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Question-
Allied Constructions Limited is considering entering into a lease agreement that contains the following information for a new machine:
?Lease payment (in advance) = $120,000 per year?Lease term = 5 years?Purchase cost = $500,000?Depreciation per year = 20% of purchase cost?Residual value = $50,000?Salvage value = $20,000
The relevant tax rate is 35%. Tax savings on the lease will be recorded in the same year as the lease payments.The company's before tax cost of debt is 8% per annum. Calculate the incremental NPV of the lease agreement and ascertain if the company should take out the lease.
Auditors cannot say that the books have been done 100% correctly because they cannot possibly look over every part of them. They instead give an opinion based on a sampling of the information
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Use the events and outcomes surrounding the collapse of Enron and Arthur Andersen to give insight on this issue in a one page Memo that is addressed to Mr. Tu Dewie and resolves his concerns.
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Explain in detail the professional ethics of an auditor and its importance to the auditing perfession. Provide examples of five ethical dilemmas that could arise during the audit process and determinge how you would resolve them.
Purpose a sample draft of a standard unqualified audit opinion and make sure you add a clause that the opinion is a Sample Only and not to be used for any other purpose
Why might planning materiality differ from the materiality level used in evaluating audit findings? What official quantitative guidelines exist for financial statement materiality? Identify one of the quantitative guidelines commonly used in practi..
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