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Plant and Machinery - Valuation and Authorization
Valuation
Valuation is at depreciated historic costs. Auditor's duty is to make sure that the accounting policy for depreciation is suitable. Assuming an example whether the diminution in value of an asset is related largely to time it would not be suitable to require a reducing balance method since rather straight-line method should be required. The auditor has to make sure about the accounting policy is in accordance along with IAS 16. Whether he has to consider the needful lives of the assets are suitable and he has to verify that the calculations are correctly made.
Authorization and Cost
Significant plant and machinery acquired during the year is vouched to supporting documentation such as supplier's cash books, local purchase orders, invoices, approved budgets, etc. The auditor must ensure which the related expenditure that as carriage inwards, installation charges have been involved as suitable.
IAS 12 Income Taxes 1AS 12 needs a deferred tax liability should be well known for all taxable temporary difference with minor exceptions as goodwill that is not allowable for
What is the meaning of it?
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what is statutory audit and private audit
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Key Audit Areas - Building Society 1. The auditor must examine the process for checking deeds on receipt from the lawyers to ensure such they are complete in accordance along
Length: 2000 words Submission method options Alternative submission method Task Question 1 (5%) Case: Battersby and Associates Chartered Accountants is a successful mid-tier ac
i have assignment
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
Existence - Audit Process In the case of tangible assets existence is confirmed through the auditor visually, considering the asset examining and concerned its condition. Thi
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