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!
A CPA in a regional public accounting firm that has ten offices in three states. Mr. Shine has approached you with a request for an audit. He is president of Hitech Software and Games, Inc., a five-year-old company in Buckhead area that has recently grown to $500 million in sales and $200 million in total assets. Mr. Shine is thinking about going public with a $25 million issue of common stock, of which $10 million would be a secondary issue of shares he holds. You are very happy about this opportunity because you know Mr. Shine is the new president of Atlanta Area Symphony Society (AASS) board and has made quite a civic impression since he came to Atlanta seven years ago. Hitech is one of the growing employers in the city.
Required: 1. Discuss the sources of information and the types of inquiries that you and the firm's partners may make in connection with accepting Hitech as a new client. 2. Do professional audit standards require any investigation of prospective clients? 3. Suppose Mr. Shine also has told you that 10 years ago his closely held hamburger franchise business went bankrupt, and on investigation, you learn from its former auditors (your own firm in another city) that Shine played "fast and loose" with franchise-fee income recognition rules and presented such difficulties that your firm resigned from the audit (before the bankruptcy). Do you think the partner in charge of the audit practice should accept Hitech as a new client?
during 2011 robin sold the following assets business equipment for a 6000 loss stock investment for a 15000 loss and
nofat manufactures one product olestra and sells it to large potato chip manufacturers as the key ingredient in nonfat
explain the special feature that makes callable bonds attractive to an issuing corporation. why would some bonds be
which of inventory cost flow methods involves computations based on broad inventory pools of similar items?regular
firm a had a 15 marginal tax rate and firm z has a 28 marginal tax rate. firm a owns a controlling interest in firm z.
Illustrate out the some contemporary trends in global value chain management? How does the use of a global monetary unit (e.g., Euro or single currency) affect global value chain management?
prepare a multiple-step income statement for surry co. from the following data for the year ended december 31 2010.
Identify whether the systems are being used effectively.
As part of the initial investment, Omar contributes accounts receivable that had a balance of $25,000 in the accounts of a sole proprietorship. Of this amount, $1,150 is completely worthless. For the remaining accounts, the partnership will establ..
Slaughter earned $220,000 in net income in 2013 (not including any investment income) while Bennett reported $90,000. Slaughter attributed any excess acquisition-date fair value to Bennett's unpatented technology, which was amortized at a rate of ..
a the current ratio of a company is 61 and its acid-test ratio is 11. if the inventories and prepaid items amount to
which of the following would not be considered a contingent liability?a. potential fines from the epab. mortgage
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