Substantive Audit Testing: Revenue Cycle 1. Substantive Audit Testing: Revenue Cycle 2. MULTIPLE CHOICE: 3. 1. Which of the following might be detected by an auditor’s review of the client’s sales cut-off? 4. a. Excessive goods returned for credit. 5. b. Unrecorded sales discounts. c. Lapping of year end accounts receivable. d. Inflated sales for the year. 6. ANSWER: D 7. 2. Which of the following forms of evidence represents the most competent evidence that a receivable actually exists? 8. a. A
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Lon Fuller had postulated that in a legal system‚ which is sound and functioning properly‚ a number of different precepts can be observed i.e. The precepts of legality (commonly known as the rule of Law). These rules can broadly be said to be • General • Publicized • Prospective and not retrospective in nature • Lucid • Not contradicting each other • Should not be impossible to follow • Stable and not subject to wanton amendments • Adhered to by the government It is Fuller’s last precept that has
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IPSAS 17—PROPERTY‚ PLANT AND EQUIPMENT Acknowledgment This International Public Sector Accounting Standard (IPSAS) is drawn primarily from International Accounting Standard (IAS) 16 (revised 2003)‚ “Property‚ Plant and Equipment” published by the International Accounting Standards Board (IASB). Extracts from IAS 16 are reproduced in this publication of the International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) with the permission
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ACCOUNTING INFORMATION DISCLOSURE: AN EMPIRICAL INVESTIGATION OF A FRUITLESS FIG TREE Victor Fegor ORIGHO MGS/PG1209622 A PAPER SUMMITED TO THE DEPARTMENT OF ACCOUNTING‚ UNIVERSITY OF BENIN BEING PARTIAL FULLFILMENT OF RESEARCH METHODOLGY COURSE REQUIREMENT MARCH‚ 2013 ABSRACT This is the first study that tries to compare the inadequacy of accounting information disclosure in meeting financial users need to the inadequacy of a blossoming tree not producing fruits
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CASE 26 1. The ethical pressure and dilemmas of the BP Oil spill stem from the severity of the situation and long term impact of this disaster. From a society aspect to the environmental hazards‚ everybody has been‚ and will be affected long term. The ethical issues in this case is the compensation to people who have suffered mental illness problems i.e. PTSD due to this spill. The determination of such claims‚ bogus or not have to be judged accordingly. The ideology of this being a long term
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Disclosure Analysis A company reports several items in the current asset section of its balance sheet. The basis of those items reported contain the company ’s cash and cash equivalents‚ inventories and receivables. Current assets are vital to the operation of a company and are the company ’s source of readily accessible funding. Lowe ’s Company‚ Inc. and subsidiaries ("Lowe ’s")‚ a home improvement retail chain store‚ reported cash and cash equivalents‚ receivables and inventories in their
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Sam Ty Fund Communication March 24‚ 2013 Self-Disclosure The things I would consider a low risk and share with most people would be my hobbies and what I like to do on my free time. Demographic information such as my age‚ ethnicity background‚ education information like where I attend college and my major‚ would also be low risk things I wouldn’t mind sharing with most people. Items that are at a moderate risk would include my personal information such as e-mail‚ phone numbers and address.
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January 13‚ 2013 Chapter 26 Notes (1865-1896) * The Clash Of Cultures on the Plains 1) As the White settlers began to populate the Great West‚ the Indians‚ caught in the middle‚ increasingly turned against each other‚ were infected with White man’s diseases‚ and were stuck battling to hunt the few remaining bison 2) The Sioux‚ displaced by Chippewas from the their ancestral lands at the headwaters of the Mississippi in the late 1700s‚ expanded at the expense of the Crows‚ Kiowas‚ and
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Product Specifications Andrew Solutions EWP17-17 EWP17‚ HELIAX® Premium Elliptical Waveguide‚ 1.7– 2.1 GHz‚ black PE jacket Construction Materials Jacket Material PE Conductor Material Corrugated copper Jacket Color Black Dimensions Cable Volume 6596.0 L/km | 71.0 ft ³ /kft Cable Weight 4.06 kg/m | 2.73 lb/ft Diameter Over Jacket (E Plane) 5.65 mm | 143.50 in Diameter Over Jacket (H Plane) 2.99 mm | 75.90 in
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CHAPTER 17 MULTINATIONAL FINANCIAL MANAGEMENT (Difficulty Levels: Easy‚ Easy/Medium‚ Medium‚ Medium/Hard‚ and Hard) Please see the preface for information on the AACSB letter indicators (F‚ M‚ etc.) on the subject lines. Multiple Choice: True/False (17-2) Multinational fin. mgmt. F T Answer: a EASY [i]. Multinational financial management requires that financial analysts consider the effects of changing currency values. a. True b. False (17-2) Multinational
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