1. Your friend is approaching the bank for a loan for her small business. The bank has asked for financial statements prepared under Canadian GAAP.

1. What does GAAP stand for?
2. Which GAAP would you recommend be used to prepare her financial statements? Why? Compare and contrast the benefits of the options. (Make sure you define any acronyms used.)

2. What do the letters in the Canadian CPA stand for?
3. Who is SMUs Accounting Departments Co-Chair who handles student issues?
4. How many modules are required to be completed in the CPA Professional Education Program (PEP)?
5. If you complete all required courses in the major in Accounting under the 2018-19 Academic Calendar, how many additional Accounting courses do you need to take to complete all CPA pre-requisite material (using Accounting electives or free electives)?
   • List the additional courses its number and name.