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You are one of the three partners in a firm of accountants. Five years ago, the firm was appointed as external accountants to a young, successful and fast growing company, engaged to prepare year end accounts and tax returns. The business had started trading with a handful of employees but now has a workforce of 200, while still remaining below the size of company requiring a statutory audit.
Due to close relationship with the directors of the company (who are its owners) and several of its staff, you became aware that staff purchases of goods manufactured by the company are authorized by production managers, and then processed outside the accounting system. The proceeds from these sales are used to fund the firm's Christmas party
Problem 1: Why is integrity a threat in this scenario?
Show algebraically that the price-earnings ratio formula is identical to the number of shares outstanding multiplied by the stock price formula.
Direct labor efficiency variance-favorable 4000 and Standard direct labor hour 30000. What is the standard direct labor rate
poplar corp. comparative balance sheets included inventory of 90200 at december 31 2011 and 70600 at december 31 2012.
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a business operated at 100 of capacity during its first month and incurred the following costsproduction costs 10000
Carolina Consulting Company has a defined benefit pension plan. Prepare the 2018 journal entries to record pension expense and funding
Calculate the basic earnings per share and Calculate the diluted earnings per share
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Calculate the amount of share capital in the statement of financial position of Acacia Ltd as at 30 June 2019 (Show all workings.)
prepare a statement of partnership liquidation indicating a the sale of assets and division of loss b the payment of
Explain the limitations of the traditional accounting architecture that make it difficult to directly trace the cash flows of an organization. Did FASB respond properly to accounting's information customers? Justify your response.
Suppose Keller uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line
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