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Question: Sampling and nonsampling risk for substantive testing Fred Hutchinson is auditing revenue for Urban Homes, a home builder in California. Urban Homes usually has between 450 and 600 home construction projects going at any point in time, for between 300 and 500 customers. Urban Homes recognizes revenue on a percentage-of-completion basis. Fred has to determine the appropriateness of revenue recognition for Urban Homes. Fred has previously tested controls and assessed control risk as moderate.
Required: a. What population(s) would be relevant to Fred's substantive tests of revenue recognition?
b. Explain the potential implications of sampling risk for the audit of revenue recognition.
c. What possible nonsampling risks exist in this case?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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