Gain access to a document needed to support a transaction

Assignment Help Financial Accounting

Reference no: EM13747289

Imagine that you were a preparer of a client's return and are unable to gain access to a document needed to support a transaction. You had asked the client numerous times for this item and you were finally presented with an email from the CEO stating that the deduction was allowable. Would you feel comfortable with this documentation? What would be needed in order to bring you to a level of confidence with allowing this item to become part of a return? Support your answer with primary rules and guidance through citations and references.

Reference no: EM13747289

Questions Cloud

Describe characteristics of preferred and common stock : Answer the following questions about the characteristics of a corporation’s stock: Who are the real owners of a corporation? What privileges do preferred stockholders have over common stockholders?

Describe their significance to societ of modern life : Present at least three of the discoveries you find to be most important and describe their significance to society, health, and the culture of modern life

Explain how to organize a corporation : Jessica Johnson and Claudia Stein are opening a Submarine’s deli. Johnson and Stein need outside capital, so they plan to organize the business as a corporation. They come to you for advice. Write a memorandum informing them of the steps in forming a..

Describe the effect of a stock issuance on paid-in capital : (Learning Objective 2: Describe the effect of a stock issuance on paid-in capital) ARM received $48,000,000 for the issuance of its stock on May 14. The par value of the ARM stock was only $48,000. Was the excess amount of $47,952,000 a profit to ARM..

Gain access to a document needed to support a transaction : Imagine that you were a preparer of a client's return and are unable to gain access to a document needed to support a transaction. You had asked the client numerous times for this item and you were finally presented with an email from the CEO stating..

How you will measure enzyme activity : Name of enzyme you will use, and source, How you will measure enzyme activity and What type of treatment you will you; type of solution(s), pH, length of exposure, how you will treat your samples

For a company which produce its products in batches : For a company which produce its products in batches, the CEO'S salary is a __ cost.

Internal rate of return : 1. The internal rate of return (IRR)

Good communication skills are important in a business career : Need a power point slides on a topic "why good communication skills are important in a business career"

User Account

All Pages