Ron smith became the new ceo of peak ltd

Assignment Help Managerial Accounting
Reference no: EM13984715

A) Ron Smith became the new CEO of PEAK Ltd, until he died unexpectantly. After his death, his daughter Amy became the new CEO of PEAK Ltd and embarked on a cost cutting exercise, which included a reduction in key staff in the credit department.

B) During the planning stage of the audit of PEAK Ltd, the audit senior assessed the sales control system to be effective. But when testing sales, the audit assistant traced 2 sales to supporting documentation (invoices) with dates for the prior financial year. For each of the two situations described above, please complete the following:- 

SITUATION A - Outline briefly why the situation constitutes an audit risk. List and explain the component of the audit risk model affected. Indicate the key account balance(s) affected. Indicate the audit assertion(s) to be tested. 

SITUATION B - Outline briefly why the situation constitutes an audit risk. List and explain the component of the audit risk model affected. Indicate the key account balance(s) affected. Indicate the audit assertion(s) to be tested.

Reference no: EM13984715

Selected accounts included in the property

Selected accounts included in the property, plant, and equipment section of Faulty Corporation's balance sheet at December 31, 2017, had the following balances: Land $ 400,000

Discuss the value of classifying costs by activity category

Discuss the value of classifying and reporting costs by activity category. Calculate the total manufacturing cost to produce 20,000 units of the deluxe model. Present the tot

Define business processes and determine systems requirement

What a Baker does? Discuss the business activities/processes of the organisation to show your understanding about the business and What outcomes are required from these proces

What is a managerial accounting model

How can we reconcile the two statements? What is a managerial accounting model? Read the article and comment on some aspect of the discussion in an attempt to shed some ligh

Calculate expected profit and rate of return on investment

Calculate the expected profit and rate of return on investment for each division and for the company as a whole in the coming year, if Division B purchases its motors from D

Show supporting computations for each entry

Prepare, in general journal form, all entries Roesch should have made in its accounting records during August 2008 relating to this lease. Give full explanations and show su

What is the incremental benefit to the company

What is the incremental benefit (cost) to the company of sugar-coating the peels rather than selling them in their condition at the split-off point and What is the increment

S la quintas strategy one of product cost leadership

Is La Quinta's 2008 strategy one of product differentiation or cost leadership? Explain briefly. Indicate two measures you would expect to see under each perspective in La Qui

Reviews

Write a Review

 
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