User Account

All Pages

Recognition in the cpas audit report

Assignment Help Accounting Basics
Reference no: EM13513797

Discuss whether the changes described in each of the cases below require recognition in the CPA's audit report as to consistency. (Assume that the amounts are material.)

(a) The company changed its inventory method to FIFO from weighted-average, which had been used in prior years.

(b) The company disposed of one of the two subsidiaries that had been included in its consolidated statements for prior years.

(c) The estimated remaining useful life of plant property was reduced because of obsolescence.

(d) The company is using an inventory valuation method that is different from those used by all other companies in its industry.

Reference no: EM13513797

Questions Cloud

Characteristic of accounting information : Identify which qualitative characteristic of accounting information is best described in each item below. (Do not use relevance and faithful representation.)
Calculate inventory balance : A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31.
Explain capable of reducing the most acid and why : Antacid #1 has 1700 mg of sodium bicarbonate, antacid #2 has 500 mg of calcium carbonate. Which tablet is capable of reducing the most acid and why
Define neutralization reaction and identify the strong acid : Complete the following neutralization reaction, and identify the strong acid, strong base, weak acid and/or weak base.
Recognition in the cpas audit report : Discuss whether the changes described in each of the cases require recognition in the CPAs audit report as to consistency
Compute the maximum stress that this bone can withstand : The femur is a bone in the leg whose minimum cross-sectional area is about 4.1 x 10-4 m2. Find the maximum stress that this bone can withstand
How much will audrey balloon payment be in eight years : There were no other transaction costs or finance charges. How much will Audrey's balloon payment be in eight years?
Explain the social construction of race : Please explain the social construction of race and do you believe ethnicity is a more constructive concept to explain diversity. Describe how ethnicity and gender construct the individual social agency.
Define sodium bicarbonate and magnesium hydroxide : Antacid tablets are made from a variety of compounds. Sodium bicarbonate, magnesium hydroxide and calcium carbonate to name a few. Give the chemical formulas for these,

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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