Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Audit Procedures -Research and Development
The auditor should ensure that:
a) Any costs incurred in the buy of fixed assets in order to give facilities for development and research over a number of accounting years are to be written and capitalized off over their needful lives.
b) Expenditure on research has to be written off as it is incurred.
c) Development expenditure has be written off as it is incurred except also in the very unique circumstances mentioned above. Whether development costs are as defined, they should be amortized on the basis of sales or need of the process or product. The amount deferred must be reviewed each year and whether there are any worries as to its recoverability, whether it should be written off immediately. Research and development once written off expenditure must not be reinstated.
d) Movements and balances of deferred development costs must be fully disclosed in the accounts as a separate item and not included in current assets. The accounting policy adopted must be fully explained. The movements such need to be disclosed are: the balance on the start of the year, additional expenditure during the year, less expenditure written off during the year and the amount carried forward.
Insurance Companies Authoritative documents involved as: The Insurance Act The Companies Act IFRS 4 Insurance Contracts The major legislation governing insu
(a) State the FIVE threats contained within Auditor's Code of Ethics and Conduct and for each threat list ONE example of a circumstance that may create the threat. (b) You a
2 pages
Statutory Audit is a mandatory audit done by a CA. Finance Audit is conducted by the CA to compliance the legal supplies of monitory issues. If the audit for a business or an orga
postage stamps 220 currency and coins 1156.60 how much petty cash fund shall be shown as part of cash balance
what difference between risk assessment procedure and substantive procedures? could you please provide some examples on each procedure?
Recognize the Related Parties The auditor should review information provided through the management and directors recognize the names of all identified related parties and sho
Relevance The auditor obtains evidence either through compliance testing of the internal controls or through substantive tests of the information contained in the financial sta
The agency relationship between absentee owners and managers produce a natural conflict of interest.what does it mean?
Wal-Mart Locate the 2009 Form 10-K for Wal-Mart in Appendix A and consider the following questions: 1. With respect to the report of the external auditors to "the Board of Directo
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd