Sale of real estate no longer used in operations

Assignment Help Financial Accounting
Reference no: EM133290900

1. A client that has never before invested in securities recently acquired more than a million peso in cash from the sale of real estate no longer used in operations. The president intends to invest this money in marketable securities until such time as the opportunity arises for advantageous acquisitions of a new plant site. He asks you to enumerate the principal factors you would recommend to create strong internal control over marketable securities?

2. What information should be noted by the auditors during their inspection of securities on hand?

3. In what ways can the audit of financial investments present special risks requiring specialized skill and knowledge?

4. If a security or derivative is not marketable, how do the auditors typically obtain evidence about the fair value of the instrument?

Reference no: EM133290900

Questions Cloud

Determine net present value using the south african rand : Determine Net Present value using the south african rand values and exchange rate assumptions made by directors.
Cash reserve requirements : How is the cash reserve requirements (CRR and SLR etc.) link with the availability of loanable funds with financial institutions?
Discuss the various risks of international investing : Discuss the various risks of international investing and What is the basic difference between a closed-end fund and an open-end fund
How the environment, social and government framework used : Discuss how the environment, social and Government (ESG) framework can be used to avert ghost mining towns without hurting shareholder worth in South Africa
Sale of real estate no longer used in operations : A client that has never before invested in securities recently acquired more than a million peso in cash from sale of real estate no longer used in operations
What would be the minimum proportion of the company : What would be the minimum proportion of the company that you would expect to receive for your $75,000? Carefully explain your answer and include financial
Managerial strategic decisions : Discuss any 5 long term managerial strategic decisions that Panasonic would grapple with in building the US based electric vehicle battery factory
Interest rate risk and market risk affect shareholders : By use of relevant examples, explain how liquidity risk, interest rate risk and market risk affect shareholders
Clarke partners could implement to reduce threats : Explain any relevant and practical safeguards that Clarke Partners could implement to reduce the threats.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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