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Question - McCaffery, CPA, is the auditor of the Raleigh Corporation. Raleigh is a construction company that builds single-family homes and lowrise apartment buildings. Raleigh uses the percentage-of-completion method to recognize revenues on projects. Percentage of completion is based on discussion with project managers and the percentage of expenditures versus budget for each project. McCaffery has decided to use ADA as a risk analysis tool to evaluate revenue recognized on various projects.
a. Identify the assertion being audited.
b. How would an auditor set an expectation regarding percentage-of-completion for each project?
c. What would be an acceptable deviation from the auditor's expectation? Explain the role of business acumen in evaluating an acceptable deviation from the auditor's expectation.
d. What would be an unacceptable deviation from the auditor's expectations? Explain the role of business acumen in evaluating an unacceptable deviation from the auditor's expectation.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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