What does measurement date mean on the CPA exam?
Measurement date. The date at which an amount is fixed for accounting. Which date it is varies by topic, and choosing an incorrect one is a common exam trap.
Which CPA exam sections use measurement date?
Measurement date appears in 6 CPA exam sections: AUD, BAR, FAR, ISC, REG, TCP.
Related terms
- balance sheet date: The last day of the reporting period.
- report release date: The date the auditor grants the entity permission to use the report.
- acquisition-date fair value: What something was worth on the day control changed hands.
- monetary penalty: A fixed dollar amount imposed for a specific failure, separate from the tax owed and separate from interest.