Should costanza refer to benes work in the audit report

Assignment Help Financial Accounting
Reference no: EM13140112

When auditing Vandalay Jewelry, CPA was not familiar with the quality and cut of the company's precious jewel inventory. To address this shortcoming, Costanza hired Benes, an expert in jewel valuation, to assist in the inventory valuation. Should Costanza refer to Benes's work in the audit report?

Reference no: EM13140112

Questions Cloud

Evaluate the goodness to fit using rmse : Develop a one year monthly or weekly forecast or a two year quarterly forecast (for the hold out period) using the time series decomposition model you evaluated in c) above.
Information about bilingualism in education : Research bilingualism in education and politics in the United States. Find 4 to 6 credible Web sites or articles that support, oppose, or simply present information about bilingualism in education or politics.
Each business structure : The regulatory environment for each business structure (is there a specific regulator? Does specific legislation apply to that structure? If so, is it state, commonwealth or a combination of both?)
Recording the account reinstatement : If a customer pays her bill after her account has already been written off, the company receiving the payment should record the account reinstatement with:
Should costanza refer to benes work in the audit report : To address this shortcoming, Costanza hired Benes, an expert in jewel valuation, to assist in the inventory valuation. Should Costanza refer to Benes's work in the audit report?
Explain the energy in joules stored in the capacitor : What is the energy in joules stored in the capacitor below, The capacitor is shown with 10 volts on each side of it (plus on the left of the capacitor, - on the right), and C = 20 microfarads.
Should you use the genomic dna or the cdna : You want to introduce a human gene into a bacterial vector downstream of a bacterial promoter in hopes of producing a large amount of the human protein. Should you use the genomic DNA or the cDNA? Explain your reasoning.
Basic characteristics or elements of religion : While each religion differs at significant points- and various sects within a given religion also differ- all religions share similar attributes. What are the basic characteristics or elements of religion?
Which ratios best help internal users manage the business : Which ratios would external users be most interested in? Why? Which ratios would best help internal users manage the business? Why? Beyond the basic financial statements what other information would you want to fully analyze a company's performa..

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  Determine the oliva''s balance sheet at december 31

From data calculate the inventory value in the Balance sheet - determine the amount that should appear on Oliva's balance sheet at December 31, 2007, for inventory.

  Calculating additional finance requirements

Calculating Additional Finance Requirements and Average Collection Period and what amount will this increase in the average collection period increase the financing needed by the company over the next year?

  Prepare a essay that evaluates validity of controller''s plan

Prepare a brief essay that evaluates the validity, both ethically and practically, of the controller's plan.

  Identify advantages of this market structre

In both Japan and United States, a small number of accounting firms audit a great mjority of large public companies. identify advantages of this " market structre" for indendent auditors services.

  The management team for the adoption of mode of transfer

The management team for the adoption of that mode of transfer pricing

  What was the noncontrolling interest share of sparis

At the end of each year, Gibson still owned 30% of the goods. Net income for Sparis was $912,00 during 2011. What was the noncontrolling interest's share of Sparis net income for 2011?

  Determine the following amount of materials price variance

Determine the following amount of materials price variance to be prorated to complete goods inventory at Dec. 31

  What amount must graham include in his gross income

Graham must work in the chemistry labs during the summer. What amount must Graham include in his gross income?

  Is language problem that we think it is

If company is optimistic about its China venture, and anticipates continued investment and growth, are restrictions on capital outflows from China a problem? Particularly if the source of funds are from China?

  Find the value of the treasury stock

When treasury stock is accounted for by the cost method is subsequently sold for more than its purchase price, the excess of the cash proceeds over the carrying value of the treasury stock

  Prepare general journal entry to record the first lease

The lease is considered to be an operating lease. Prepare the general journal entry to record the first lease payment on December 31, 2009.

  What is the most assembly division would be willing to pay

The Assembly Division of the same company needs a part that is just like Product A. The Assembly Division can choose whether to buy Product A from an outside supplier for $14.15 or buy it internally from the Parts Division.  and evaluate the most ..

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