Why do auditors find it necessary to use sampling what

Assignment Help Accounting Basics
Reference no: EM13389468

Why do auditors find it necessary to use sampling? What are the risks associated with sampling? How might these risks affect the audit conclusion?

Reference no: EM13389468

Questions Cloud

Describe the market and manufacturing requirements which : 1. is pac affected when changing from mrp to jit? explain.2. discuss the market and manufacturing requirements that
Why do auditors have to consider the internal controls of : why do auditors have to consider the internal controls of the organization? what are some key elements of internal
Describe how market economic system works to answer : explain how the market economic system works to answer the fundamental economic questions. explain how this may differ
Explain the importance of defining the population when : what is the importance of defining the population when performing audit procedures? how would defining the population
Why do auditors find it necessary to use sampling what : why do auditors find it necessary to use sampling? what are the risks associated with sampling? how might these risks
An auditor must not only appear to be independent but must : an auditor must not only appear to be independent but must also be independent in fact. research the concept of
You plan to hold a weekly breakfast meeting with your team : within the discussion board area write 400-600 words that respond to the following questions with your thoughts ideas
Fully describe what the most likely outcome would be in : the state of california recently considered passing a tax on the services of doctors in that state in order to raise
The national advertising division nad holds advertisers : marketing communications professionals often enough to make decisions based on ethical standards.the american marketing

Reviews

Write a Review

Accounting Basics Questions & Answers

  Computing the pension expense

Bickner Company provides the following information about its defined benefit pension plan for the year 2010.

  Money market-capital market

Compare and contrast the characteristics features of the securities of money market with those of the capital market.

  Bonds have the same nontax characteristics

Hugh has the choice between investing in a City of Heflin bond at 5.55 percent or a Surething bond at 8.85 percent.

  Compute an estimated fair value for any goodwill

Compute an estimated fair value for any goodwill associated with Kivi purchasing Gas N' Go. Base your computation upon an assumption that Kivi's management expects excess earnings to continue for four years.

  Capital improvement phase of the project

The governing body of the Order decided that it was no longer feasible to operate the convent, which had been built about sixty years ago, so it was advertised locally for sale.

  Direct materials cost and direct labor cost

What term is commonly used to describe the concept whereby the cost of manufactured products is composed of direct materials cost, direct labor cost, and factory overhead cost?

  The total of the individual customer account balances

the total of the individual customer account balances should equal the balance in accounts receivable which is

  Problem related to inception of the lease

Assume Mid-South Urologists Group leased the lithotripter directly from the manufacturer, Rand Medical, which produced the machine at a cost of $1.7 million. Prepare appropriate entries for Rand Medical from the inception of the lease through the ..

  Company wants an ending inventory

Carson Inc., a retail establishment, expects sales of $500,000 of a particular item in March. Its gross profit percentage is 60 percent. The ending inventory in February of this item cost $40,000 and the company wants an ending inventory of $38,00..

  Deducting as an ordinary loss

she contributed an additional $20000 to the corporation to help them. How much of her loss may she deduct as an ordinary loss?

  Budgeted total industry sales

Paquindo Co. has two products: X and Y. The firm had the following budget and operating results for the period just ended. The budgeted total industry sales for both products was 324,800 units and the actual industry sales was 350,000.

  Unit contribution margin-contribution margin

Calculate both the unit contribution margin and contribution margin, and prepare a contribution margin statement.

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!

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