Solution-Should deloitte have evaluated the sales occurring

Should deloitte have evaluated the sales occurring

Assignment Help Managerial Accounting

Reference no: EM132972631

During the trial, Mary K. Cline, senior auditor for Deloitte, Haskins and Sells stated:

"Well, we made a lot of judgments during the audit, and we were auditing the balance sheet as of May 31, and there was no reason in my judgment to look at this number after May 31."6

Problem 1: Should the oversale of lifetime partnerships be classified as a subsequent event?

Problem 2: Should Deloitte have evaluated the sales occurring after the balance sheet date of May 31, 1984?

Problem 3: Should L&H have been aware of the sales limits on lifetime memberships? If so, what should they have done about it?

Reference no: EM132972631

Questions Cloud

What is the total direct materials cost for miller company : Miller Company's total sales are $147,000. The company's direct labor cost is $17,640, What is the total variable selling and administrative cost?

What is the current value of one share : What is the current value of one share if the required rate of return is 10% - The company just paid its annual dividend in the amount of $1.00 per share

What are the specific risks associated with the venture : Every project comes with a degree of risk. What are the specific risks associated with this venture, and how can the centre mitigate these risks?

Impact of this difference on reported operating income : Explain the reason for any difference in the ending inventories under the two costing methods and the impact of this difference on reported operating income.

Should deloitte have evaluated the sales occurring : Should Deloitte have evaluated the sales occurring after the balance sheet date of May 31, 1984? Should the oversale of lifetime partnerships be classified?

Develop a forward-looking strategy or plan to ensure : Discuss the correlation between ethical standards and making the right decisions, and finally, develop a forward-looking strategy or plan to ensure these issue

Compute the tax for the al salary remuneration : Compute the tax for the $10,000 in salary and the remainder in dividends and All dividends and All salary remuneration alternatives

Explain digital marketing or direct marketing : 1. Businesses are increasingly using "influencers" for advertising on social media. Do you think it is better or worse than traditional advertising and why (exp

What is the dollar cost of using a forward hedge : What is the dollar cost of using a forward hedge? Make sure you state your position in the forward contract.

User Account

All Pages

Should deloitte have evaluated the sales occurring

Reference no: EM132972631

Reference no: EM132972631

Questions Cloud

Reviews

Write a Review

Managerial Accounting Questions & Answers

Manage budgets and financial plans

Prepare a retained earnings statement

Prepare a master budget for the three-month period

Construct the companys direct labor budget

Evaluate the predetermined overhead rate

Determine the company''s bid

Compute the pool rates for the different activities

Prepare Company financial statements

Prepare an analysis of terracycles

Discuss the ethical issues

Political resources in emerging markets

Management accounting - ehsan electronics company

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT