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Task: Prepare journal entries to record these selected transactions for Vitalo Company.
Explain how the new deposit will affect the bank's balance sheet and reserve requirements
What concept does this standard provide guidance concerning, and what standard does it supercede? What is the effective date of the standard?
Q1. What are bad debts in dollars currently and under the proposed change? Q2. Calculate the cost of the marginal bad debts to the firm.
What additional questions should you ask Mr. Gemstone in an attempt to substantiate the deductibility of the above items?
I need assistance in performing a strategic audit, namely analyzing all strategy aspects of Hewlett-Packard, Inc.
The IRS audited the tax returns of Darryl Strawberry, a former major league outfielder.
What repayment will you now receive under each of the two outcomes? What is the expected value of these repayments?
The bank shows a balance of $320.10. A $621.61 deposit was not recorded. Prepare Kayla's bank reconciliation.
How should Sondergaard determine the interest revenue for 2007 on the: 1. Interest-bearing note receivable? Why?
Describe how you would recruit for applicants for this position. You should consider internal as well as external candidates.
What are the implications to the organization? How can the auditor mitigate these risks and liability factors?
A client has an out-of-control system and a recommendation has been made to hire an internal accountant.
Since the Securities and Exchange Commission (SEC) requires publicly traded companies to be audited by an external CPA firm
Identify the deficiencies in this draft, and state how each deficiency should be corrected.
What are the advantages and disadvantages of the primary types of auditor? There are several types of auditors, the most common types of auditors are:
I want some assistance design tests of controls, substantive tests of transactions, and analytical procedures for the Payroll and Personnel cycle.
Compare the relationships among auditor, client, and external users. How do professional standards for CPAs govern these relationships?
Identify what items of collateral CDI can offer to the Bank. Identify by name or category all secured and unsecured credit or debt that CDI or Mike has now.
In a 2 page analysis report critically review the CAMELS rating system for assessing bank performance.
When evaluating the planned level of substantive tests for each significant financial statement assertion
Identify two tasks that need to be accomplished in the framework for developing an audit program.
The audit committee is comprised of directors, not managers, and their job is to appoint, retain, oversee, evaluate and terminate the audit firm.
What instructions should be given to be the bank regarding the need for cash transfers
Define auditing, attest, and assurance services. Provide two examples of each type of service.