User Account

All Pages

Briefly summarize the major judgment areas for the companies

Assignment Help Auditing
Reference no: EM13886836

Provides examples of questions that an auditor should ask when assessing inherent risk relating to financial reporting. The first question asks, "What are the significant judgment areas (reserves, contingencies, asset values, note disclosures) that affect the current year financial statements?" Access the most recent financial statements of Microsoft, Dell, and Apple. For each com- pany, locate the footnote disclosure that would answer the question about significant judgment areas (often labeled as estimates and assumptions). Briefly summarize the major judgment areas for these companies, and comment on any differences that you observe.

Reference no: EM13886836

Questions Cloud

Refinanced loan versus staying with the original loan : A few years back, Dave and Jana bought a new home.
Explain the significance of the cobbler and the machine : Compare the messages about the influence of power on innocent people using "The Old Chief Mshlanga" and "I'm Not Talking About That, Now". Explain the significance of "The Cobbler and the Machine" as it represents the realities and consequences of ..
What is the economic depreciation of the combine : A combine used for harvesting corn was purchased new 6 years ago for $400,000 with the intention of using it for its full asset life of 25 years (when its salvage value would be zero). It has a book value of $125,543 and can be sold for $130,000 now...
What else might or might not change that affects profit : To increase a company’s performance, a manager suggests that the company needs to increase the value of its product to customers. Describe three ways in which this advice might be incorrect (Hint: Think about what else might or might not change that ..
Briefly summarize the major judgment areas for the companies : What are the significant judgment areas that affect the current year financial statements? Briefly summarize the major judgment areas for these companies, and comment on any differences that you observe.
Negative attitude about the products country of origin : The country of origin can influence a consumer’s perception of the quality of the product. What can a company do to overcome a negative attitude about the product’s country of origin?
Estimate the maximum speed that would result : Water exits a 1-cm-diameter outlet of a faucet. Estimate the maximum speed that would result in a laminar ?ow if the water temperature is (a) 20-C, (b) 50-C, and (c) 100-C. Assume Re ¼ 2000.
Formulas for marginal benefit and marginal cost : Suppose that you can schedule a worker for up to 10 hours per day. The total benefit and total cost functions are B(H) = 1200 × √H and C(H) = 200H. The corresponding formulas for marginal benefit and marginal cost are MB(H) = 600/√H and MC(H) = 200. ..
Focus on harvesting the lion fish for human consumption : Lionfish is an aquatic invasive species in the southeastern U.S. and the Caribbean. Current removal policies focus on harvesting the lion fish for human consumption. However, a fishing license is required to fish in most southern states

Reviews

Write a Review

 

Auditing Questions & Answers

  Explain type of audit

Show the reason for and the type of audit report that you would issue and consider that each item is significant.

  The two components of professional skepticism

1.The two components of professional skepticism are a questioning mind and a critical assessment of the audit evidence.

  Submit a feasibility report

You are required to submit a feasibility report. At a minimum level, your feasibility report should contain the following generic sections:

  Calculation of net realizable value-receivables

Accounts are closed and adjusted at the end of the year. Accounts receivable has a balance of $350,000 and the allowance for doubtful accounts has a balance of $15,000. What is the net realizable value of the accounts receivable?

  Identify the european countries with a public oversight body

Identify the European countries with a public oversight body for auditing and name the country's related body.

  Based on peach blossom cologne company

What are role and responsibilities of the internal auditor with regard to SOX and financial statement audit

  Relationships among the initial assessed control risk

Give one example in which the conclusions reached about internal controls in cash disbursements will affect the tests of cash balances.

  Diebold inc a public company is a maker of atms bank

diebold inc. a public company is a maker of atms bank security systems and electronic voting machines. research how

  From the following descriptions determine what type of

from the following descriptions determine what type of auditing procedure is being conducted1 the auditor watched two

  Audited financial statements covered by an auditors report

Show a qualified opinion on the financial statements because of the client imposed scope limitation.

  Audit and corporate scandals

Given the recent accounting scandals, how much confidence should the public really have in financial audits? mIn light of recent audit failures, are current audit standards sufficient to ensure the integrity of audit opinions? Why or why not?

  Question beststeel ltd has been the biggest metal pressing

question beststeel ltd has been the biggest metal pressing machine manufacturer in australia since 2005 when it

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd