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 - You have observed this accounting phenomenon: Corporate auditors normally use the quantitative rules of thumb to set materiality threshold. For example, if misstatement of an item in sale is less than 0.5% of total sales, the auditor would consider this misstatement is trivial (immaterial) and might not include it into the report or initiate further investigation. However, government auditors often set a far stricter materiality threshold. They often stay alter on some issues which involve very small amount of money, which may be overlooked if the rules of thumb apply. You have noticed a theoretical perspective of accountability literature. It states that if auditors suffer higher pressure from accountability, they would like to make stricter materiality threshold.
Required -
(1) Apply the perspective of accountability that you noticed to interpret this accounting phenomenon.
(2) Use this case as an example to discuss rationale of generalizing the traditional accounting concepts from a business setting to the public sector setting.
(3) Use this case as an example to discuss how a practical accounting technology can be developed into the public-sector context.
Financial Accounting Standards Board assignment help and solutions, assessment help - Analyze the Financial Accounting Standards Board (FASB) conceptual.
Prepare in partial format the liability section of the firm's balance sheet
What efforts is the Auditing Standards Board making to clarify auditing standards? How are the efforts of the Auditing Standards Board
Anna sells the property for $23,000 in 2019. What are the tax status of the property and the nature of the recognized gain when she sells the property
Explain how cash resulting from source of capital processes may be handled differently than in revenue processes.
The beach house is sold on December 10, 2019, for $700,000 (related selling expenses of $42,000). Calculate Lloyd least allowable recognized gain
The purchasing lead time is 7 days. Basketball Inc. is open 365 a year. What is the reorder point
If SDI follows U.S. GAAP, how might SDI structure the lease agreement to avoid the additional debt? Explain.
Find the nominal rate of return on a perpetual preferred share with a face value of $ 200, a dividend of 9% of the face value, and current market price of $100
The time it takes for a person to choose a birthday gift. If X has an average value of 23 minutes, what is the probability that X is less than 28 minutes?
Imagine that you are a senior business manager for a U.S.-based multinational company. You have been informed by your supervisor that your Company needs to consider expanding into a new international market to seek new opportunities.
XYZ Company insured wages and allies expenses of $15,000,000 in 2020 and had 300 employees. Explain the auditing procedure you followed
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