[seattleacct]

The Ninja audio mentions the mnemonic PERCV for the account balance assertions, but my materials only include the “ERCV” part, not presentation and disclosures. Was the “P” added recently?

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[Anonymous]

Bumping this one for you. I don't have the notes or the audio so I can't really help anyway. Good Luck!!

[Anonymous]

Bumping this one for you. I don't have the notes or the audio so I can't really help anyway. Good Luck!!

[seattleacct]

Thank you!

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[seattleacct]

Thank you!

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[Anonymous]

P= Presentation and Disclosure

[Anonymous]

P= Presentation and Disclosure

[seattleacct]

Yes, but is the presentation & disclosure category new to the “account balance” assertions?

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[seattleacct]

Yes, but is the presentation & disclosure category new to the “account balance” assertions?

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[Anonymous]

Oh um…u got me.. no idea. Sorry

[Anonymous]

Oh um…u got me.. no idea. Sorry

[seattleacct]

Ok, so I think I may have found a right answer for this.

The PCAOB uses “P” with the rest: “ERCV”, the AICPA used to (I think), but now lists it as it's own category. So if you get a question regarding the assertions, check to see if they're talking about the PCAOB or not.

I think the PCAOB only has 5 total assertions, correct me if I'm wrong: “PERCV”

And the AICPA has 3 categories w/total of 14 assertions, some of them repeating.

AICPA Categories: Acct Balances, Transactions, and Presentation & Disclosure. Acct Balances: “CERV”, Transactions: “OACCC,” Presentation & Disclosures “ROACC”

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[seattleacct]

Ok, so I think I may have found a right answer for this.

The PCAOB uses “P” with the rest: “ERCV”, the AICPA used to (I think), but now lists it as it's own category. So if you get a question regarding the assertions, check to see if they're talking about the PCAOB or not.

I think the PCAOB only has 5 total assertions, correct me if I'm wrong: “PERCV”

And the AICPA has 3 categories w/total of 14 assertions, some of them repeating.

AICPA Categories: Acct Balances, Transactions, and Presentation & Disclosure. Acct Balances: “CERV”, Transactions: “OACCC,” Presentation & Disclosures “ROACC”

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[Author]

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