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Question - Asian Airways is a new client of your audit firm. Its accounting policy for revenue is to credit to revenue received in advance, and subsequently transfer to revenue in the income statement when passengers or freight are uplifted, or when tours and travel air tickets and land content are utilised.
Your review of last year's financial statements indicates revenue from passengers represents 85 per cent of total revenue, but that this year there is a 6 per cent fall in revenue from passengers and a 12 per cent decrease in revenue from passengers in advance. You have read articles in the financial press which suggest an increased incidence of fraud due to the global financial crisis, and that the majority of these frauds are committed by company directors and senior managers.
Required - Explain why the revenue in income statements is at significant risk of fraudulent financial reporting by management.
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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