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Significant Deficiency -Control deficiency or combination of control deficiencies, which adversely affects company's ability to authorize, initiate, process, record or report external financial data reliably in accordance with GAAP such that there is more than a remote likelihood that a misstatement of company's annual or interim financial statements which is more than inconsequential won't be detected orprevented.
what are the five modern accounting tehniques
Assessment Criteria: Student work will generally be assessed in terms of the following criteria: 1. Preparation of correct journal entries. 2. Accumulation of journal entr
Holding company with a direct shareholding in sub-subsidiary company Under this type of structure, both the holding and subsidiary company have some shareholding in the sub-subsi
The Caltor Company gathered the following condensed data for the Year Ended December 31, 2010. Cost of goods sold $ 710,000 Net sales 1,279,000 Administrative expenses 239,000 I
Presentations of Financial Statements The objective is to give guidance regarding the preparation of published financial statements and prescribe the content of the published fin
Joe seeks your assistance in assessing these investment options. He has five particular concerns, as outlined below. 1. Regarding his photographic studio, which would be a bette
Q. What is Recapitalization? Recapitalization - An internal reorganization of a corporation including a rearrangement of capital structure by changing the kind of stock or numb
Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases given below: a. Jackson Corporation
PROTECTION OF PROPERTY OF A DECEASED PERSON (a) No person may take possession of or dispose of or otherwise intermeddle with, any free property of a deceased person, unless he
Admission of a new partner When a new partner joins the firm/partnership, the new partner will enjoy the benefits arising as a result of goodwill created by the old existing pa
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