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!
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. As IAS 16 states which freehold land should not be depreciated except in the event which the reduction in value is because of depletion through assuming an example mining or because of changed economic circumstances. The cause for not depreciating freehold land is simply apparent where one looks at the definition of depreciation.
Depreciation is the portion of historic costs over the needful life of the asset. As freehold land has no finite needful life, then there is no basis for calculating depreciation. Freehold buildings have been depreciated and the auditor might check which the estimated needful life is reasonable and which the calculations have to be correctly made. Therefore the split between freehold buildings and the land on such land must be established being reasonable.
advantage and disadvantage of joint auditor?
Stock Taking - Audit Process The procedures for carrying out physical stock taking vary in detail according to the circumstances and size of the business and the life of its
Q. Walkthroughs for auditor? Walkthroughs provide the auditor with evidence to: 1. Confirm auditor's understanding of the process flow of transactions. 2. Confirm auditor
Business Risk Analysis Business risk can be analyzed between external and internal risks: External risks: Changing legislation (e.g. minimum wage) Changing inter
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
Ask question #MA. Evaluate the strengths and weaknesses of preview Company''s control environment B. What factors in Preview company''s control environment have led to and facilit
Plz assist me with these questions The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is now
Your firm has recently been appointed auditors of the Social Transport Corporation and you are commencing the audit of the wages system. The Corporation has about 2500 employee
Verification Procedures - Investment Verification actions should follow the common approach outlined in favor of tangible noncurrent assets. Conversely the following particula
Process to Adopt Liabilities It is significant that the auditor realises which such liabilities can exist and he should obtain reasonable steps to unearth them whether they ex
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd