Materiality of a transaction

Assignment Help Financial Accounting
Reference no: EM13912873

Why is the materiality of a transaction or an event a matter of professional judgement?

Reference no: EM13912873

Questions Cloud

How can this expense be justified : 1. Suppose Grain Hill wanted to evaluate ERP offerings from SAP, Oracle, and others on its own, without the help of TEC or another advisor. List the steps it should follow.2. An in depth evaluation such as TEC performed for Grain Hill can easily c..
Which you would develop applications for new tablet : Using the Internet, research career opportunities in which you would develop applications for new tablet computers. Describe two individuals or companies that have successfully developed applications for tablet computers.
Pick a career that you are considering : Pick a career that you are considering. What type of information system would help you on the job? Perform technical, economic, legal, operational, and schedule feasibility for an information system you would like developed.
Your team should interview people involved : Your team should interview people involved in systems development in a local business or at your college or university. Describe the process used. Identify the users, analysts, and stake holders for a systems development project that has been comp..
Materiality of a transaction : Why is the materiality of a transaction or an event a matter of professional judgement
Business combination transaction : First all Corp. acquired four division of a competitor eight years ago in a business combination transaction, paying $25 more than the fair value of the identifiable assets required.
Financial performance measurements : Krall Company recently had a computer malfunction and lost a portion of its accounting records. The company has reconstructed some of its financial performance measurements including components of the return on investment calculations
Opportunity to invest : Most Company has an opportunity to invest in one of two new projects. Project Y requires a $315,000 investment for new machinery with a four-year life and no salvage value.
Physical inventory at the end of the year : A company took a physical inventory at the end of the year and determined that $810,000 of goods were on hand. In addition, the following items were not included in the physical count

Reviews

Write a Review

Financial Accounting Questions & Answers

  Is francine necessarily right

Long-term bonds are a great investment because their interest rate is over 20%. Is Francine necessarily right?

  Determine whether the project should be undertaken

The firm is an ongoing profitable business and pays taxes at a 30% rate in the year of income. It uses a 15% discount rate on the new project. Using the NPV approach, determine whether the project should be undertaken (use the relevant tax rate in..

  Nbspfrom the data prepare journal ledger trial balance

nbspfrom the data prepare journal ledger trial balance financial statements.for the past several years dawn lytle has

  How much revenue should maas recognize in the first year

Maas LLP developed software that helps farmers to plow their fields in a manner that prevents erosion and maximizes the effectiveness of irrigation. Sunny Dale paid a licensing fee of $24,000 for a copy of the software. How much revenue should Maas r..

  The 2011 balance sheet of the captain jet inc is attached

the 2011 balance sheet of the captain jet inc. is attached. during 2012 the subsequent events occurred.1. on january 10

  Calculate the inventory turnover ratio for the year

Universal Sports Supply began the year with an inventory balance of $80,000 and a year-end balance of $52,000. Sales of $640,000 generate a gross profit of $220,000. Calculate the inventory turnover ratio for the year.

  Determine the earnings per share of common stock

Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is

  Calculation of labor variancesscheer companys standard

calculation of labor variances.scheer companys standard labor cost of producing one unit of product dd is 4 hours at

  Mixed costs into their variable and fixed components

The analysis of mixed costs into their variable and fixed components is necessary in order to:

  Should axillar go ahead with the new conditioning shampoo

What is the net present value of this investment opportunity? Based on your answer to (a) above, should Axillar go ahead with the new conditioning shampoo?

  Journalizing the admission of new partner under differ

journalizing the admission of new partner under differ methods.on february 28 partners capital balances in the carmco

  Decided to supplement his income by selling beehives

JJ Johnson has decided to supplement his income by selling beehives. He expects to sell 25,000 hives in 2014. He ended 2013 with 2,500 completed hives in inventory and would like to complete operations in 2014 with at least 2,800 completed hives in i..

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