User Account

All Pages

What would the impact be on planned substantive procedures

Assignment Help Accounting Basics
Reference no: EM132652387

Question - Risk, Assertions, Materiality & Audit Strategy

Blue Cow is a long-established soft drink organisation, manufacturing a popular product for major supermarket chains. The audit of the company has been straightforward in the past, and the company has reliable suppliers and loyal customers. In addition, the directors and senior management are highly respected for their abilities and the strong ethical culture they inspire, as well as the excellent internal controls they demand.

The company only sells one product - a 300ml can, which has historically been priced at a 331/3 % markup on cost, yielding a gross profit percentage (GP%) of 25%. In the past any variations on the GP% have never been outside the range of 24% to 26%.

Using the three components of audit risk (control, detection & inherent risk) what would the impact be on planned substantive procedures?

Reference no: EM132652387

Questions Cloud

Determine the total dividend that conifers ltd will pay : Determine the total dividend that Conifers Ltd will pay per share in 2020. Conifers Lid, a tree relocation company, follows stable plus special dividend policy
Eventually come to thermal equilibrium : Describe an example from your everyday life of two objects/substances that are different temperatures, but left alone, eventually come to thermal equilibrium.
Determine amount of earnings available to common shareholder : Determine the amount of earnings available to common shareholders that could be paid out as a divided according to the residual policy.
Find approximate noi of the property-extell development : How much was the approximate NOI of the property (land and building)?
What would the impact be on planned substantive procedures : Using the three components of audit risk (control, detection & inherent risk) what would the impact be on planned substantive procedures
Promoted variety of health topics extensively : For more than 25 years the media has promoted a variety of health topics extensively.
What is the debt ratio for jordan manufacturing reports : What is the debt ratio for Jordan Manufacturing reports? Premium on common stock 180,000. Deferred income taxes 10,000. Preferred stock 80,000
Estimate the market value of pg equity : Estimate the market value of P&G's equity following the two-stage dividend discount model and showing the following details.
What are the relevant entries for the IS and BS : Stationery expense sitting in operating expense is R2000 (not sure if this is related to the above) What are the relevant entries for the IS and BS

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

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

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

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 and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd