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!
Summary of IAS 2
Inventories are measured at the lower of cost and net realizable value. Entire realizable price is the calculated selling price in the regular course of business less the estimated price of completion and the estimated price essential to make the sale.
Cost includes all costs of purchase, prices of conversion and another costs incurred in starting the inventories to their present position and condition. The cost of inventories, another than those for that particular identification of costs are suitable, is assigned through requiring the first-in than first-out (FIFO) or weighted average price formula.
Whenever inventories are sold, the carrying amount of those inventories is identified as an expense in the same period as the revenue. The amount of any write-down of inventories to net realizable value is identified as an expense in the duration the loss occurs or write-down. The total amount of several reversal of a write-down of inventories is identified as a reduction in the amount about the inventories identified as an expense in the period whether the reversal happens.
Fairness - Auditing The word fair can have the following meanings: on the other hand clear, plain and distinct and on the one impartial, equitable and simple. When fair is
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
discuss the factors affecting the sufficiency of audit evidence
With internal audit we always require to be careful of any manipulations within the company itself. Errors and frauds within the company cannot be denied /overlooked at any cost.
B. For the one activity/process you ranked the most significant, identify and evaluate four risks. a. Two of the risk should be high to medium significance, and at least one shoul
Existence - Plant and Machinery However this should generally be checked through physical inspection, so a problem arises. Items of machinery and plant can be numerous mobile
What are the engagement procedures of auditing
General advantages and disadvantages of joint audits Advantages: All work and fees are welcome to audit firms. An opportunity to closely inspect the auditing methods
Action if Management Refuses to provide Representations Whether management rejects to provide a representation which the auditor considers compulsory, this constitutes a scope
what are requirements for a company to comply with king code?
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: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd