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!
Long Term Contracts - Audit Process
The authoritative document with reference to long term contracts is IAS 11: Construction Contracts and IAS 18: Revenue Recognition, and ISA 600 Reliance on the Work of another Auditor.IAS 11 Construction ContractsA construction contract is a contract particularly negotiated about the construction of an asset or mixture of assets that are closely interdependent or interrelated in terms of their technology, design and function or their eventual purpose or needs.That contract often span quite than one accounting time. This provides rise to a number of accounting and hence auditing issues. The auditor must examine a schedule of each the construction contracts such the enterprise is currently engaged in, and reach a decision as to where attribute to capable losses and profits have been satisfactorily estimated.Also the presentation of contracts in the financial statements must accord along with the IAS. Even though the auditor should have a working knowledge to be capable to deal along with many aspects of long term contracts, it may be essential to contact external experts to seek assurance in specialist areas wherever the auditor has not enough expertise himself. Assume an example, determination of the stage of completion of a building in course of construction.
Presentation and Disclosure - Audit of Accounting Estimates An enterprise should involve the following information relating to a discontinuing operation in its financial state
Non-Adjusting Events - Audit Process Non-adjusting events are those that are indicative of conditions such arose than the balance sheet date as a decline in the market price o
Q. Which of the following represents the largest number of common shares? a. Treasury shares b. Issued shares c. Authorized shares d. Outstanding shares
Accounting Requirements - IAS 40 Investment Properties IAS 40 prescribes the accounting treatment about investment property and related disclosure necessities. Investment
project report on absorption of overhead and its different method
hi, im a preformer and i want to know should i be myself duing an audition or should i act proper ans sweet like everyone els
Final Review of the Financial Statements The work we have considered so far has shown which the auditor first gathers facts that the enterprise and the environment it operates
what is the impact of judgemental sampling on the quality of a financial report
State four factors considered determining sufficiency of audit evidence
describe possible factors in the auditor-client relationship that can make it more difficult for the auditor to detect fruad
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