Principal Accounting Officer) of Apple, (found in Signatures section)
Part 3 – Maryland Board of Accountancy Website
Before taking the CPA exam, one must first apply to the Board of Accountancy of the state in which he or she would like to be licensed. Please go to: http://www.dllr.state.md.us/license/cpa/cpaexam/cpaexameducreq.shtml to answer the following questions:
1) In Maryland, how many semester hours must one have completed to become a candidate and take (sit for) the CPA exam?
2) Must an applicant have received a baccalaureate or higher degree to sit for the CPA exam in Maryland? (Yes or No)
3) To qualify to obtain a license as a certified public accountant in Maryland, an applicant must have completed a total of at least how many semester credit hours?
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