What does it mean to audit around the computer

Assignment Help Accounting Basics
Reference no: EM13123047

1. How might the senior audit manager or partner on a particular engagement determine how much cost is acceptable to incur in order to test a particular area? Can you think of any lower cost alternatives?

2. What does it mean to audit around the computer? What is required for this approach to be effective?

3. What's the difference between random error resulting from manual processing and systematic error resulting from IT processing? 

Reference no: EM13123047

Questions Cloud

What does it mean to audit around the computer : How might the senior audit manager or partner on a particular engagement determine how much cost is acceptable to incur in order to test a particular area? Can you think of any lower cost alternatives?
Explain how might it do so without being currently taxed : A U.S. manufacturer wants to conduct business through a foreign subsidiary organized in a low tax jurisdiction. Explain how might it do so without being currently taxed on the subsidiary’s foreign earnings?
Problem regarding debt investments : Debt investments are recorded at the : a. face value of the bonds purchased. b. face value of the bonds purchased plus interest. c. price paid for the bonds plus interest. d. price paid for the bonds plus brokerage fees
What does it mean to audit around the computer : How might the senior audit manager or partner on a particular engagement determine how much cost is acceptable to incur in order to test a particular area? Can you think of any lower cost alternatives?
Illustrate what is the company total tax liability : Illustrate what is the company's total tax liability to both jurisdictions for each of the two alternative transfer pricing scenarios?
Learn how to write a perfect essay : learn how to write a perfect essay
Question regarding graphing word problem : A montly cost of a long distance phone plan in dollars is a linear function of the total calling time in minutes. When graphed the funtion gives a line with a slope of 0.13.
How much cost is acceptable to incur in order to test : What's the difference between random error resulting from manual processing and systematic error resulting from IT processing?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the interst earned by todd company

The bond pay interest on march 1 and septmber1. on october 1,2012,todd copany sold $24,000 of lincoln company bonds acquired on may 1. plus one month accured interest.on december 31,2012, four omnyhs interst was acuured for the remaining bonds. De..

  Journal entry for property taxes and allowance

Prepare a journal entry for the taxes of Winston County's General Fund on July 1, 2005, the date on which the property taxes for the fiscal ending June 30, 2006, were billed to taxpayers.

  Prepare financial statements - painting service

Describe what entry must Sam's Painting Service make on December 31 before financial statements are prepared?

  Determining new pcaob reporting requirements

Examine different types of organizational illegal activities, including cybercrimes and the impact to the organization. Use technology and information resources to research issues in forensic accounting.

  Primary securities market and secondary securities market

What are the primary securities market and the secondary securities market? Identify two securities exchanges and how they influence trading and the investor.

  Computing the average collection period

Which of the following factors are used to compute the average collection period?

  What are internal controls

Explain some common internal controls that a company might have in place. What are they designed to protect? What are the reporting requirements regarding internal controls in the Sarbanes-Oxley Act?

  Exploring the fascinating topic of international accounting

Do you need to develop your own internal GAAP to manage the company? Let's get creative and brainstorm. There's no right answer here, just the opportunity to begin exploring the fascinating topic of International Accounting.

  Amount of return on investment and residual income

Compute the sales level that would generate a 20% return on investment. Supposing the rate of return is 15%, determine the level of sales that would generate $200,000 of residual income.

  Computing the pension expense

Bickner Company provides the following information about its defined benefit pension plan for the year 2010.

  Determining adequacy of allowance for uncollectible accounts

In determining the adequacy of the allowance for uncollectible accounts, the least valuable evidence would be obtained from

  Impairment of fixed assets

Which of the following statements concerning the impairment of fixed assets is true under US GAAP?

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