What does accelerated filer mean on the CPA exam?
Accelerated filer. A public company with public float of at least 75 million dollars that has been reporting for at least a year. The classification sets filing deadlines and whether an auditor attests to internal control.
Defined against 17 CFR 240.12b-2.
Which CPA exam sections use accelerated filer?
Accelerated filer appears in the BAR section of the CPA exam.
Related terms
- large accelerated filer: A public company with public float of at least 700 million dollars.
- risk of material misstatement: The risk that the statements are materially misstated before the audit begins.
- material weakness: A deficiency, or combination of deficiencies, in internal control over financial reporting where there is a reasonable possibility that a material misstatement will not be prevented, or detected and corrected, on a timely basis.
- held for sale: A classification for a component the entity is actively marketing and expects to sell within a year.
- statute of frauds: The rule that certain contracts are unenforceable unless evidenced in writing and signed, including sales of land, sales of goods of 500 dollars or more, and agreements that cannot be performed within a year.
- goodwill: An asset representing the future economic benefits of acquired assets not separately identified, measured as consideration less identifiable net assets.