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Furniture, Fixtures and Disposal of Non-Current Assets
Furniture, fixtures and fittings
The only matter here to note is the depreciation of fittings and fixtures. Since of their nature, this is mostly done on replacement basis than calculated and then charged on an annual basis. However the initial cost is capitalized and several subsequent replacements are charged to the loss and profit account as they are happen. Furniture is depreciated simply like and machinery plant.
Disposal of Non-current Assets
The matter here is authorization for disposal and the rejection of the assets related from the records. The auditor tries to make sure which the value obtained was reasonable either through looking on valuations obtained independently also from professional value's previous to the disposal and looking at the book value of the asset and concerned values for assets of such nature.
Judgmental Sampling Judgment sampling is where the auditor using his own experience and knowledge of the client's business and circumstances selects the sample to be tested wi
what is internal audit standardizes.
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Ask quesThe following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Co
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Government has recently set up a parastatal body responsible for waste management in Mauritius. The management is unsure as to the need for an audit and the setting up of an intern
Q. Explain the Single Audit Act? Single Audit Act - Single Audit Act of 1984 and Single Audit Act Amendments of 1996 establish requirements for audits of states, non-profit org
Beneficial Ownership and Existence Existence Existence of buildings and Land is not hard to display. You may even be sitting in such building. Conversely, the audito
Share and deposits Shares may consist of subscription shares and paid up shares. Interest on shares might be credited to the accounts rather than being paid to ensure proper co
Common stock valuation 1. Features of common stock (You may review common stock learned from TCA 221) a. Residual claim on income and assets (after debt holders and preferre
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