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Michael Ltd is currently auditing the financial report of Jackson Ltd for the year ending 30 June 2021.
You are the audit manager of this audit, and in your recent conversation with Jane Doyle, the audit partner, you have the learnt the following about Jackson Ltd:
Anna, another audit team member, is concerned about the maintenance undertaken on most factory machines during the financial year. During the review of the machine account, she has identified several transactions labelled as "scheduled maintenance". Upon further examination, she also noticed that these transactions occur every two months. Anna is concerned because she has never seen such transactions in the machine account before.
REQUIRED
Problem A) Identify and explain the assertions at risk in the above scenario.
Problem B) Write substantive procedure to verify the assertion(s) identified in (A) above.
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.
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Create a cost-benefit analysis to evaluate the project
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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
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