PROFESSIONAL EXAMINATIONS A Department for Students of Accounting.

Abstract The article presents the question paper that was prepared by the Board of Examiners of the American Institute of Accountants and was presented as the second half of the Certified Public Accountant examination in accounting practice held on May 14, 1953. The candidates were required to solve problems 1, 2 and 3 and one of the remaining three problems in four and half hours. The weights assigned were that for problem 1, there was 16 points, for problem 2 there was 6 points, for problem 3 there was 18 points and for problems 4, 5 and 6 there was 10 points for the one selected. The time duration for doing individual questions is also given. In one of the questions it is given the case of examining Roofing Co. Inc. as of December 31, 1952, which was the end of its first year of operation. All accounts except those for fixed assets and depreciation have been reviewed and necessary adjustments made. Now one finds that the depreciation recorded and the fixed asset accounts is not take into account. The adjusted trial balance including adjustments made during the audit work is given. The students are required to prepare analyses showing computation of gross fixed asset values at December 31, 1952, total flood loss for the year 1952 and depreciation for the year 1952.