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!
Trademarks and Patent
Trademarks and then written off over their useful lives and patents may be capitalized along with any renewal fees being charged to revenue. Whether a trade mark or patent is abandoned then the total book amount should be written off directly. Commonly the company should remain a register of all material items that should be determined against the accounting records, and the agreements of third party confirmation from the patent agent of the existence and company's title to the assets. Such auditors will require considering the valuation of the assets. This will involve a review of the further income arising from the trade mark and patent to see where it specifies the value put on it. In assessing the future income for further it will be essential to seems the possibility which income will not arise since for example to changes or expiry in the client's business.
You must recall from your accounting knowledge also for such the goodwill impairment could be determined needing 'bottom-up' or 'top-down' tests.The 'bottom-up' test includes identifying the goodwill in the balance sheet such can be located on a reasonable basis to the cash generating unit. The 'top-down' test includes identifying the smallest cash generating unit such the goodwill concerned and then apportioning any unassigned goodwill on a reasonable basis to the cash producing unit.
In each case above, impairment has happened whether the recoverable amount of the cash producing unit is less than the carrying amount of the assets as like the assigned goodwill.
You must recall from your earlier studies also which the 'top-down' test is essential whereas there is no reasonable basis for carrying out a 'bottom up' test. Management's specification of the procedure of carrying out the impairment review must be carefully examined. Such the auditor should see the reliability and sufficiency of the evidence obtainable. Whenever investigative 'value-in-use' or 'economic value' evidence will be essential to support future cash flow projections, growth rates interest rates, future production costs, product life cycle etc. These are topics areas where find out the 'total selling proceeds' is more simply verifiable through reference to evidence from present market activity.
It is especially essential that the auditor reviews the notice to the financial statements to sure about the disclosures in respect of the accounting policy and treatment is sufficient and suitable.
Describe the factors which decide the broad area of Scientific activity?
What is an audit, what financial records are available and what is their individual function in completing your audit? Audit is an independent examination of financial informat
nature and scope
Types of audits As far we have tended to think in state of the audit of limited companies, and certainly, the emphasis during this text will be on that companies incorporated
what are requirements for a company to comply with king code?
Internal Audit has been asked by the State to review the activities of The Commission on Workforce Development
Question: Explain the type of audit conducted by the sponsor when he suspects or comes to know that the site will be audited by FDA. A Mention type of audit conducted by the
Audit Sampling ISA 530 Audit Sampling and Other Selective Testing Procedures states Audit sampling is the application of a compliance or substantive procedure to less than 100%
should your test for unrecorded liabilities be affected by the fact that a letter is obtained in which a responsible management official certifies that to the test of his knowledge
techniques of vouching
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