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1) Explain procedures for collecting accounting evidence,
2) Explain the use of sampling in performing an examination
3) Evaluate accounting evidence using analytical and inferential tools.
Taking those objectives talk about what they mean to you personally in a professional setting if applicable or maybe of the three objectives you may feel like sampling was more of a challenge or struggle to understand than analytically and inferential tools.
If an individual taxpayer acquires a mortgage to buy his principle residence and then, several years later, refinances that mortgage with a new mortgage, the interest on that new mortgage is:
Describe how the authoritative literature addresses comprehensive income. Describe three classifications within net income and give an example of each. Describe three classificiations within other comprehensive income and give an example of each.
Periodically reconciling the physical counts of inventory to total counts reflected in accounting records by using someone who does not handle inventory or record purchases is considered to be:
Find two annual reports from competing publicly traded companies of your choice. Prepare an overview of the two companies including a brief synopsis of the industry the companies are in, the market share each company holds, and the length of time ..
Prepare the adjusting entry for December 31 st to reflect the amount of rent expense consumed. What is balance in prepaid rent on December 31 st after the adjusting entry has been made?
What are advantages of public firms reporting to investors using an accrual and not a cash approach? What are the disadvantages?
Prepare journal entries (A,B,C) and show proper disclosure (C) to reflect the following treasury stock transactions showing how each is accounted for under the cost method. (show computation)
Oddessy consulting has the following for year ended 12-31-09 before adjustments. Oddessy uses the net credit sales method of estimating bad debt expense. The journal entry for estimating bad debt expense at year end is:
Prepare an ending 1998 Income Statement and Balance Sheet from the following information: Sales $800,000; Cost of Goods Sold $300,000; Accounts Receivables $20,000; Bonds Outstanding $160,000; Accounts Payable $20,000; Advertising Expense $1,000; ..
Depreciation of general capital assets is not recorded in the accounts of any of the governmental funds. If a building is transferred from the General Fund to an internal service fund because the character of its use changes, should the internal s..
Assume that the County of Katerah maintains its books and records in a manner that facilitates preparation of the fund financial statements. Prepare the necessary entries for the current fiscal year.
Equipment that cost $80,000 and has accumulated depreciation of $63,000 is exchanged for similar equipment with a fair value of $35,000 and $15,000 cash is received. The exchange lacked commercial substance.
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