CHAPTER AUDIT PLANNING AND ANALYTICAL PROCEDURES THE FALL OF ENRON: DID ANYONE UNDERSTAND THEIR BUSINESS? 8 LEARNING OBJECTIVES After studying this chapter‚ you should be able to 8-1 Discuss why adequate audit planning is essential. Make client acceptance decisions and perform initial audit planning. Gain an understanding of the client’s business and industry. Assess client business risk. Perform preliminary analytical procedures. State the purposes of analytical procedures and the timing
Premium Auditing Internal control Management
Cited: Nguyen‚ T. (n.d.). How Often Do Publicly Traded Companies Prepare Financial Statements for External Reporting Purposes? Chron. Web Starbucks Corporation Case Study Mai Dinh Intermediate Accounting A311 Indiana University – Purdue University Fort Wayne September 30‚ 2014
Premium Balance sheet Income statement Generally Accepted Accounting Principles
Control at Happy Chips Incorporated……………..…………………………….4 – 7 Happy Chips Segment Profitability Analysis……………………………………………………..8 Happy Chips Income Statement and Annual Logistics Cost by Segment….……………………..9 References………………………………………………………………………………………..10 . Abstract The director of logistics at Happy Chips Incorporated had recently circulated a letter that came from the only mass merchandiser‚ Buy 4 Less‚ complaining of poor performance. Buy 4 Less is looking
Premium Revenue Price Cost
BCAF-05: ADVANCED AUDITING (MAJOR) Objective: This course aims at imparting knowledge about the advanced methods of auditing and there applications. Unit- I: Audit of Limited Companies: Inspection of documents Books and Registers. Audit of Preliminary expanses‚ profit prior to incorporation‚ public deposits‚ managerial remunerations‚ share capital. The Visible profits and dividends- meaning‚ provisions of Companies act in regard to declaration and payment of dividend. Auditor’s
Premium Internal control Audit Corporation
Case Study 1 Project Management Analysis in the Internet Forecasting Industry Group 4 Dilip Chinnaswamaiah‚ Ruiying Liu‚ Sandhya Aparna Pashikanti‚ Yingqi Yang‚ Hao Zhu Executive Summary In this case‚ our group used the techniques such as PERT‚ project crushing and visualization to solve the scheduling problems encountered in a development project at B&W Systems. We came up with the expected completion time and crashing solution to help the company meet the deadline. The problem was successfully
Premium Critical path method Project management Mathematics
Case 10-2: Philip Morris International Background Philip Morris International is the leading international tobacco company. PMI owns a total of 56 manufacturing sites‚ over 78‚000 employees around the world‚ and product availability over 180 countries. PMI holds an estimated of 28.1% international market shares‚ where US and China accounts for 12.1% of their total market shares. They are the largest company in 13 markets. They are the current owner of top international tobacco brands around
Premium Tobacco Marketing Nicotine
CASE STUDY INTRODUCTION Tapal is a shining example of a successful brand‚ born in Pakistan‚ competing neck to neck with a formidable multinational. Managing Director of Tapal Tea (Pvt.) Ltd.‚ Aftab Tapal belongs to the third generation of a business family. A well-trained tea taster and tea connoisseur himself‚ Aftab introduced new tea concepts and developed a wide range of tea blends catering specifically to the tastes of people throughout Pakistan. BRIEF HISTORY Tapal is neither a rags-to-riches
Free Tea
Part 2 – Contractual Formation A. Offer and Acceptance Pharmaceutical Society of Great Britain v Boots Cash Chemists The display of goods in a shop is only an offer to treat Australian Woollen Mills v Cth The offer must be in exchange for the other party’s consideration (quid pro quo). If it isn’t it is more likely a gratuitous promise Seppelt & Sons v Commissioner The use of the word “offer” is not conclusive Carlill v Carbolic An offer can be made to the whole world. Unilateral offers may require
Premium Contract Contract law
Internal Auditing (PPF) was designed by The IIA Board of Directors’ Guidance Task Force to appropriately organize the full range of existing and developing practice guidance for the profession. Based on the definition of internal auditing‚ the PPF comprises Ethics and Standards‚ Practice Advisories‚ and Development and Practice Aids‚ and paves the way to world-class internal auditing. This guidance fits into the Framework under the heading Development and Practice Aids. ISBN 0-89413-498-1 02404 01/03
Premium Auditing Audit Internal audit
Contents Case Question #1 3 Conclusion 3 Overview: 3 Contractual operational risk management/mitigation arrangements 3 Case Question #2 4 Conclusion 4 More accurate analysis of political risk 4 Involvement of a local partner 5 Better Dealing of MOU & PPA 5 Case Question #3 5 Conclusion 5 Mitigating political risks 5 Mitigating economical risks 6 ENRON: DABHOL POWER PROJECT Case Question #1 Critically analyze and comment on the contractual operational risk management/mitigation arrangements
Premium Risk Maharashtra Contract