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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.
PROPERTY TRANSFERRED BEFORE BANKRUPTCY (a) Voluntary settlements : The trustee can claim all property settled by the bankrupt on other persons within two years preceding the
In June 2004, Feltex Carpets Limited raised NZ $254 million in an initial public offering. Twenty seven months later the company was in receivership, its share price having collaps
Q. What is Inheritance in Gross income? Inheritance - As distinguished from a BEQUEST or devise, an inheritance is property attained through laws of descent and distribution fr
Problem: (a) Many businesses find it useful to maintain a control account in respect of both their trade receivables and trade payables. Describe why such control accounts ar
The Wanless Corporation provides Internet consulting services to a wide-range of customers. The company's fiscal year ends on December 31. For the year ended December 31, 2011, the
Question: Consider a project that involves the purchase of a $100,000 machine. The machine will last for three years. It is expected to produce 20,000 units per year. The sa
I need to know how to do a problem and whether I am missing information.
Many hospitals are classified as not-for-profit (NFP). The presentation of for-profit (FP) financial statements differs in several respects from NFP accounting. You will probably w
Effect of Winding-up Order The consequences of a winding-up order are: 1) Any disposition of the company's property and any transfer of shares is void, unless the court otherwis
Q. What do you mean by Issuer? Issuer - This term means an issuer, securities of which are registered under Section 12 of Securities Exchange Act of 1934, or that is essential
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