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In the organization that you researched, recommend preventive measures to prevent skimming and cash larceny types of fraud from reoccurring.
Divisions and Product Lines may be discussed in the MD&A section. What audit and internal control issues may arise in these areas as you consider.
How would the auditors demonstrate that all the accounts that suffered losses (actual accounts and potential accounts were reviewed?
Discuss the reasons for consolidation of the company's VIE(s). The effect of the consolidation of the VIE(s) on the company's financial statements.
Describe the accounting for any non-controlling subsidiary interest and any other business combination-related items in the consolidated statement of cash flows
Adjusted Trial Balance: Prepare the adjusted trial balance on the Trial Balance tab, ensuring that the debit and credit totals match.
Discuss the steps Perez, Chambers and Powers should follow with regard to dealing with a predecessor auditor and a new client before accepting the engagement.
Prepare the journal entries for only these transactions. Statement of shareholder equity. Prepare the balance sheet.
Discuss the primary factors that contribute to fraudulent activity. Consider how the GAAP and IFRS principles apply to the example you selected.
Discuss the special points that should be kept in the mind as an auditor for developing an audit programme.
What does net income mean on the income statement? If I have enough cash at the end of the month then I assume I made money.
Consider the following statement: The fewer the uncollectible accounts, the better. Can you think of instances where this might not be the case?
Discusses the impact that regulations, accounting, and auditing standards have on the ethics of accountants and auditors.
Suggest the critical tax issues the client should consider in determining the deductibility of the net operating losses.
Discuss why you think the historical cost approach best values the long-term assets on balance sheet. In addition, provide an example to support your position.
Which type of accounting is the manager using, financial or managerial? Explain.
What costs are involved with complying with Sarbanes-Oxley? Do you think that SOX is worthy of its cost to implement? Do you think the benefits outweigh them?
What is the role of the accounting equation in the analysis of business transactions? Include in your post that you attended the live lecture.
What does the term material misstatement mean? Does auditor indicate and highlighted any information about material misstatement in annual report?
Identify the causes of the change in each of these accounts. Discuss the implications of each of these account changes, and your assessment of the company.
When prices are rising, would you choose a FIFO or weighted average cost flow assumption? Would your choice be the same if prices were falling?
Why should the responsibility for maintaining the accounting records be separated from the responsibility for operations?
What do you learn about your CAFR entity from the Government Wide Financial Statements?
Maria is a resident of Brazil. Maria was present in the U.S. for 360 days in 2019, 330 days in 2020. Is Maria a U.S. resident for U.S. tax purposes in 2021?