Research Problem 1. A new client comes to you in June 2023 and indicates that she instructed her previousaccountant in a letter dated January 2022 to file an S election for 2022. It now appears that the prioraccountant failed to follow through and make the election. What can you tell this new client about theavailability of S corporation status?

As of June 2023, the circumstances surrounding the new client indicate that her previous accountant…

Answered: Research Problem 1. A new client comes…

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter4: Ethical Responsibilities Of Accountants

Section4.1: Creve Couer Pizza, Inc.

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You are an accountant with a client that wants to set up a new company. She has come to you to ask what type of company to form. She is trying to decide between a corporation, an LLC, or a sole proprietorship. Taking into account the ability to raise capital, liability protections, taxation issues, ability to transfer ownership, and any other aspects you can discover discuss the pros and cons of the various entity forms. You can use your textbook but you should consult other courses as well. (It depends on what kind of company your client is opening and what they want to accomplish. The best you can do is give the client some information to think about. This post should cover the general aspects of the various type of business entities.)
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What is an accountant’s duty of care? What is GAAP and GAAS? Discussion Topic Two: Do some quick internet research and fine a case that deals with an accountant that has been found to have breached the duty of care. Provide a brief summary of the facts of the case, and provide the court's analysis. Be sure to use a reference
n n e? Fe ces ati Question 5 of 20. What are some of the features of Expert Help Chat? Choose all that apply. Tax Professionals answer questions from clients regarding specific issues. Tax Professionals can call, chat, or video chat with clients. Tax Professionals can screen share with clients to help navigate the online program. Tax Professionals will sign and file the return for the client. Mark for follow up
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11614 DISCUSSION QUESTIONSp ali togib.e 1. Tom Taxpayer meets with his CPA about a potential transaction. At the bns (0 meeting Tom Taxpayer presents the CPA with a private letter ruling that ed lliw is directly on point to his potential transaction. Can Tom Taxpayer rely vlataiba on the private letter ruling if he is later audited with respect to the return ert to bfiled for the year in which he enters the transaction? How would your dhue dianswer change if Tom Taxpayer provided a Revenue Ruling directly on point? nd blaleuw
Which of the following professional services would be considered an attestationengagement?(1) Advocating on behalf of a client about trust tax matters under review by theInternal Revenue Service.(2) Providing financial analysis, planning, and capital acquisition services as apart-time, in-house controller.(3) Advising management in the selection of a computer system to meet business needs.(4) Preparing the income statement and balance sheet for one year in the future basedon client expectations and predictions.
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Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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Discuss a current event (within the past two years) involving violations of accounting ethics at a public, private, non-profit, or governmental entity. Explain the event, and how ti occurred, and summarize the results of these violations. If you were in charge, how would you respond to help mitigate a future occurrence?

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