Identify what will give rise to these possible misstatements

Assignment Help Financial Management
Reference no: EM132363380

Question

You have just graduated and have been offered a junior accountants position at LTC accountants. This is your first job and you would like to impress your manager, your manager has requested you to assist him in the latest risk assessment for WDL (one of LTC largest client), who uses a periodic inventory system.

Your manager has requested you to calculate the gross profit margin for this year which is 60% compared to 45% from previous year. Based on your analysis, your manager asked you to comment on which accounts could be a risk of material misstatement and identify what will give rise to these possible misstatements?

Reference no: EM132363380

Questions Cloud

Regarding current public policy issues : Find relevant, recent and credible news piece (article or video) regarding current public policy issues
Problem domain of banking : knowledge of programming language design features - The topic of your essay is to design a language for the problem domain of Banking
What constitutes quality-academic research : Academic research and papers must meet certain standards of quality recognized by the academic community. What constitutes quality, academic research?
Prison alternative programs : Identify and describe two alternative programs used to keep offenders out of prison for lengthy incarcerations.
Identify what will give rise to these possible misstatements : Comment on which accounts could be a risk of material misstatement and identify what will give rise to these possible misstatements?
What would be your response to this person : You have just audited a company and provided your report to the shareholders at their annual general meeting. Afterwards, one of the shareholders.
Understand the methods and techniques involved in designing : Object-oriented programming, focusing on polymorphism and the use of interfaces - Understand the methods and techniques involved in designing, implementing
Prepare the text of a brief email to the controller : Prepare the text of a brief email to the controller of the company you work for. Your employer just won a major lawsuit and has received $50,000,000 in cash
Prepare the journal entry to record the accrual of interest : Cullumber Company issued $315,000 of 10%, 10-year bonds on January 1, 2020, at face value. Interest is payable annually on January 1.

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

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!

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