Please answer to the following questions. Support your answers with academic or real-life criminal justice examples to accentuate your point. 1. Research and locate a company who was audited by an outside source and explain the method, technique, and findings of an audit. 2. Do you think that it is a wise investment to contrac
The financial statements are the representation of management. How can investors and other third parties trust this information? Discuss the CPA's role as an external auditor. Do research on the Internet and show the reference for the information. I just need to get started here - thank you.
Explain how you plan for conducting an audit. Explain the objective of conducting an audit and the responsibilities involved in the audit process.
Auditors accumulate evidence to: a.) defend themselves in the event of a lawsuit b) justify the conclusions they have otherwise reached c) satisfy the requirements of the Securities Acts of 1933 and 1934 d) enable them to reach conclusions about the fairness of the financial statements.
Please help me with this operation question If customers arrive at a single drive-in window at a local bank one every four minutes on the average, and if you can serve a customer in three minutes on the average: How long should customers expect to be at the bank facility on the average?
Explain the characteristics of a compliance audit. Response must be sustantive.
Explain the importance and demand for audit and other assurance services. Explain the auditor's role in providing assurance.
What are the advantages and disadvantages of the primary types of auditors? Which type interests you the most? Please explain.
Describe the relationships between cash in the bank and transaction cycles. Where are you likely to gain the most accurate information?
Describe the methodology for designing tests for the details of balances in accounts payable. How might your methodology affect the rest of the audit?
The Audit of Cash: Design the internal controls for cash Study Level: Master in Accounting.
Commercial paper was purchased in the secondary market 30 days from maturity at a bank discount yield of 9 percent. Ten days later, it was sold to a dealer at an 8 percent discount rate. What was the investor's holding-period yield?
What are the value and significance of COSO, SOX404, SAS 112, and other pieces of legislation affecting the role of the accountant and auditor? Do these regulations protect the auditor or client more? if so why?
Was not able to attach PDF due to size, but copy of Case Study Crazy Eddie, Inc. available at http://business2.fiu.edu/1048733/www/Spring_2010_ACG6686_RD4/Crazy%20Eddie.pdf 1. Compute key ratios and other financial measures for Crazy Eddie during the period 1984-1987.Identify and briefly explain the red flags in Crazy Edd
JUST FOR FEET, INC. CASE STUDY QUESTIONS Based on Case Study1.2 Just for Feet, Inc. Contemporary Auditing Real Issues and Cases 7th ed. Michael Knapp 1) Prepare common-sized balance sheets and income statements for Just for Feet for the period 1996-1998. Also compute key liquidity, solvency, activity, and profitability
You as the senior Internal auditor have just started an audit to verify that the payment of invoices matched the amount on the invoice. During the first day there three employees came to see your and related the following statement. That stated that another employee had embezzled $35,634 dollars in the last 3 months. Yo
A portion of the current assets section of the December 31, 2010, balance sheet for Gibbs Co. is presented here: Accounts receivable $ 23,400 Less: Allowance for bad debts (2,500) $ 20,900 -------------------------------------------------------------------------------- The company's
As an auditor for Frankens Markets, you discovered fraudulent activities. In your previous discussions with management, no one with the Franken organization identified fraudulent behavior or activity, and any questions relating to such matters were met with defensive behavior. How might you address this situation?
Ben, an accountant, certifies several audit reports on Corporate Business, Inc. (CBI), Ben's client, knowing that CBI intends to use the reports to borrow money from Delta Credit Company. Ben believes that the reports are true and does not intend to deceive Delta, but does not check the reports before certifying them. Can Ben be
Business Insight (A Special Report); Innovation: Staring You in the Face; The path to new products might start with the customer data you've already collected; You just don't realize it Ranjay Gulati, James Oldroyd, Phanish Puranam. Wall Street Journal. (Eastern edition). New York, N.Y.: Sep 22, 2008. pg. R.9 Abstract (Su
Please help me with the attached problem. Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company's fiscal year-end. The 2010 balance sheet disclosed the following: Current assets: Receivables, net of allowance f
Cirrus Logic Inc. is a leading designer and manufacturing of advanced integrated circuits that integrate algorithms and mixed=signal processing for mass storage, communications, consumer electronics and industrial markets. The company's 2009n financial statement contained the following information: ($ in thousand) Balan
In your audit of Aviary Industries for calendar year 2007, you found a number of matters that you believe represent possible adjustments to the company's books. These matters are described below. Management's attitude is that "once the books are closed, they'e closed," and management does not want to make any adjustments. Pl
See attached Excel document. Compute the Days in Accounts Receivable amounts for the end of each quarter. Month Revenues Accounts Receivable at End of Quarter January $350,000 $275,000 February 375000 290000 March 225000 200000 1st Quarter Total $950,000 $765,000 April $300,000 $270,000 May 320000
Compare the relationships among auditor, client, and external users. How do professional standards for CPA's govern these relationships?
See attached file for proper format. Dolce Co. which began operations in January 1, 2011, appropriately uses the installment sales method of accounting to record revenues. The following information is available for the years ended December 31, 2011 and 2012. 2011 2012 Sales $1,000,000 $2,000,000 Gr
How can management practices speed receivables collection? Which practices slow this collection? How have recent changes in the banking industry influenced the process?
Read the Part II Case Study beginning on page 277 after Chapter 7. Brussels and Bradshaw Investment Bank (B&B) (attached) Required: ? Identification and summary of the key organizational behavior issues evident in the case ? Reflection on the identified issues along with recommendations or potential solutions to identi
Why is it important to collect accounts receivable as soon as possible?
TAX STRATEGY PROBLEM I:1-48 Pedro Bourbone is the founder and owner of a highly successful small business and, over the past several years, has accumulated a significant amount of personal wealth. His portfolio of stocks and bonds is worth nearly $5,000,000 and generates income from dividends and interest of nearly $250,000 p