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Prepare a maximum 700-word informal memo and explain to Mr. Skaros why his production cost report showed only 2,000 equivalent units in ending inventory
Explore the topic of audit failure, in professional articles and in materials release by the SEC and the PCAOB. Explore current thinking about causes and cures.
Briefly explain the rules of debits and credits as they relate to assets, liabilities, equity, revenue, and expenses. Do debits always increase an account?
Describe the different kinds of fraud and the Fraud Triangle, an auditor's responsibility to identify and assess fraud.
Discuss the impact of Sarbanes-Oxley on a company's internal controls. Be sure to define internal controls and discuss the basic principles for assessing intern
How could you have improved teamwork and collaboration? Are there ways you would have approached a project of this magnitude differently if you did it again?
What is the point of breaking the CF Statement into categories? Can't you figure it out simply by looking at a comparative Balance Sheet?
Analyze what an Unadjusted Trial Balance is, and the relationship between Unadjusted Trial Balance, adjusting journal entries, and the Adjusted Trial Balance.
In terms of risk, how do the tax-exempt securities used to pay for the building compared to a conventional municipal bond issued by Traverse County?
What are government bonds and how they are accounted for? Be sure to explain face value, premiums and discounts, and issue costs.
Calculate the WACC given the above assumptions. Indicate how these might be useful to determine the feasibility of the capital project.
Discuss audit sampling for tests of details of balances and for tests of controls and substantive tests of transactions. How do they differ?
Discuss the legal rights, responsibilities, and liabilities involved when the accounting function is asked to take action(s) that may be inconsistent.
How a finished product is put together. You can do the same thing with finished articles and reports to see how they're organized.
Submit a one page case review of the assigned NPR Podcast. What did they do wrong/right? How do these lessons potentially make you a better entrepreneur?
Why do accountants use the accrual-basis method instead of the cash basis method of accounting? What are some of the benefits of using accrual accounting?
Discuss the importance of managerial accounting as "decision-making tool" in your organization.
Analyze the accounting requirements for the business combination method you selected. Prepare consolidated financial statements for the date of acquisition.
Explain to Davis Skaros clearly why your report is accurate. What equivalent units are and how they differ from completed units in inventory.
Discuss the meaning of "internal control" in the context of accounting. Then share five examples of internal control procedures designed to prevent fraud.
Examine the negative results on stakeholders and the financial statements of an IRS audit which generates additional tax and penalties or subsequent audits.
explain why deferred tax assets and liabilities are recognized and reported on a corporation's balance sheet. Include a discussion of valuation allowance.
Prepare a memorandum for the owners/management of BeGood outlining the following: The value of an AIS and how it can be used to facilitate growth at BeGood.
What nonfinancial issues are at stake with this issue? Explain cost dilemma with regard to correcting this issue if additional funds are deemed necessary.