Checking consolidation papers, Auditing

Checking consolidation papers

The auditor pays particular attention to the calculation of:

Goodwill arising on acquisition and consolidation
Pre-acquisition and post-acquisition profits
Minority interest
Treatment of intercompany profits in stocks
Agreements of intercompany indebtedness
Necessary cancellations in respect of intercompany cash in transit
Turnover, excluding group trading
Necessary adjustments in respect of group companies with different accounting period end.
Taxation

The consolidated accounts must comply with all relevant accounting and legal requirements.

Related Discussions:- Checking consolidation papers

Define master data management, (a) Define each of the following four concep...

(a) Define each of the following four concepts. -Master Data Management -Data Quality -Data Governance -Cloud Computing Explain how they relate to the various Busine

Demonstrate knowledge of the current tax and auditing , A municipal village...

A municipal village or a nonprofit organization solicits bids for the annual audit from local audit firms, and the firm with the lowest bid is selected. Answer the following que

Joint audit, what is a joint auditor

what is a joint auditor

International auditing and assurance standards board, The International Aud...

The International Auditing and Assurance Standards Board The IAASB is a Board familiar by IFAC. The associates of the IAASB are selected by the IFAC Board to serve on IAASB. IA

International, International, Assurance Auditing, Standards Board (IAASB) ...

International, Assurance Auditing, Standards Board (IAASB) The prologue to the International Standards on Quality Control, Auditing, Assurance and Related Services is issued to

Reference to expert in the auditor''s report, Reference to an expert in the...

Reference to an expert in the Auditor's Report When issuing an unmodified auditors report, the auditor should not refer to the work of the expert. This is because such a refe

Reliability of an audit, Is an audit 100% guarantee?

Is an audit 100% guarantee?

Calculate the loss suffered by the shareholders, In June 2004, Feltex Carpe...

In June 2004, Feltex Carpets Limited raised NZ $254 million in an initial public offering. Twenty seven months later the company was in receivership, its share price having collaps

management functions and the audit, Describe the management system within ...

Describe the management system within your case study business. Assess the risk of fraud in this business, and suggest methods for detection Management system in this ca

Comparison of the negative and positive methods, Comparison of the Negative...

Comparison of the Negative and Positive Methods Negative Method According to this method of circularisation, the customer is asked to communicate only when he does not ag

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages