Forensic accountant demonstrate professional care

Assignment Help Financial Accounting
Reference no: EM131216240

Assume a land development company hired an engineer and architecture firm to conduct a feasibility study on a potential land purchase. The report indicated that the land was suitable for development. Later, zoning requests are denied and the land development firm sues the engineer and architecture firm for negligence, breach of contract, restitution, and reliance. A forensic accountant is hired to provide a valuation for losses and serve as an expert witness in court to support these findings. How would a forensic accountant demonstrate professional care, objectivity, and integrity in performance of the engagement? How might this impact the ability to obtain sufficient evidence or data to support his or her opinion? use the AICPA’s Code of Professional Conduct and Bylaws, the Federal Rules of Evidence, and any other regulations/standards to evaluate your respond

Reference no: EM131216240

Questions Cloud

Find the total apparent power : If a watt hour meter draws 1.5 W and 11.3 vars from a potential transformer, and 1.2 W and 1.8 vars from a current transformer, the total apparent power burden placed on the current transformer is
Research your selected case on austlii : HI6027: BUSINESS AND CORPORATIONS LAW - Advise your lecturer by email of your group members and case selected. PLEASE NOTE: Lecturer approval is required. You must NOT start on your assignment until your lecturer approves your group and case.
Accounting-segment margin and management compensation : Gantry Manufacturing is a medium-sized organization with manufacturing facilities in seven different locations around the southwestern United States. What are the implications of having the corporate office issue memos requiring the facilities to rec..
Forensic accountant demonstrate professional care : Assume a land development company hired an engineer and architecture firm to conduct a feasibility study on a potential land purchase. The report indicated that the land was suitable for development. How would a forensic accountant demonstrate profes..
Indicate whether the cost will be capitalized or expensed : For each of the transactions that follow, indicate whether the cost will be capitalized or expensed by Action Corporation. Action paid $50,000 in salaries for research and development on a process in hopes to patent in another year. Action paid $10,0..
What will be the net cash flow for year one of project : Your company has spent $260,000 on research to develop a new computer game. The firm is planning to spend $46,000 on a machine to produce the new game. Shipping and installation costs of the machine will be capitalized and depreciated; they total $5,..
What stakeholders interests are in conflict : Grandma's Cookie Company purchased a factory building. The company controller, Don Nelson, is in the process of allocating the lump-sum purchase price between land and building. Judith has some reservations about this because the higher reported inco..
Auditing is a part of accounting : Absolutely this is an auditing question. Auditing is a part of Accounting. There is no any separate major in Auditing. I haope you can answer now if you are an expert. "Provide some strong paragraphs regarding the auditing professions such as--audito..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Potential problems with uniform capitalization rules

SCENARIO: The Pima and Southern Railroad (PSRR) is a small railroad operating in rural Arizona. It exists by carrying freight to remote areas of the southwest. This year the PSRR needs to replace a 30- mile section of its track. The PSRR has bids fro..

  Write the appropriate journal entries for a bond

On January 1, 2012 Buchanan Company issues at par 2-year term bonds with a par value of $100,000 to yield 10%, and bearing interest at an annual rate of 10 percent payable semiannually on July 1 and January 1. FYE is December 31st.

  Prepare a report for your client

BUACC5930 Accounting Concepts and Practices. You are an accountant at West Group Accountants & Investment Advisers. You have been approached by a group of investors for your professional advice on investing in Harvey Norman Holdings Limited.

  Calculate the profitability index for this project

You have a project with the following cash flow stream (assume a 10% discount rate).  What is the profitability index of the project?  Is it acceptable? Calculate the profitability index for this project. Is the project favorable?  Why or why not?

  Prepare journal entries to record transactions of sage ltd

Determine how Jack Ltd should account for the results of the impairment test at 30 June 2015 and 30 June 2016, and prepare any necessary journal entries - Prepare the journal entries to record the transactions of Sage Ltd

  Diluted earnings per sharedunbar company had 400000 shares

diluted earnings per share.dunbar company had 400000 shares of common stock outstanding through the year 2013. in

  Rate of return based on the average cost of the investment

Scarlett Painting Company is considering whether to purchase a new spray paint machine that costs $2,600. The machine is expected to save labor, increasing net income by $260 per year. The effective life of the machine is 15 years according to the ma..

  Illustrate what is the best estimate for the firm value

Illustrate what is the best estimate for the firm's value of equity, in millions

  Accrual accounting is used in financial reporting and in

accrual accounting is used in financial reporting and in analysis. additionally analysis often focuses on cash flows in

  Prepare financial statements for the canadian subsidiary

Prepare financial statements for the canadian subsidiary in its functional currency.

  Total liabilities-stockholders equity-stockholders equity

Meower Corp. recieved a charter authorizing 120,000 shares of common stock at $15 par value per share. During the first year of operations, 40,000 shares were sold at $28 per share. 600 shares were issued in payment of a current operating debt of $18..

  What is the cost of goods sold

What is the Cost of Goods Sold? What financial statement does it show up on? How does it relate to the “Matching Principle” in accounting?

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd