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You are one of the three partners in a firm of accountants. Five years ago, the firm was appointed as external accountants to a young, successful and fast growing company, engaged to prepare year end accounts and tax returns. The business had started trading with a handful of employees but now has a workforce of 200, while still remaining below the size of company requiring a statutory audit.
Due to close relationship with the directors of the company (who are its owners) and several of its staff, you became aware that staff purchases of goods manufactured by the company are authorized by production managers, and then processed outside the accounting system. The proceeds from these sales are used to fund the firm's Christmas party
Problem 1: How is integrity a threat here and what should the accountant do regarding this issue?
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The summary should describe the major points of the article, and the reaction should demonstrate your interpretation of the article and how you can apply that knowledge.
All raw materials used were traceable to specific batches of product. Austin Company's cost of goods manufactured for the year is
Prepare the journal entries when the contract is signed in January 2, 2014 and at December 31, 2016, for those contracts
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Problem 1: Find the average time in the line if 2, 3, and 4 clerks are used. Problem 2: What is the total time spent waiting in line each day if 2, 3, and 4 clerks are used?
Equipment that cost $80,000 and has accumulated depreciation of $63,000 is exchanged for similar equipment with a fair value of $35,000 and $15,000 cash is received. The exchange lacked commercial substance.
hnak itzek manufactures and sells homemade wine and he wants to develop a standard cost per gallon. the following are
Do you feel comfortable preparing Ed's taxes - prepare the taxes since you have your degree in accounting
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