Immaterial transactions to minimize the effect on output

Assignment Help Financial Accounting
Reference no: EM13752060

Normally, auditors using the ITF technique enter immaterial transactions to minimize the effect on output. This is a disadvantage because:

A. the transaction will not appear normal

b. a special routine will be required in the application system

c. designing the test data can be difficult

d. certain limit tests cannot be attempted

Reference no: EM13752060

Questions Cloud

Compute the revenue and gross profit : On June 15, 2016, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington, D.C., for $220 million. The expected completion date is April 1, 2018, just in time for the 2018 baseball season. Compu..
Eliminate the gain from intra-entity transaction : In 2013, company A sold inventory costing $100 to its fully-owned subsidiary company B for $150. The entire inventory remains with company B at the end of 2013. What journal entry should be recorded (*G) at the beginning of 2014 to eliminate the gain..
Which is the better description of the state of the world : Which is the better description of the state of the world in the early twenty-first century: an integrated "global village" moving toward a single world culture, or a "clash of civilizations" leading to increased global fragmentation
Presentation on the topic of appreciative inquiry : Power point presentation on the topic of Appreciative Inquiry, covering what it is, why it is now a new model, concerns and advantages, and your perspectives on this approach.
Immaterial transactions to minimize the effect on output : Normally, auditors using the ITF technique enter immaterial transactions to minimize the effect on output.
Performance-based compensation plan : The executive officers of Rouse Corporation have a performance-based compensation plan. The performance criterion of this plan is linked to growth in earnings per share. When annual EPS growth is 12%, the Rouse executives earn 100% of the shares; if ..
Write an essay on the louvre museum : Write an essay on The Louvre Museum, The Metropolitan Museum of Art and The Smithsonian Institution Freer Gallery and Sackler Gallery.
Prepare compound journal entry to record income tax expense : Prepare a compound journal entry to record the income tax expense. Show-well labeled computations
Update your website to include a simple web form : Update your website to include a simple web form as discussed in your design document. Use JavaScript to validate the form contents and display the results of that validation to the user in a popup window

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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