Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Below are four independent client scenarios:
1. Colburn Pharmacy, Inc., has 77 stores located in the New England area. Approximately 60 percent of the inventory recorded on the balance sheet for the consolidated company is located at one of two distribution warehouses, which are in Boston, MA, and Hartford, CT. The remainder of inventory is spread across the 77 stores. The high dollar value items in the inventory consist of prescription drugs that are stored in secure areas both in the distribution centers and at the individual stores.2. Zenith, Inc., manufactures high end motorcycles in production facilities located in Pennsylvania and Wisconsin. During 2011, the company also opened major production facilities in India and Brazil. Each production facility receives raw materials that are then assembled into motorcycles. Manufactured motorcycles are stored at the production facilities until orders are received from dealers.3. Texide Electronics manufactures component parts that are used in their customers' computer and other electronic products. Given that customer products differ, each of Texide's products is designed uniquely for each customer's production process. Individual parts are quite small, and the interior components are not visible to the human eye. All inventory items are stored in Texide's only manufacturing plant.4. Food Giant is a regional grocery store chain located in the Pacific Northwest. Rather than operate a company owned distribution center, Food Giant uses five different independent storage warehouse companies across the region to store most of its grocery inventory before shipping to the individual stores. Typically, about 75 percent of the inventory is located at the storage warehouses with the remaining inventory located at one of Food Giant's 42 stores.Required:a. For each independent client scenario, describe issues the auditor should consider when determining which locations to visit to physically observe the client's inventory count.b. How would you determine which locations to visit?c. For each scenario, how does the type of inventory create potential risks of material misstatements in the inventory balances?d. How might the auditor address the risks noted in part c.
What is Financial auditing
Calculate the firm's average collection period. Calculate the firm's current receivables balance. Calculate the firm's new receivables balance if Milwaukee Surgical toughened up on its collection policy, with the result that all non-discount custom..
Please make a Statement of Revenues, Expenses, and Changes in Net Assets for the year ended 31 st December, 2012 assuming the city plans to account for its activities on the accrual basis
What is your view, giving a rational explanation to your view (you may use other sources to support your view, properly referencing). Why do you think that these measures were introduced?
Audit risk is a key consideration and guide to planning an audit - explain why and list the key components of the Audit Risk Model (ARM) and discuss how they interact?
clements amp partners are the audit firm of manufacturing co. and have been for 3 years. the audit firm is considering
Identify specific fraud risk present during PwC's audits of the Lipper hedge funds. Explain how Pwc should have responded to the fraud risk factors that you identified.
Make sure you cover whether an adjustment and or disclosure is required. You may need to consider also looking at accounting/auditing standards related to the specific items in each scenario.
What potential risks may be present in this engagement? What specific auditing and accounting problems appear to exist? What additional information do you feel you need to know about the company? Do you believe the engagement should be accepted or re..
diebold inc. a public company is a maker of atms bank security systems and electronic voting machines. research how
1. the components of teamcentral include which of the following?a. implementation trackingb. management dashboardsc.
Use one of the Internet browsers to search for the following terms: Audit evidence, Electronic data interchange and image processing systems. Tell us what each means and give us an example.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd