User Account

All Pages

Identify and describe the two forms of account receivable

Assignment Help Accounting Basics
Reference no: EM132563884

Question - The audit firm of Efi and Edi Co. is examining the financial statements of a manufacturing company with a significant amount of trade receivable. Efi and Edi are satisfied that the accounts are adequately summarised and classified and that allocations, reclassifications and valuations are made in accordance with applicable accounting standards. Efi and Edi planning to use account receivable confirmation requests to verify trade accounts receivables.

Required -

a. Identify and describe the two forms of account receivable confirmation requests, and indicate what factors Efi and Edi will consider in determining when to use each.

b. Assume Efi and Edi received a satisfactory response to the confirmation requests. Describe how they evaluate the collectability of the trade receivable.

Reference no: EM132563884

Questions Cloud

What can her insurance company do to michelle for hiding : She does not tell her new auto insurance agent about the two speeding tickets she got in the past year.
Do agree or disagree with the position : Do you agree or disagree with his position? Explain. Many economists believe that in periods of severe economic downturn, the federal government
Explain the mental health commitment standards : Post an explanation of those emerging issues in the mental health care arena that the policymakers address and those that are in need of policy advocacy.
Calculate boral weighted average cost of capital : If the corporate tax rate is 40 per cent, calculate Boral's weighted average cost of capital. Boral currently has $400 million market value of debt outstanding.
Identify and describe the two forms of account receivable : Identify and describe the two forms of account receivable confirmation requests, and indicate what factors Efi and Edi will consider in determining when to use
Raw data not readily usable by analytics tasks : Why are the original/raw data not readily usable by analytics tasks? What are the main data preprocessing steps? List and explain their importance in analytics
How believable or credible do you think glassdoor : On a scale of 1-10 - 1 being not credible at all and 10 being highly credible - how believable or credible do you think glassdoor.com reviews are?
Compute what is the break-even point in dollar sales : Compute What is the break-even point in dollar sales? The variable cost per unit is $21.28, Poseidon Swim has average fixed costs per year of $45,519.
Discuss organization need for physical security : Discuss an organization's need for physical security. What methods, approaches, and models can be used by organizations when designing physical security needs?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

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

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

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 and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd