Non-adjusting events - audit process, Auditing

Non-Adjusting Events - Audit Process

Non-adjusting events are those that are indicative of conditions such arose than the balance sheet date as a decline in the market price of investments among the balance sheet date and the date whenever the financial statements are authorized for matter.

For all material classes of non adjusting event after the balance sheet date, and an estimate of its financial effect and an entity discloses the nature of the event.

Dividends declared than the balance sheet dates are not known as a duty at the balance sheet date.

Financial statements are not prepared on a going to relate basis whether arrangement determines after the balance sheet date either such it intends to liquidate the entity or to cease trading, or such it has no realistic alternative however to do so.

The financial statements disclose the date whenever the financial statements were authorized for matter, and who provided that authorization.

Posted Date: 1/28/2013 2:15:23 AM | Location : United States

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

Write discussion on Non-adjusting events - audit process
Your posts are moderated
Related Questions
Q. What are the different methods available for collection and analyzing audit data? Q. Describe and explain common audit findings in the fields of: a. Informed consent proce

Advantages of Fixed Assets Register There are several advantages if the register properly maintained: a) There is an independent record of all fixed assets showing particul

Bank - Cash and Bank Balances The major concern in this area is to establish the existence of the balances and more currently due to failures in some financial institutions in

Q. Explain about Wash Sale? Wash Sale - A wash sale takes place if stock or securities are sold at a LOSS and seller acquires substantially identical stock or SECURITIES 30 day

Subsequent Events - Audit Process IAS 10 Events after the Balance Sheet Date prescribes the accounting for, and disclosure of, events than the balance sheet date. Events th

Explain the independence between the auditor and the client on financial statement audit engagements

Hi Dear, Could you please help me with online exam in Auditing Class !!

Procedures that Auditor Adopts The auditor’s procedures will include: (1) Getting an understanding of the entity as a whole in order to see the accounting system in proper per

Initial Identification - Intangible Asset Subsequent to initial identification, an intangible asset is carried at: a) Cost, less any accumulated amortization and any accumu