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Why auditors need to attain audit evidence
When significant fluctuations/unexpected relationshipsare identified which are inconsistent with other relevant information or that deviate from predicted patterns, auditors must investigate and obtain adequate explanations and appropriate corroborative evidence.Auditors need to attain sufficient appropriate audit evidence that information being used for analytical procedures is reliable.
Macro-Economic Analysis Measuring the Level of Economic Activity Gross National Product (GNP) and the Gross Domestic Product (GDP) are the two most widely used aggregates
Monte Carlo Simulation Model Monte Carlo simulation is used to analyse to what extent the valuation of the chosen company is dependent on the assumptions. Monte Carlo simulati
Crown Co. is expecting to receive 100,000 British pounds in one year. Crown expects the spot rate of British pound to be $1.49 in a year, so it decides to avoid exchange rate risk
Investing Surplus Cash : Cash not required for temporary periods of short durations can be invested in near-cash assets, i.e. marketable securities which are readily convertible in
what are the advantages and disadvantages of incremental budgeting?
Illustrate the steps of Creative accounting Creative accounting include: 1 Timing of transactions. Delaying or hurrying up the despatch of invoices at the yearend to decr
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IAS 14 "risk and return approach" Advantages Highlights the profitability, risk and returns of each segment. Information is more comparable with other entities.
What level of profits can you earn in a perfectly competitive market and what drives markets towards perfect competition over the long run?
Q. Criticism of Wealth Maximization? i) The objective of wealth maximization is not, necessarily, socially desirable. ii) There is some controversy whether the objective of
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