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!
Related Parties. D'orsay Dore, SA is being audited by Clement & Grandcourt, Expert Comptables. During the course of the audit Clement & Grandcourt discover D'orsay Dore sold inventory to Parisienne de Fedora for 90-day terms, three times the typical payment period required, and the payments went directly to the president of D'orsay Dore, not to the accounting department which was the usual practice. Industriel Cuir supplies over 40 percent of the raw materials D'orsay purchases whereas no other supplier provides more than 5 percent of raw materials. D'orsay management says that they do so much business with Industriel Cuir because they provide D'orsay management assistance at no charge. D'orsay's business is greatest in the last month before the fiscal year end when they book 30 percent of their sales, some years in the last week before closing. D'orsay Dore has provided Clement & Grandcourt with a management representation letter that states that there are no related party transactions.
Required:
A. Should Clement & Grandcourt take D'orsay Dore's word when they say there are no related parties? Why?
B. List the circumstances at D'orsay Dore that may indicate the existence of unidentified related parties.
C. What audit procedures should Clement & Grandcourt perform to investigate the possibility of related parties?
There is a monocentric town that is shaped in a circle. The yearly rent for land in the CBD there is $36,000 per dunam. The value of the agricultural land on the outskirts of the town is $1,500 per dunam. The cost to travel in the town is $310 per..
Peter lives for three periods. He is currently considering three alternative education work options. He can start working immediately, earning $100,000 in period 1, $110,000 in period 2 (as his work experience leads to higher productivity)
To finance the investment, your organization or business would have to take out a loan. Suppose the interest rate on the loan is 12%, the dollar amount of the investment is $100,000 and the projected annual return from the project is 14%,
At what price does a cigarette pack sell at each stage in the distribution network In other words, what is the selling price for the retailer, the wholesaler, and smokey smokey - the manufacturer
fred has accepted a new job and the new company will match his contribution to a retirement fund. for every dollar
Suppose the firms compete ala Bertrand. What is the equilibrium price and quantity for each firm?
In a closed economy the following holds: Household consumption C is given by the consumption function: C = 100 + 0.75Yd Planned investments are I = 250 (independent of Y ). Household disposable income: Yd = Y - T, where Y is production. Taxes depend ..
a. Draw the demand and supply curves, before and after the tax. b. What will be the CS, PS, tax revenues and deadweight loss c. Suppose the government increases the tax to $4 per unit. What will be the new CS, PS, tax revenues and deadweight loss.
Public sentiment now changes such that depositors cut their cash holding in half and deposit the other half in time deposit accounts. The reserve requirement on DDs remains 25%, on TDs it remains zero, “m” remains 0, and banks continue to hold no ex..
Suppose that a perfectly competitive firm faces a market price (P) $5 per unit, and at this price the upward-sloping portion of the firm's marginal cost curve crosses its marginal revenue curve at an output (Q) level of 1,500 units.
intermediaries come from a competitive market with an equilibrium price of $8 per unit for their services, that is, any buyer or seller who wants intermediary's services must pay $8 for them. What is the maximum per unit that sellers are willing t..
how much are households paid for providing entrepreneurial ability? $ billion for entrepreneurial ability b. If households spend $80 billion on goods and $70 billion on services, how much in revenues do businesses receive in the product market.
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