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Question
Five college seniors with main in accounting are discussing alter - native career plans. The first senior plans to develop an internal revenue agent for the reason that his primary interest is income taxes. He considers the background in tax auditing will offer him with better exposure to income taxes than will any other available career choice. The second senior has decided to go to labor for a CPA firm for at least 5 years possibly as a permanent career. She considers the variety of experience in auditing as well as related fields offers a better alternative than any other available choice. The third senior has obvious on a career in internal auditing with a large industrial company for the reason that of the many different aspects of the organization with which internal auditors become involved. The fourth senior plans to come to be an auditor for the GAO because she believes that this career will provide excellent experience in computer risk assessment techniques. The fifth senior plans to chase some aspect of auditing as a career but has not decided on the type of organization to enter. He is particularly interested in an opportunity to continue to grow professionally however meaningful and interesting employment is also a consideration
a) What are the major advantages besides disadvantages of each of the four types of auditing careers?
b) What other kinds of auditing careers are available to those who are qualified?
Prepare journal entries to record the following merchandising transactions of Sheng company, which applies the perpetual inventory system.
What is the expected rate of return on the project and what is the project's standard deviation of returns - calculate and interpret the volume and price variances on the revenue side.
Inventories - Cost of goods manufactured and Calculate the cost of goods manufactured for this company
Determine the variable and fixed cost components of the firm’s Service Overhead account. What would the estimated total cost per tax return be if the firm prepares 825 standard short-form tax returns in April?
problem 1. starting work-in-process is 2000 units units completed is 44000 units and ending work-in-progress is 3000
Describe a cash management strategy that might require a minimum, as well as a maximum, cash balance of $10,000 at the end of each month.
The flotation costs associated with the new issue were 6 percent and diggin tools marginal tax rate is 30 percent. Illustrate what is diggin tools cost of preferred stock r ps?
you determine that customers owed the company $51,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,100 at year-end, and the rent payment was for a two-year period. Comput accrual ..
Declared a $0.80 per share dividend on the common stock (100,000 shares issued, 92,000 shares outstanding). The date of record is January 31, and the payment due date is February 15.
Gacia Company issued $600,000 of 8%,5-year bonds at 106, with interest paid annually.Asuming straight-line amortization, what is the carrying value of the bonds after one year?
What amount is attributed to goodwill on the date of acquisition, All of the subsidiary's liabilities and assets are viewed as having fair values equal to their book values.
Find a website that details factoring receivables. E xplain b riefly to the class what factoring receivables is, why a company would factor their receivables, and the advantages of doing so?
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