Section A Under Case Study (Newspaper) HB Global 1. Types of audit opinion Qualified opinion * A qualified opinion report can result from a limitation on the scope of the audit or failure to follow generally accepted accounting principles Adverse opinion * It is used only when the auditor believes that the overall financial statements are so materiality misstated or misleading that they do not present fairly the financial position or results of operations and cash flows in conforming
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organisational plan and all the related measures that an entity adopts to: * safeguard assets * encourage adherence to company policies * promote operational efficiency * ensure accurate and reliable accounting records. It is either an administrative control or an accounting control Characteristics of an effective internal control system include: * Competent‚ reliable‚ and ethical personnel * Assignment of responsibilities * Proper authorisation * Separation of duties
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XACC/291 Principles of Accounting II Week 2 February 8‚ 2015 Exercise E9-1 The following expenditures relating to plant assets were made by Spaulding Company during the first 2 months of 2011 (determine cost of the plant acquisitions). 1. Paid $5‚000 of accrued taxes at time plant site was acquired. 2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit. 3. Paid $850 sales taxes on new delivery truck. 4. Paid $17‚500 for
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not sold by yearend. This can inflates the sales figures which will increase your assets. By Redlands not recognizing the allowance for the merchandise when the products are returned‚ this results in false reporting of assets and cash flow. If accounting records of the company are reporting false monetary‚ then the company may over extend themselves. This is poor management and can be detrimental to the company. Vendor Dinging: Incorrect Practice: Redlands made a false claim to some
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Chapter 3-1 The Accounting Information System Chapter 3-2 Financial Accounting‚ Fifth Edition Study Objectives 1. Analyze the effect of business transactions on the basic accounting equation. 2. Explain what an account is and how it helps in the recording process. 3. Define debits and credits and explain how they are used to record business transactions transactions. 4. Identify the basic steps in the recording process. 5. Explain what a journal is and
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Case Study 2: Green Computing Research Project Part 2 Dr. Urimindi CIS 517 August 11‚ 2013 Requirements Traceability Matrix Project Name: Green Computing Research Project Project Manager: Requirement No. | Name | Category | Source | Status | 1 | Data Center | Building | | | 2 | PC computers and laptops | Hardware | | | 3 | Recycling | Building | | | 4 | Virtualization and Cloud Computing | Hardware | | | 5 | Solar Computing | Energy Source | | | 6 | Electricity output | Energy
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Abstract The observance of international accounting standards is playing an increasingly significant role in dynamic regulatory developments and presents several challenges‚ which may necessitate a variety of procedural and technical data processing changes. Regulatory consolidation under the influence of international accounting standards The observance of international accounting standards is playing an increasingly significant role in dynamic regulatory developments. On the one hand‚ publicly
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Staffing Report One Table of Contents 1. Forecast of Labor 2. Markov Analysis Information 3. Demographic Categories 4. Promotion Practices 5. Organizational Memo Forecast of Labor: MGT Consulting gathered information from the previous year (2010) and used a Markov analysis to generate a plan of action for the employment needs for Tanglewood in 2011. The Washington market is very stable for Tanglewood and we decided that the current workforce will be sufficient for the 2011 forecast
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Alternative: One alternative Old Mule Farms can choose is doing nothing‚ and just remain what they did in the past. Right now Old Mule Farms tried to minimize their expense. They sold some of their land to generate funds to cover operating cost; they rented pasturage to feed their cows; they basically focused on feeding heavier cows in order to get heavier calves‚ and then can generate more revenue. They also provide dietary supplements and minerals to maintain calves’ health and productivity. Old
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Reviewing the investments in your portfolio‚ you realize that the carbon footprint connected to your investments is relatively large‚ but your oil company stock also pays for the family holidays each year. The company’s website also says that it uses a high proportion of its profits to invest in green and renewable fuels of the future. Do you keep the stock or sell? In my opinion‚ I would keep the stock. I would weigh the advantages and disadvantages of the company. Even though the company has a
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