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What are management assertions? How do they affect the financial statements? How does the auditor formulate audit objectives based on management assertions?
Can materiality be quantified? If so, how? What are the three steps of applying materiality to an audit? What factors should be considered when allocating materiality to an account balance?
Select a current event article related to small business, tax or accounting. Provide the link to the article and then summarize your thoughts on the article. Post one discussion question relating to your article for the class to discuss.
Describe the following trade controls: Tariffs, subsidies, and quotas. How do these trade controls affect relationship of trading partners and what is their value in international business.
Please describe the accounting treatment when a company purchases less than 20% of another company's stock. Please describe how revenue and dividends are treated when the equity method is used.
Which of the following would an auditor most likely use in determining the auditor's preliminary judgment about materiality?
Larsen Company makes and sells a single product, widgets. Three pounds of clay are needed to make one widget-How much clay should be purchased in September?
From this information, compute the equivalent units of production for direct materials and conversion costs for the month. Use the FIFO costing method.
How much is debt service funds for payments of principal over the life of the bonds? How do you report the other?
Develop a memo to Texaco Inc’s chief accountant indicating the appropriate income tax allocation required for the above items, comprising the appropriate balance sheet presentation.
Make journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases
For each of the following items, indicate whether it would be classified and reported under the operating activities (OA), investing activities (IA), or financing activities (FA) section of a statement of cash flows:
Explain the concept of “business ethics”. Critically discuss the term “complex ethical dilemma”. Reviewing the real life situations mentioned in the document Complete Guide to Ethics Management:
Calculate the total drill and blast cost based on the blasting costs
Prepare the adjusting entry (if any) for 2007, assuming the securities are classified as trading. Prepare the adjusting entry (if any) for 2007, assuming the securities are classified as available for-sale.
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