California Clauses Relating to Accounting Matters

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Multi-State
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US-P0609-5AM
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This sample form, containing Clauses Relating to Accounting Matters document, is usable for corporate/business matters. The language is easily adaptable to fit your circumstances. You must confirm compliance with applicable law in your state. Available in Word format.
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FAQ

This section of the GASB Codification provides classification guidance on transfer, revenue, expenditure, and expense account classification in financial statements.

To renew a license to an active status, licensees must complete a minimum of 80 hours of qualifying CE, including four hours of Ethics, within the two-year period immediately preceding the date on which the licensee applies for license renewal.

If you wish to practice under a new fictitious name, please submit the Fictitious Name for Sole Practitioner Licensure Application and Check Sheet form. You may not practice under the new name until it has been approved by the CBA.

Adverse opinion. An adverse opinion states that the financial statements do not present fairly the financial position, results of operations, or cash flows of the entity in conformity with generally accepted accounting principles.

When you apply for your CPA license you must document completion of a minimum of 150 semester units of college coursework to include a baccalaureate degree or higher, 24 semester units each in accounting and business-related subjects, 20 units of accounting study, and 10 units of ethics education.

Apply for a retired status license if you have been a CPA for at least 20 years, with at least five years as an active CPA in the state of California. An application for a retired status license can be submitted at any time. There is a $75 fee to apply.

GAAP consists of a common set of accounting rules, requirements, and practices issued by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). GAAP sets out to standardize the classifications, assumptions and procedures used in accounting in industries across the US.

Regulation Section 87(b)]: A licensee renewing a license in an active status shall complete four hours of the 80 hours of continuing education required pursuant to subsection (a) in an ethics course.

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California Clauses Relating to Accounting Matters