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Consider that you are audit senior in an accounting firm. Your firm has recently won an audit for a company. Thus, your firm does not have any other clients that operate in this industry. Your audit partner is concerned about his lack of knowledge of the industry the company is operating in.
Your audit partner asks you to create a memo on the ‘state of the company's industry' and associated risk factors.
Required:
a) Create a list of all useful sources that you can use to obtain the required knowledge.
b) Create a memo to the audit partner on the ‘state of the company's industry' and associated risk factors.
c) Suggested most important general balance-related or transaction-related audit objectives based on your finding of the risk factors.
A single production process converts a single raw material into 5,000 kg of joint product A and 5,000 kg of joint product B at a total cost of $100,000.
Detailed solution outlines market segment which visits candystand.com and describe how to estimate the target audience.
Illustrate out the term cash conversion cycle (CCC), and describe why, holding other things constant, a firm's profitability would raise if it lowered its CCC.
Discuss how overheads can be over- or under-applied and how the company should deal with the over- or under-application and evaluate whether ABC should be introduced. (Hint: remember to consider both the costs and benefits of any action recommended.)
case -2 - performance drinks applying activity based costingbackgroundnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbsp
What is your overall appraisal of the company's cost system and its use in reports to management List the strengths and weaknesses of this system and its related reports for the purposes management uses the system's output.
Near end of 2011, the management of Simid Sports Co., merchandising company, prepared the following estimated balance sheet for December 31, 2011: Simid Sports' single product is bought for $30 per unit and resold for $60 per unit.
New Public Management is becoming the dominant managerial approach in the United States. As a Council member, I certainly saw a movement towards NPM in some administrative areas of the city, but in others the more traditional approach remained.
Research what is the FORECAST for Federal Budget Deficit for fiscal year 2010. What are the economic implications of Government running a deficit year after year?
Explain these objections to the accountant's convention cost-volume-profit model
Suppose a fixed cost of $900, a variable cost of $4.50, and selling price of $5.50. Find out the break even point? How many units should be sold to make a profit of $500.? How many units should be sold to average $.0.25 profit per unit? .50 per un..
Compute the following for Iguana, Inc., for the second quarter (April, May, and June). 1. Budgeted production in units 2. budgeted cost of raw materials posted 3. budgeted direct labor cost 4. budgeted manufacturing overhead 5. budgeted cost of goods..
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