Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Evaluate each of the following independent situations and the determine the type of audit opinion which should be given. Justify your concern.
a) A flood destroyed the client's offices and all the accounting records just before the end of the financial year. The client does not have copy of the records.
b) An entity is facing significant litigation as a result of dumpling oil in the ocean. This is adequately disclosed in the notes to the financial statement.
c) The client has provided a provision for inventory obsolescence of $250 000. Based on your audit assessment, you have determined that the provision should be $300 000. Materiality for the clients has been set at $80 000, and you are satisfied in all other material respects.
d) The client refuses to include all liabilities in the balance sheet, and the auditor believes that the effect of this action is pervasive on the financial statements.
e) You are currently performing the audit of XYZ Limited. Your audit firm has been in dispute with management over the carrying value of brand names. Due to the materiality of the amounts involved, you decided to engage an expert to perform an independent valuation. The result from the expert was close to your original estimate and still materially different from that of management. The directors refuse to amend the financial statements.
an analysis of comparative balance sheets the current years income statement and the general ledger accounts of
Reeves, Inc., sold 1,000,000 shares of $25 par value common stock at $30. It subsequently repurchased 100,000 of those shares at $50 per share and then sold 70,000 of those shares at $55.
dowen corporation applies manufacturing overhead to products on the basis of standard machine-hours. for the most
At the beginning of the period, the Packing Department budgeted direct labor. Determine the budget for the department, assuming that it uses flexible budgeting.
If the land is instead, subject to a liability of $400,000, what are the tax consequences to Oriole on the distribution
Consider that the standard practice is for the quality control lab to select a sample of ns ball bearings, compute the speci?c value for the sample mean, x¯, and plot it on a chart with the following characteristics:
1. what is the international accounting standards board?2. what stakeholders might benefi t from the use of
On June 30, 2018, Sunland Co. sold equipment to an unaffiliated company for $1700000. Compute the Sunland's rent expense for this equipment for the year ended
on september 30 2013 sternberg company sold office equiptment for 12000. the equiptment was purchased on march 31 2010
the original estimate-this difference was not predicted, Compute depreciation for each year
Sinise Industries acquired two copyrights during 2010. One copyright related to a textbook that was developed internally at a cost of $9,900.
on may 31 sosa company had a cash balance per books of 6781.50. the bank statement from sandwich community bank on that
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd