Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
amy industries and wholesales small tool. it sell the tool to a large group of regular customer and make most sale by telephone to this group. additionally, it receives orders online by its sales team who sign up new customers within the sales area. in the past, amy has had trouble with customer who do not pay their account on time. despite instructing the sales team not to make sales to customer before their creditworthiness has been assessed, sales are still being made to new customer before their limit have been set and to assesses, sales are still being made to new customer before their limit have been set and to existing customer beyond their credit limit. also, the economic recession has start to impact its customers, and amy management is concerned about the possibility of increasing bad debts.
required:
a. what sort of prevent control could be use to deal with the problem face by amy? explain how the control would work?
b. assume prevent control is implemented, and during this year there have been no sale to customers that have taken any customer beyond its credit limit. what are two possible explanations for this that the auditor must consider?
c. if an auditor finds two sales transaction during the year that are in excess of a customer's credit limit at that time of the sale, what conclusion would the auditor draw from this evidence? what other evidence could the auditor consider before concluding thatprevent control has failed?
Discuss how auditing may have played a role in the failure of Tyco International. How did the audit process potentially contribute to the firm's failure?
Prepare a two-page audit critique, and include each of the following: Briefly describe the purpose of the audit (identify the type of audit). Briefly describe the method(s) used during the audit
Carl had the subsequent transactions for 2010 - Find what is Carl's AGI for 2010
Describe the accounting treatment for discontinued operations. How should an analyst treat discontinued operations?
What is the purpose of a bank reconciliation? When speaking to an account manager and she/he told you they don't have time to reconcile the bank account every month, how would that need to be encouraged to be done?
Find characteristics that distinguish NFP from business enterprises and issues relevant to NFP financial reporting and describe your rationale by reference to existing reporting requirements.
Preparing memo on state of the company industry
Prepare a pension worksheet for the pension plan in 2012 and prepare any journal entries related to the pension plan that would be needed at December 31, 2012.
Joseph Wellington, CFE, is preparing to give an educational presentation about management fraud at the annual ACFE conference, which will be held in Las Vegas.
Show the reason for and the type of audit report that you would issue and consider that each item is significant.
Historic cost should be replaced by an alternative measurement base in order to make financial statement more useful. Critically discuss this statement, concluding with whether or not you agree with it.
What are the qualitative benchmarks an auditor can use to assess materiality? How can an auditor use both qualitative and quantitative measures to make a better assessment of materiality?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd