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 - Sampling and non-sampling risk for substantive testing
Fred Hutchinson is auditing revenue for Urban Homes, a home builder in California. Urban Homes usually has between 450 and 600 home construction projects going at any point in time, for between 300 and 500 customers. Urban Homes recognizes revenue on a percentage-of-completion basis. Fred has to determine the appropriateness of revenue recognition for Urban Homes. Fred has previously tested controls and assessed control risk as moderate.
Required -
a. What population(s) would be relevant to Fred's substantive tests of revenue recognition?
b. Explain the potential implications of sampling risk for the audit of revenue recognition.
c. What possible non-sampling risks exist in this case?
Outline an anti-fraud program that you would implement at your company (current or previous). Suggest the approach you would take to sell this program to your.
the expected return on the market is 12 and the risk free rate is 7. the standard deviation of the return on the market
What amount is the carrying value of the asset related to this lease at December 31, of the current year
Assume that you are part of the audit team and assess a client's audit risk as high. Suggest what procedure the audit team should implement to reduce the risk to the firm.
Analysis of the assets and liabilities of Marie Corp. on December 31, 2002, disclosed assets with a tax basis of $1,000,000 and a book basis of $1,300,000. There was no difference in the liability basis. The difference in asset basis arose from te..
Identify the owners of corporations and the terminology for ownership units.
Prepare the 2010 income statement for Summers Cruise Company. E1-16 Presented below is information related to the sole proprietorship of Kevin Johnson, attorney.
on january 1 2012 jumpinjehosaphats inc. has been authorized to issue 1000000 common shares with a par value of 1. in
If a company's Cost of goods sold is $160,200 for the period, what is the amount of the cash paid to suppliers
We do not want to lose this quality by expanding through franchises. Rather, we prefer to maintain ownership of all units to ensure continued good service and quality." Evaluate the Fields franchising policy.
an automated real-time diagnostic system designed to replace the cutting tool of a drilling machine at optimum times
Samtech Manufacturing purchased land and building for $5 million. Determine the initial valuation of each asset Samtech acquired in these transactions
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