Accounting Education: an international journal Vol. 20‚ No. 2‚ 203– 222‚ April 2011 Adding Value to Audit Education through ‘Living’ Cases JULIE DRAKE University of Huddersfield‚ UK Received: November 2009 Revised: July 2010 Accepted: September 2010 ABSTRACT This paper seeks to address the perceived failure of university teaching to foster critical understanding of audit practice and to identify a potential remedy. It contributes to the debate (Maltby‚ 2001‚ “Second thoughts about ‘Cases in
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Interim An audit which conducted in between the two annual audits with a view to find out interim profits to enable the company to declare an interim dividend is known as Interim Audit. It is a kind of audit which is conducted between the two periodical or balance sheet audits. Objectives Of Interim Audit 1. To know profit or loss of interim period. 2. To distribute interim dividend. 3. To get loan on the basis of interim account. 4. To get information about the financial position
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which exceeds materiality of $50‚000. c. The auditor should either propose an audit adjustment so that the unadjusted statement amount is less than materiality‚ and/or perform more testing to obtain a better estimate of the population misstatements. The additional testing will likely focus on receivables and inventory because they have the largest estimated misstatements. 9-28 a. The following terms are audit planning decisions requiring professional judgment: Preliminary judgment about materiality
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456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks‚ Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments
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Gap analysis generally refers to the activity of studying the differences between standards and the delivery of those standards. What role does gap analysis play in the audit process and how is it relevant for successful outcomes in terms of organisational goals. In more specific terms‚ gap analysis can be defined as the technique for determining the steps to be taken in moving from a current state to a desired future-state. This as the name implies is simply the description of the ‘gap’ between
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theft. D. Expected effectiveness of controls. 13. The risk that an auditor’s procedures will lead to the conclusion that a material misstatement does not exist in an account balance when‚ in fact‚ such misstatement does exist is referred to as A. Audit risk B. Inherent risk C. Control risk D. Detection risk 14. Evidential matter concerning proper segregation of duties ordinarily is best obtained by A. Preparation of a flowchart of duties performed by available personnel. B. Inquiring whether
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Li-Fi(Light Fidelity) The Future Technology in Wireless Communication Abstract: Whether you’re using wireless internet in a coffee shop‚ stealing it from the guy next door‚ or competing for bandwidth at a conference‚ you have probably gotten frustrated at the slow speeds you face when more than one device is tapped into the network. As more and more people and their many devices access wireless internet‚ clogged airwaves are going to make it. One germen phycist.Harald Haas has come up with
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International Journal of advances in computing & communications‚ vol 1‚ 2013 www.ijacc.org Li-Fi (Light Fidelity)-The future technology In Wireless communication Neha Singh Uttar Pradesh Technical University Raj Kumar Goel Institute of Technology For Women Meerut Road Ghaziabad Divya Chauhan Uttar Pradesh Technical University Raj Kumar Goel Institute of Technology For Women Meerut Road Ghaziabad Deepika Dubey Uttar Pradesh Technical University Raj Kumar Goel Institute of Technology For
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Wi-Fi Technology Introduction: Electrical technology has been greatly enhance with the introduction of wireless communication. Wi-Fi is the one among the achievements. The term Wifi stands for Wireless fidelity. Wi-Fi is a brand originally licensed by the Wi-Fi Alliance to describe the underlying technology of wireless local area networks (WLAN) based on the IEEE 802.11 specifications. It was developed to be used for mobile computing devices‚ such as laptops‚ in LANs‚ Internet
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made the decision to purse an instant messaging program based on three factors: the increasing popularity of instant messaging‚ the need for a cost effective way to add frequency to the company ’s traditional marketing communications‚ and the need to prepare the company for online marketing tools (such as e-mail‚ becoming ineffective). Through advanced programming‚ RecipeBuddle is able to instantly recognize and respond appropriately to requests as chicken‚ no garlic. Furthermore‚ RecipeBuddle
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