Explore BrainMass


Research Process Paper--ATM bank data

Our exact point of research is "are ATM's used by customers with less than $500, $500-$1000, or balances over $1000?" I am responsible for the "Problem Definition" and need it to be about 300 words. Identify a research issue, opportunity, or problem from one of the data sets available on your student website. The data

WalMart Strategic Audit

1.Prepare a strategic audit for Wal-Mart. 2.Write a synopsis for Wal-Mart, covering the following points: * Tpye of Industry * Competitation in the industry * Tpye of market the company enages in * Areas for growth nationally and internationally * any additional aspects of the compnay that are important for understand

Audit Proposal - Kudler Fine Foods

Audit Proposal Management at Kudler Fine Foods now wants to see the proposed audit schedules for the systems analyzed by the team in Week Two. Prepare a brief of no more than 1,050 words in which you address the following: 1) Distinguish between the types of audits that might be used for each process. 2) Recommend

Cash Collections and Production: Thorton Company Example

I am doing something wrong as I keep coming up with numbers that are too small for the cash collections and I believe that the answer for #2 is D, but I would just like a breakdown of the problem to make sure I am doing it right. Thorton Company estimates its sales at 80,000 units in the first quarter and that sales will incr

Audit Control

Doug Iceberge, senior-in-charge of the audit at fisher industries, has decided to test the following two controls for Fisher's revenue process. 1. All sates invoices are supported by proper documentation, that is, a sales order and a shipping document. 2. All sales invoices are mathematically correct. Iceberge has decided

What internal and external auditors do to...

I need some help getting started on some research on the topic of what internal and external auditors do covering the following items: *providing information to users of the audit like investors *providing information to business owners *meeting the needs of managers *responsibilities to the audit committee *evaluating wh

Component of Audit Risk: Match type of risk to 10 situations.

Select the component of audit risk(a,b,c and d - below) that is most directly illustrated. The components may be used once, more than once, or not at all. a. engagement risk b. control risk c. detection risk d. inherent risk 1. A client fails to discover employee fraud on a timely basis because bank accounts are not

Stanley Bugg - bank financing, ownership rights and repossession

Stanley Bugg finally realized his dream and began operating Bugg's Bug Extermination as a sole proprietor. Stanley Bugg did not have the cash to purchase a truck, so he borrowed $10,000 from Sucker Bank & Trust. In exchange for the money, Stanley Bugg promised to pay the bank a monthly payment and entered into a security agree

Short term financing with Bank Loans

Short term financing with Bank Loans The Hand-to-Mouth Company needs $10,000 loan for the next 90 days. It is trying to decide which of the three alternatives to use: Alternative A: Forgo the discount on its trade credit agreement that offers terms of 2/10, net 30. Alternative B: Borrow the money from Bank A, which has of

Audit: GAAS, working papers, accepting engagement, predecessor auditor

5. Generally accepted auditing standards recognize two categories of evidential matter: underlying accounting data and corroborating information. In making an audit in accordance with GAAS: a. corroborating information is always required, while underlying accounting data may be gathered under certain circumstances. b. underl

The Farm Bank

These are the question that I need help answering: 1. Review your work and the model answer. What accounts for any noticeable differences between the two? (1 paragraph) 2. What alternatives are available to the Farm Bank? (1 paragraph) 3. What would you recommend and why? (1 to 2 paragraphs) 4. Provide justification (1

Possible audit adjustments: materiality levels

In your audit for calendar 2009, 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're closed," and management does not want to make any adjustments. Planning materiality for the

bank transfer instructions, how should fund be postured

The Bondport file at the text website will help in the solution of the following church endowment fund case study. (This is an actual situation with the original market price data preserved.) In May 1990, Local Church had an endowment fund with a market value of about $750,000. This fund was managed by a bank trust department wi

Discuss the importance of the Audit Committee to assure independence.

The audit committee helps to assure independence. The audit committee is comprised of directors, not managers, and their job is to appoint, retain, oversee, evaluate and terminate the audit firm. I think this is important because the process is not administered by executive level management, but the Board of Directors. I think

What is an audit program

a. What is an audit program? b. Identify two tasks that need to be accomplished in the framework for developing an audit program. c. What essential information is generally documented in an audit program?

Important information about Bank Reconciliation Statement

Consider the following information for Susan Supplies Store for the month of June. * Deposits in transits as of June 30, were $3,785.15. * Interest revenues earned was $1,300. * Bank service charges amounted to $48. * An error was discovered: The bank deducted from the Susan Supplies Store account a c

Audit Program Design

I need some help design tests of controls, substantive tests of transactions, and analytical procedures for the Payroll and Personnel cycle. I do not want it to merely focus on statistical procedures; but rather I should demonstrate an understanding of current industry practices including non-statistical procedures and integ

Definition, Advantages and disadvantages of the primary types of auditors

What are the advantages and disadvantages of the primary types of auditor? There are several types of auditors, the most common types of auditors are: ? Certified public accounting firms ? Government Accountability office Auditors ? Internal Revenue Agents ? Internal auditors Please explain the advantages and disadvant

Billings Container Company

Problem 17-40 Unit 9, Chapter 17 Rittenberg/Schwieger/Johnstone- Auditing 6e (Critique an Audit Report Qualified for a Scope Limitation) You are a senior auditor working for Rittenberg & Schwieger, CPAs. Your staff assistant has drafted the following audit report. You believe the scope limitation is significant enough to

Documenting Audit Findings in the Junior Auditor case

Most major accounting firms rely on three main revenue streams: Auditing services, Tax services & Business consulting. Since the Securities and Exchange Commission (SEC) requires publicly traded companies to be audited by an external CPA firm, auditing can be a significant part of most accounting firms' revenue. Review

The Benefits of Hiring an Internal Auditor

A client has an out-of-control system and a recommendation has been made to hire an internal accountant. Write a recommendation brief for the client in which you justify the benefits of using an internal auditor. Conclude your recommendation by referring a particular person for the job based on their background. Explain how t