Terms Used In Kansas Statutes > Chapter 1 > Article 2 - State Board of Accountancy

• Active license: means a certificate or a permit to practice issued by another state that is currently in force and authorizes the holder to practice certified public accountancy. See Kansas Statutes 1-321
• Actively participate: means participation that is continuous as one's primary occupation. See Kansas Statutes 1-321
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• AICPA: means the American institute of certified public accountants. See Kansas Statutes 1-321
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• association: means a county fair incorporated as provided in this act; "agricultural societies" means other associations of citizens organized for the promotion of agriculture and kindred subjects; "fair" means a bona fide exhibition designed to promote education, and to encourage improvement in agriculture, horticulture, livestock, poultry, dairy products, liberal arts, mechanical fabrics, fine arts, domestic economy, and 4-H club activities by offering premiums and rewards for the best exhibits thereof; subject to the provisions of subsection (b), "fairground" means a plot of land of not less than 10 acres owned or leased by a fair association or county and used by the association or county primarily for fair purposes. See Kansas Statutes 2-125
• Attest: means providing the following services:

  (1) Any audit or other engagement to be performed in accordance with the statements on auditing standards (SAS);

  (2) any audit to be performed in accordance with the Kansas municipal audit guide;

  (3) any review of a financial statement to be performed in accordance with the statements on standards for accounting and review services (SSARS);

  (4) any engagement, except a compilation, to be performed in accordance with the statements on standards for attestation engagements (SSAE); and

  (5) any engagement to be performed in accordance with the standards of the PCAOB. See Kansas Statutes 1-321

• Bequest: Property gifted by will.
• Board: means the Kansas board of accountancy established under Kan. See Kansas Statutes 1-321
• Certificate: means a certificate as a certified public accountant issued under Kan. See Kansas Statutes 1-321
• Client: means a person or entity that agrees with a permit holder or firm to receive any professional service. See Kansas Statutes 1-321
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Compilation: means providing a service to be performed in accordance with the statements on standards for accounting and review services (SSARS) or the statements on standards for attestation engagements (SSAE) the objective of which is to present in the form of financial statements, information that is the representation of management or owners, or both, without undertaking to express any assurance on the statements. See Kansas Statutes 1-321
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: is a pplied to an instrument conveying lands but does not imply a sealed instrument. See Kansas Statutes 77-201
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Devise: To gift property by will.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Equity capital: means : (1) Capital stock, capital accounts, capital contributions or undistributed earnings of a registered firm as referred to in Kan. See Kansas Statutes 1-321
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Firm: means :

  (1) An individual who operates as a sole practitioner and who issues reports subject to peer review; or

  (2) any business organization including, but not limited to, a general partnership, limited liability partnership, general corporation, professional corporation or limited liability company. See Kansas Statutes 1-321

• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• General election: refers to the election required to be held on the Tuesday following the first Monday in November of each even-numbered year. See Kansas Statutes 77-201
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Good moral character: means lack of a history of dishonesty or a felonious act. See Kansas Statutes 1-321
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Licensee: means the holder of a certificate or a permit to practice issued by this state or another state. See Kansas Statutes 1-321
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Manager: means a manager of a limited liability company. See Kansas Statutes 1-321
• Member: means a member of a limited liability company. See Kansas Statutes 1-321
• Month: means a calendar month, unless otherwise expressed. See Kansas Statutes 77-201
• NASBA: means the national association of state boards of accountancy. See Kansas Statutes 1-321
• Nonattest: means providing the following services:

  (1) The preparation of tax returns and providing advice on tax matters;

  (2) the preparation of any compilation;

  (3) management advisory, consulting, litigation support and assurance services, except for attest services;

  (4) financial planning;

  (5) valuation services; and

  (6) any other financial service not included in the statements on auditing standards, the statements on standards for accounting and review services, the standards for attestation engagements as developed by the American institute of certified public accountants or as defined by the board. See Kansas Statutes 1-321

• Oversight: Committee review of the activities of a Federal agency or program.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• PCAOB: means the public company accounting oversight board created by the Sarbanes-Oxley act of 2002. See Kansas Statutes 1-321
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Practice of certified public accountancy: means performing or offering to perform attest or nonattest services for the public while using the designation "certified public accountant" or CPA in conjunction with such services. See Kansas Statutes 1-321
• Practice of public accountancy: means performing or offering to perform attest or nonattest services for the public by a person not required to have a permit to practice or a firm not required to register with the board. See Kansas Statutes 1-321
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Principal place of business: means the office location designated by the licensee for purposes of substantial equivalency and reciprocity. See Kansas Statutes 1-321
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Professional: means arising out of or related to the specialized knowledge or skills associated with CPAs. See Kansas Statutes 1-321
• Property: includes personal and real property. See Kansas Statutes 77-201
• Quorum: The number of legislators that must be present to do business.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Report: when used with reference to any attest or compilation service, means an opinion, report or other form of language that states or implies assurance as to the reliability of the attested information or compiled financial statements and that also includes or is accompanied by any statement or implication that the person or firm issuing it has special knowledge or competence in accounting or auditing. See Kansas Statutes 1-321
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Rule: means any rule or regulation adopted by the board. See Kansas Statutes 1-321
• seal: includes an impression of the seal upon the paper alone, as well as upon wax or a wafer affixed to the paper. See Kansas Statutes 77-201
• State: means any state of the United States, the District of Columbia, Puerto Rico, the U. See Kansas Statutes 1-321
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Substantial equivalency: is a determination by the board of accountancy or its designee that the education, examination and experience requirements contained in the statutes and administrative rules of another jurisdiction are comparable to, or exceed the education, examination and experience requirements contained in the uniform accountancy act or that an individual CPA's education, examination and experience qualifications are comparable to or exceed the education, examination and experience requirements contained in the uniform accountancy act. See Kansas Statutes 1-321
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• this state: means the state of Kansas. See Kansas Statutes 1-321
• Undertaking: means a promise or security in any form where required by law. See Kansas Statutes 77-201
• Uniform accountancy act: means model legislation issued by the AICPA and NASBA in existence on July 1, 2007. See Kansas Statutes 1-321