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Firm valuation refers to the total value of a firm in the capital market. It is the stock price of a firm times its outstanding shares. Total value of a firm is also called market capitalization or market cap. For example, on March 16, 2012, the market cap was $41.43 billion for Las Vegas Sands, $12.73 billion for Marriot, 10.99 billion for Starwood, and $99.47 for McDonald. The market cap of a firm changes constantly because the stock price changes frequently. Rising stock price or rising market cap (for given outstanding shares) evidently is good news for the stockholder. It increases the wealth of the shareholder. In essence, the goal of a firm is to maximize the value of the firm. The management of a hospitality firm should always do its best to enhance the owner or shareholder's wealth by enhancing the stock price of the firm.
Valuation - Auditing Process IAS 16 requires that all assets for use through the business have been valued on the basis of depreciated historic costs along with one exception.
Recording the Audit - ISA 230 Purpose of working papers It is necessary which all audit work is documented - the working papers are the tangible evidence of the work co
Reserves - Audit Process Movements in reserves need disclosure in the balance sheet, the loss and profit account, the director's reports or in the notices to the accounts. The
Brand Names - Audit Process Few companies in current years have placed valuations on the brand names of the goods such they sell. On the balance sheet the valuation is shown.
Managements interest in the accounting system Management needs complete and accurate books of accounts because: There is no other way the business can be controlled; Rec
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
Information in the Fixed Assets Register The register can obtain the following information: i. Fixed asset number. ii. The cost and the date of purchase. iii. Descrip
IAS 36 Impairment of Assets It is very necessary for the auditor to determine the client's method for determining and accounting for impairments. Corresponding IAS 36, 'impai
Simple Trust - This type of TRUST is essential to distribute all its income currently, whether or not the TRUSTEE actually does so and it has no provision in trust instrument for c
In a financial audit, management assertions or financial statement assertions is the set of information that the preparer of financial statements (management) is providing to anoth
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