Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Brand Names - Audit Process
Few companies in current years have placed valuations on the brand names of the goods such they sell. On the balance sheet the valuation is shown. The reason for responsibility that is the brand name is valuable to the company such it helps to sell the company's goods. Assume an example, may people would quite buy a 'branded' tin of soap powder, quite than the 'own make' offered through a supermarket. So IAS 38 not allows recognition of internally created brands.
The auditor must consider for purchased brands:
(i) Is the brand name valued corresponding to an acceptable procedure, and not just 'guessed' through the directors?
(ii) Is the value being amortized over an acceptable time such relates to the future or further sales of the brand?
(iii) Has the credit entry for the debit been adequately display as a non-distributable reserve upon the balance sheet?
(iv) Is there adequate disclosure in the financial statements of the accounting policy?
ILLEGAL ACTS Auditors may uncover criminal offences committed by a client or an employee of the client. This puts them in a difficult place, though the auditor must act careful
Your firm has recently been appointed auditors of the Social Transport Corporation and you are commencing the audit of the wages system. The Corporation has about 2500 employee
Q. If Kiner Company issues 3,000 shares of $5 par value common stock for $70,000, the account a. Paid-in Capital in Excess of Par Value will be credited for $15,000. b. Common Stoc
Techniques of Obtaining Evidence ISA 500 mentions them as such: Inspection of documents or records, Inspection of tangible assets, Observation, Inq
Long-Term Liabilities Long-term liabilities are generally evidenced through an agreement called a debenture. For this purpose, long-term loans are often called debentures. The
Work In Progress What such applies to goods for resale applies uniformly to work in progress even when the items present greater problems of valuation and ascertainment to the
Please present an analysis of the attached case. Your analysis should be in the form of a memo not to exceed four pages plus appropriate exhibits. The memo should present your
Method of corrercting evidence?
Explain The Difference Between Internal Audit And External Audit? Ans) The internal audit is performed to help the management. The weakness of the management is disclosed
You have been appointed as an Internal Auditor in an organisation . As part of your duties, you are required to provide training to the staff in the internal audit division. Your f
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd