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Question: Advanced Auditing:
Auditors sometimes distinguish between two kinds of frauds actual fraud and constructive fraud. Both can have different contextual meanings but the main difference is that the first is where the fraud is intended and in the later, for our context, there is no intent per say but there is gross negligence. In our latter cases, we have encountered scenarios, where we have sometimes questioned the motives of the auditors (a case for actual fraud) or at least convinced ourselves that they were incompetent or "very" negligent. Is one any worse than other? Should they be punished differently? The moral argument would be that the first type is worse than the second one but isn't incompetence much worse? (answer in essy form, min. of 500 words, be detail and specific).
Analyze the tax implications for the following case study. Apply the IRS codes to calculate a corporation's net operating loss based on net income. Support your conclusions with reference to specific IRS codes and regulations.
the following information is available to reconcile litner co.s book balance of cash with its bank statement cash
Dairy Company sold accounts receivable without recourse with face amount of P6,000,000. What amount of cash was initially received from factoring
Suppose Healthy Hearth has sufficient idle capacity to accommodate the government order for next month. What will be the impact on Healthy Hearth's operating income if it acceptsthis order?
What is required for a contract to be an express contract? What is the term for when a minor decides to honor a contract after turning the age of majority?
However, Tropical Sweets will know the level of demand and will implement the project only if it adds value to the company. Perform a qualitative assessment of the investment timing option's value.
Using the online library resources and the Internet, find an article about the unethical behavior of an auditor and its impact on the company.
A company delivered $10,000 of goods to a customer that agreed to pay cash within 30 days. The goods had cost $8,000 to manufacture. Which of the following items would be increased by this sales transaction
In addition, assume that BeerBev sold 47,000 barrels of beer during the year. Assume that variable costs were 75% of the cost of goods sold and 50% of selling.
Show what are the potential costs of adopting a free trade regime? Do you believe government should do anything to reduce these costs? Why?
Collected a cash advance for services that will be provided during the coming year.
On January 1, year 1, an entity acquires a new machine with an estimated useful life of 20 years for 100,000. The machine has an electrical motor that must be replaced every five years at an estimated cost of 20,000.
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