"Subsequent events memo for apollo shoes inc" Essays and Research Papers

Sort By:
Satisfactory Essays
Good Essays
Better Essays
Powerful Essays
Best Essays
Page 1 of 50 - About 500 Essays
  • Satisfactory Essays

    Apollo Shoes Inc.

    • 457 Words
    • 2 Pages

    Apollo denied our request to speak with the predecessor auditors because of “litigation concerns.” I’ve looked at the 8-K filed by Apollo and the auditors referenced in the 10-K. I didn’t attach a copy because it didn’t say much‚ just something about “incongruent goals‚” blah‚ blah‚ blah. Against my advice‚ Arnold decided to accept the engagement anyway. Keep your eyes open! The good news is that the predecessor auditors‚ Smith and Smith‚ CPAs‚ have a good reputation‚ so you can use last

    Premium Auditing Financial audit Audit

    • 457 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Apollo Shoes Memo

    • 429 Words
    • 2 Pages

    The company’s total losses/expenses as management has estimated are $11 million. The total amount that the auditor might suggest would be about $18.6 million. This means that the materiality threshold is broken for materiality of misstatement of net income‚ even though as shown below‚ each entry itself does not break that threshold by itself. The deferred costs can be divided over the next 2 years. So this year’s entry would be as follows and there should be a disclosure note about the remaining

    Premium Revenue Income statement Generally Accepted Accounting Principles

    • 429 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Apollo ShoesInc. Potential for Fraud Memo September 24‚ 2014 There are a few “red flags” that have come to my attention while reviewing the minutes provided to me from Apollo ShoesInc. For starters‚ in our first meeting we requested to meet with the predecessor‚ and was told by Mr. Unum who is the Vice President of finance‚ they would rather we not speak to them. When a company refuses to have the current auditor speak with the previous auditor this always throws up a red flag. Another red

    Premium Management Accounts receivable Auditing

    • 572 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Apollo Shoes

    • 497 Words
    • 2 Pages

    Upon the completion of auditing the financial records of Apollo ShoesInc. it has been confirmed that there has been sufficient evidence obtained to support the audit opinion. There is a concern pertaining to the results of last year’s audit‚ because the audit was conducted last year by Smith and Smith CPA’s and VP of finance Mr. Unum has requested that we do not contact Smith and Smith. After careful review it has been determined that the issuance of an unqualified audit report would be appropriate

    Free Auditor's report Audit Auditing

    • 497 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Subsequent Events

    • 1188 Words
    • 5 Pages

    Properly accounting for subsequent events is important because investors’ opinions could be dramatically altered by the events and transactions that occur after year end. If subsequent events are not given proper consideration‚ the financial statements that are issued at year-end may be misleading. Accounting Standards Codification (ASC) 855 provides guidance on the proper accounting for and disclosure of subsequent events. Due to the potential impact subsequent events may have on the financial statements

    Premium Balance sheet Financial statements Financial Accounting Standards Board

    • 1188 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Apollo Memo

    • 715 Words
    • 3 Pages

    Based on what Bradley found‚ there looks to be some serious problems in Sales and A/R. You need to write a memo identifying and explaining the significance of the qualitative features indicated by these deviations. Some things you may want to think about: * If the control performance were uniform for the year‚ the deviations would be evenly distributed by month. * Apollo Shoes faced financial problems in the fourth quarter of the year. * Sales transactions with missing bills of

    Premium Accounts receivable Invoice Accounts payable

    • 715 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Apollo Shoes Planning

    • 1932 Words
    • 8 Pages

    GA-3 Prepared K.E;M.B.(1/13/2012) Apollo ShoesInc. Relevant Matters Based on Minutes (December 31‚ 2011) Information Relevant to 2010 Audit 1. Remarks by Apollo Shoes Inc. CEO Larry Lancaster in regards to the 10% projected increase in sales for the 2011fiscal year. (“Well they better increase by that much or heads will roll.”) GA-3.1 2. Majority vote by members of the board to internalize

    Premium Board of directors Corporate governance

    • 1932 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Apollo Shoes Audit Report

    • 1052 Words
    • 4 Pages

    Apollo Shoes Audit Report Anderson‚ Olds and Watershed Certified Public Accountants 123 Main Street Upper Saddle River‚ NJ 00712 INDEPENDENT AUDITOR’S REPORT To the Stockholders Apollo ShoesInc. We have audited the accompanying balance sheets of Apollo ShoesInc. as of December 31‚ 2008‚ and the related statements of income‚ comprehensive income‚ shareholders’ equity‚ and cash flows for the year ended‚ and related notes to the financial statements. We have also audited management’s assessment

    Premium Auditing Audit Financial audit

    • 1052 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Apollo ShoesInc. Potential Problem Areas December 31‚ 2011 The following refers to the Comparative Trial Balances‚ GA-7.1 through GA-7.5: Accounts Receivable‚ Other Receivables‚ Allowance for Doubtful Accounts‚ Bad Debt ExpenseInventories and Reserve for Inventory Obsolescence Prepaid Insurance and Insurance Expense Machinery‚ Equipment‚ and Office Furniture Accounts Payable Taxes Payable Line of Credit Sales‚ Sales Returns‚ Net Sales – Relationship to Inventory Research & Development

    Premium Balance sheet Generally Accepted Accounting Principles Asset

    • 961 Words
    • 5 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Apollo Shoes: Case Study

    • 583 Words
    • 3 Pages

    my recent promotion; I look forward to working with you on the new Apollo Shoes engagement. I have read all the information you sent me about Apollo Shoes to gain a better understanding of the company‚ and I feel like I have a firm grasp of the company structure and environment. After reviewing the company’s last three board of directors meetings‚ I determined what expertise would be necessary to carry out the audit on Apollo Shoes. If you can assign these staff to our audit team‚ the productivity

    Premium Management Sociology English-language films

    • 583 Words
    • 3 Pages
    Satisfactory Essays
Previous
Page 1 2 3 4 5 6 7 8 9 50