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Question: As you develop the audit programme for Apex Ltd, you identify the financial controller's review of the bank reconciliation as another control to test. In connection with this test, you intend to perform the following steps:
(i) Interview the financial controller to understand the specific data reviewed on the reconciliation.
(ii) Verify that the bank reconciliation is properly prepared by the accountant and reviewed by the financial controller as evidenced by their respective signatures.
(iii) Checks the arithmetical accuracy of the bank reconciliation.
(iv) Obtain a response from the bank to verify the cash at bank balance at year end.
Required: Identify the audit procedure for each of the above action (i) to (iv).
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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