User Account

All Pages

Determine the reliability factor

Assignment Help Accounting Basics
Reference no: EM13952667

You are the auditor for a company and need to review the company's accounts receivable using probability proportional to size (PPS) sampling. In addition, the board of directors has requested that you and your team present an explanation of your PPS process at its next monthly meeting.
Individual Portion:

Use the following company data and the PPS Sampling Tables 1 & 2:
• The recorded book value of these accounts is $3,460,000.
• The company has a tolerable error of $63,460.
• The anticipated error is $13,000.
• The risk of incorrect acceptance is 5%.
• The acceptable number of overstatements of misstatements is 2.

Use probability proportional to size (PPS) sampling to do the following:
A. Determine the reliability factor.
B. Determine the correct expansion factor.
C. Determine the sample size you should use.
D. Determine the sampling interval you should use.
This is a separate portion of the project. It needs to be on a separate sheet then the top portion.
E. The objective of using probability proportional to size sampling (PPS) to test account balances
F. Specifically, how you used PPS to test this company's account balances
G. The purpose of the sample size and the sampling interval

Reference no: EM13952667

Questions Cloud

What are the benefits of this budgeting or planning software : What are the benefits of this budgeting/planning software?
Explain the concept of "mental model" : Explain the concept of "mental model" and say how this concept relates to Card, Moran and Newell's "Model Human Processor".
Determine the order in which the following budgets : 1. Determine the order in which the following budgets are generally prepared.a. Material purchases budgetb. Sales budgetc. Budgeted income statementd. Production budget
What is the x coordinate of the object : What is the image distance? What is the x coordinate of the object? Keep in mind that a real image and a real object should be on opposite sides of the lens.
Determine the reliability factor : You are the auditor for a company and need to review the company's accounts receivable using probability proportional to size (PPS) sampling. In addition, the board of directors has requested that you and your team present an explanation of your P..
Answer each of jordan questions using the data given above : Answer each of Jordan's questions using the data given above. In each case, explain how you arrived at your answer.
Find the physical path length, l1 of the ray in the oil : What would be the apparent depth (below the air-oil interface) of a small particle at the bottom of the water layer viewed from directly above the container?
Did the designs allow one to extract data into relevant info : Did the designs allow one to extract data into relevant informational views?Can the DBMS aide in making real time intelligent decisions?Can it aide in closing the loop from decision into action?
Woman guilty of murder : She did not call the police. The man later murdered his father and was apprehended for the crime. The man's criminal trial concluded with a finding of not guilty.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd