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What are management assertions? How do they affect the financial statements? How does the auditor formulate audit objectives based on management assertions?
Can materiality be quantified? If so, how? What are the three steps of applying materiality to an audit? What factors should be considered when allocating materiality to an account balance?
Select a current event article related to small business, tax or accounting. Provide the link to the article and then summarize your thoughts on the article. Post one discussion question relating to your article for the class to discuss.
How much income must Dave report for the tax year and what is the character of the income? What is Dave's basis in his partnership interest at the end of the tax year?
Create a cost-benefit analysis to evaluate the project
Prepare journal entries to record the accounting for both the normal and abnormal rework. What were the total rework costs of XD1 chips in August 2011?
Cameron Bly is a sales manager for an automobile dealership-Does the warranty accrual decision create any ethical dilemma for Bly? Since warranty expenses vary, what percent do you think Bly should choose for the current year? Justify your response.
Jim Bingham is considering starting a small catering business. He would need to purchase a delivery van and several equipment costing $125,000 to equip the business and another $60,000 for inventories
Draw Jim's budget line (throughout, please put coffee on the vertical axis)-Use a budget line-indifference curve map analysis to explain which pricing scheme Jim prefers.
On January 1, 2013, Winn Heat Transfer leased office space under the 3 year operating lease agreement. The arrangement specified 3 annual rent payments of $80,000 each, starting January 1, 2013, the inception of lease
Prepare a new segmented income statement for the company using the above format. Show both amounts and percentages.
You will be asked to address a accounting failure from AMERICAN INSURANCE GROUP. Overview of the situation/accounting issue
Brown Corporation, an accrual basis corporation, has taxable income of $150,000 in the current year. Included in its determination of taxable income are the following transactions.
Calculate the firm's cost of retained earrings and the cost of new common equity. Calculate the break-point associated with retained earnings.
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
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