Explain how an auditor defines

Assignment Help Accounting Basics
Reference no: EM13138827

Explain how an auditor defines or describes what a material misstatement would be for a particular client from both a qualitative and quantitative perspective.What is the audit risk model discuss each of the risk factors in this model and the relationships among them, how does the use of this model help the auditor asses how much evidence is required?

Reference no: EM13138827

Questions Cloud

Strategic change : What modes of strategy development are evident in Cordia, and which would you expect to be prevalent, given the strategic change described?
Basics record when recording the conversion : On June 30, 2009, half the bonds were converted when Blair's common stock had a market price of $30 per share. What journal entry should Blair make record when recording the conversion?
Find the standard deviation for the probability distribution : Day are 0.49, 0.39, 0.08, and 0.04, respectively. Find the standard deviation for the probability distribution. Round answer to the nearest hundredth.
Define finding values of a composite discrete time signal : Finding values of a composite discrete time signal, A discrete time signal x(n) = x(n-1) + x(n-3) with initial conditions x(0) = 0, x(1) = 1 and x(2) = 2 is examined and the first 51
Explain how an auditor defines : Explain how an auditor defines or describes what a material misstatement would be for a particular client from both a qualitative and quantitative perspective.What is the audit risk model discuss each of the risk factors in this model and the rela..
The condition on the sampling period is determined : Finding the periodicity in N of the discrete time signal x(n) = Cos(3pi*Ts.n + pi/4) and then plotting the discrete signal. From this the condition on the sampling period is determined
What score should be set as lowest passing grade : The passing grade such that the probability of passing a student who guesses on every question is less than 0.10. What score should be set as the lowest passing grade?
Explain moore sequential circuit : Moore sequential circuit, A Moore sequential circuit has one input and one output.The output goes to 1 when the input sequence 111 has occurred and the output goes to 0 if the input sequence
Calculate probability she will receive exactly : The probability Mary will receive an A in a class is 0.31. Assuming independence, if she is taking 5 classes this semester, calculate the probability she will receive exactly 3 A's.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Record the transactions in the journal

1. Record the transactions in the journal. 2. Prepare the statement of shareholders' equity for 20XX.

  What is the consolidated net income for 2013

Slaughter earned $220,000 in net income in 2013 (not including any investment income) while Bennett reported $90,000. Slaughter attributed any excess acquisition-date fair value to Bennett's unpatented technology, which was amortized at a rate of ..

  Prepare a 2011 statement of stockholders equity

The Cleaning Authority provides janitorial services for commercial customers. On December 31, 2010, the credit balance of the Common Stock and Retained Earnings accounts were $12,000 and $5,500, respectively. During 2011, the company issued $4,200..

  Estimated cash disbursements

Assuming a beginning cash balance of $2,000, estimated cash receipts of $105,900, and a desired ending cash balance of $3,500, then the estimated cash disbursements are:

  Actual selling and administrative expense

For the month of March, the company planned for activity of 5,700 units, but the actual level of activity was 5,660 units. The actual selling and administrative expense for the month was $522,860.

  Concept of accounting recognition

The management of Lopez estimates that this recall would cost $800,000. What accounting recognition, if any, should be accorded this situation?

  Prepare ensinada purchases budgets for wax

Ensnada Mfg. Co, rpoduces candles that contain four raw materials: wax, dye, scented oil and a wick. Each candle usues eight ounces of wax and one ounce of die, which Ensinada purchase for $0.15 and $0.02 per ounce, respepctively.

  Amount of gain or loss on redemption

Bonds payable has a balance of $1,000,000 and premium balance of $7,000. IF the issuing corporation redeems the bonds at 101. what is the amount of gain or loss on redemption?

  Error on the investment account

Hope mistakenly accounted for the investment as available for sale instead of using the equity method. What effect would this error have on the investment account and net income, respectively, for 2011?

  What type of fraud should be of interest to the auditor

Corporate fraud has become a hot topic in the accounting profession for the last several years. When conducting an audit, an auditor may encounter some corporate fraud.

  Derivative instruments and investment classification

Write down the differences between traditional and derivative instruments. Why do companies use derivative instruments? Are derivatives a good investment?

  Payback period of the project

The annual net operating income from the project would be $135,000, which includes depreciation of $37,000. The scrap value of the project's assets at the end of the project would be $25,000. The payback period of the project is closest to:

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!

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