Internal audit department and financial statements, Financial Accounting

1.  What cost flow assumption does the company use to value inventories?

2.  What was the amount of expense that the company reported for inventory write-downs during 2011?

3.  What amount of raw materials, work in process, and finished goods inventory did the company report at April 30, 2011?

4.  How does the approach used by Zetar Plc to values its inventories differ from US GAAP? (You need to go beyond the cost flow assumption used).

5.  Which committee of the Board of Directors is responsible for considering management's report on internal controls? (See the Corporate Governance section of the Annual Report)

6.   Does the company have an internal audit department?

7.   In what section or sections of the balance sheet does Zetar Plc report its bank overdrafts?

8.   According to the "Operational Review," what was one reason for the decline in the trading performance of the Snacks Division in 2011 relative to the previous year?

9.   According to the notes to the financial statements, how are loans and receivables defined?

10. Using the information in the notes to the financial statements, determine what percentage the provision for impairment of receivables was as a percent of total trade receivables for 2010 and 2011. How did the ratio change from 2010 to 2011, and what does it suggest about the company's receivables?

Posted Date: 2/18/2013 8:15:54 AM | Location : United States







Related Discussions:- Internal audit department and financial statements, Assignment Help, Ask Question on Internal audit department and financial statements, Get Answer, Expert's Help, Internal audit department and financial statements Discussions

Write discussion on Internal audit department and financial statements
Your posts are moderated
Related Questions

Aristo Ltd uses a system of absorption costing. The product passes through a machining department and an assembly department before it is completed. The assembly department is labo

Completed executions A judgement creditor cannot retain the "benefit" of an execution or attachment, unless he has completed it- Before the date of the receiving order,

Q. Standards for Accounting and Review Services? Statements on Standards for Accounting and Review Services (SSARS) - Statements issued by AMERICAN INSTITUTE OF CERTIFIED PUBLI

Effect of discharge An order of discharge releases the bankrupt from all disabilities imposed by the bankruptcy (except those which apply for a fixed period after discharge - s

Requirements: a.   Record the following transactions in the journal of Howell Consulting. Explanations are not required. b.   Create T accounts for each transaction (Use the

USING PROPER ILLUSTRARTION,ELLOBORATE ON THE REGULATORY FRAMEWORK THAT SUPPORTS FINANCIAL REPORTING IN NON PROFIT ORGANISATIONS.

How do I compute the selling price of a callable bond? I have the bond selling price if it isn''t callable, but I don''t know how the callable feature impacts the price.

An investment has a 92% chance of making a profit of $10 million, a 1.5% chance of losing $4 million, a 3% of losing $6 million, and a 3.5% chance of losing $16 million. A)    W

Partners F and G receive an interest allowance of $10,000 and $15,000, respectively, and divide the remaining profits and losses in a 3:1 ratio. If the company sustained a net loss