Account balance - inherent risk, Financial Management

Account balance - Inherent risk

At account balance / class of transaction level

  • Balances susceptible to misstatement.
  • History of errors.
  • Complexity of transactions.
  • Degree of judgement involved in determining account balances.
  • Susceptibility of assets to loss or misappropriation.
  • The quality of accounting systems.
  • Unusual or complex transactions at year end.
  • Transactions not subject to normal processing.

 

Posted Date: 9/3/2013 3:26:31 AM | Location : United States







Related Discussions:- Account balance - inherent risk, Assignment Help, Ask Question on Account balance - inherent risk, Get Answer, Expert's Help, Account balance - inherent risk Discussions

Write discussion on Account balance - inherent risk
Your posts are moderated
Related Questions
What do financial managers look for when they analyze pro forma financial statements? After the pro forma financial statements are finished, financial managers examine the

Suppose the government wants to limit imports of a certain good.  Is it preferable to use an import quota or a tariff?  Why? Modification in domestic consumer and producer surp

Are there any legal factors which could restrict a corporation in its effort to pay cash dividends to common stockholders?  Explain. A firm might be legally restricted as to the

Public Provident Fund (ppf) The Public Provident Fund (PPF) scheme was started in 1968-69 with the aim to provide a financial instrument to workers in the unorganized sector to

The issuer's right to call back the issue before the maturity date is referred to as a "call provision". In case of asset-backed securities, the trustee is grante

If you are doing PVA and FVA problems, what difference does it make if the annuities are "ordinary annuities" or "annuities due"? In PVA or a FVA of annuity due trouble, annuit

Peter Drucker gave five rules for acquisitions to be more successful. Contribution e.g. the acquirer can add value to the target organisation other than just providing mone

a. Calculate expected earnings per share (EPS) if the firm is perfectly hedged. EPS $

What are some of the government requirements imposed on a public corporation that are not imposed on a private, closely held corporation? Public corporations ought to tender au

The cash flows from a portfolio of US standard mortgages have the characteristic of being uncertain. The cash flows from the mortgage consists of three comp