Adjusting events - audit process, Auditing

Adjusting Events - Audit Process

Adjusting events are those such give evidence of conditions such existed at the balance sheet date as the settlement of a court case than the balance sheet date that verifies that the entity had a present obligation at the balance sheet date; the bankruptcy of a customer such happens after the balance sheet date generally confirms such a loss existed at the balance sheet date on a obtainable.

An entity does not adjust the amounts well known in financial statements to reflect non-adjusting events than the balance sheet date.

Posted Date: 1/28/2013 2:14:58 AM | Location : United States







Related Discussions:- Adjusting events - audit process, Assignment Help, Ask Question on Adjusting events - audit process, Get Answer, Expert's Help, Adjusting events - audit process Discussions

Write discussion on Adjusting events - audit process
Your posts are moderated
Related Questions
Ask You are the senior auditor assigned to the team performing an audit for Restorative Pharmaceutical Corporation (RPC), a 10-year-old publicly held corporation listed on the New

strongest mediul of communication

Share Capital - Audit Process Share capital is a special type of liability and when it has been issued during the year then verification procedures are as follows: 1. Confirm

Checking consolidation papers The auditor pays particular attention to the calculation of: Goodwill arising on acquisition and consolidation Pre-acquisition and post-

You are auditing Pell grant provided to students at six state universities. The Pell grant program is a federal financial aid program for college students. The maximum grant a stud

Auditors Responsibilities with regard to related parties ISA 550 Related Parties states which the auditor should perform audit process designed to find sufficient suitable

Checking Consolidation Papers The auditor pays particular concentration to the calculation of: a) Goodwill arising on consolidation and acquisition b) Post-acquisition a

Audit Function The audit functions as follows as: 1. To verify the estimation of timing differences; 2. To ensure such permanent differences have not been got into accou

two advantages of an Audit to the shaire holders

Ask quesThe following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Co