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
business partners for Tabor. The team has compiled a preliminary list of organizations to present to Tabor. Once approved‚ an assigned outreach committee will begin interacting with businesses. The committee members will write an official outreach letter (pending approval) to present to each business in conjunction with other supplementary materials provided by Tabor. The committee will work together to formulate an elevator pitch‚ which will be tailored to different businesses. Once businesses express
Premium Social media marketing Social media Understanding
Design tests of controls‚ substantive tests of transactions‚ and analytical procedures for the following Apollo Shoes cycles: o Inventory and warehousing cycle o Cash cycle 1. Abstract‚ Inventory and warehousing cycle (tests of controls) YOLANDA 2. Intro‚ Inventory and warehousing (substantive tests of transaction) AMY 3. Conclusion‚ Inventory and warehousing cycle (analytical procedures) JUSTINIA 4. Cash cycle (Test of controls) ANNABELLE 5. Cash cycle (substantive tests of transactions
Premium Accounts receivable English-language films Economics
Cover Letter 2207 Leon Street‚ #206 Austin‚ TX 78705 August 31st‚ 2014 Dear Recruiting Manager‚ I am very interested in the Software Data Analyst position at GE. Currently‚ I am a graduate student at Mccombs School of Business majoring in business analytics. I believe my previous experience in consulting and leadership
Premium Graduate school Management Postgraduate education
Case 9: The travel expense billing controversy and the false claim act Date: September 19th 2012 1.Why would an independent audit firm‚ like PwC‚ that depends upon the maintenance of its reputation for integrity and professionalism‚ to retain and attract clients‚ risk the loss of that reputation by engaging in what appears to be unethical behaviour (not returning travel expense rebates)? Explain your answer and reasoning. According to Fleet (1991)‚ ethics are those standards or morals a person
Premium Ethics
Audit plan – Accounts Receivable and Notes Receivable Audit Procedures Audit Objectives W/P Ref. Initials Comments Accounts Receivable 1. Obtain an aged trial balance of individual customer accounts. Recalculate the total and trace to the general ledger control account. 2. Review the aging for large and unusual items. 3. Send confirmations to all accounts over $X. Select a random sample of all remaining accounts for confirmation. a.i.1.a.i.1.a. Investigate exceptions reported by
Premium Accounts receivable Balance sheet
[This sample letter is for REFERENCE ONLY. IMC schools should also refer to EDBC No. 17/2008 on “Appointment of Auditors and Audit Engagement Letter” or its update.] Sample Audit Engagement Letter (for REFERENCE ONLY) Our Ref. : Date : The Incorporated Management Committee of (name of IMC School) (“School”) Dear Sirs‚ |AUDIT ENGAGEMENT LETTER | The purpose of this letter is to set out the basis on which we are to act as
Premium Audit
Smith Systems Consulting – Software Engineering BSA 385 Iwona Rusin Smith Systems Consulting - Software Engineering Engagement Approach The term “Engagement Approach” refers to the company’s policies and procedures that help keep the employees dedicated‚ committed and focused on the future and success of the company‚ while‚ at the same time‚ enhancing their own self-worth. In order to achieve this‚ the company will do the following: Initiate a yearly performance review process which all
Premium Management Project management Software engineering
ICC-1 Apollo Shoes‚ Inc. Internal Control Questionnaire Sales Transaction Processing December 31‚ 2007 Objectives and Questions Yes‚ No‚ N/A Comments Environment: 1. Is the credit department independent of the sales department? Yes. Credit manager in Treasurer’s office 2. Are sales of the following types controlled by the same procedures described below? Sales to employees‚ COD sales‚ disposals of property‚ cash sales and scrap sales. No available information‚ apparently not applicable
Premium Invoice Accounts receivable Accounts payable
Eau Claire‚ WI 55555 RE: NON-ENGAGEMENT Dear Mrs. Togstad: Thank you for your interest in our law firm. As we previously discussed when you came into our office December 27 2013‚ I needed to do some research before accepting to represent you and your husband in this case. At this time I would like to inform you we are unable to represent your husband or yourself in this medical malpractice matter. After reviewing your husband’s medical records and consulting with another attorney I have decided
Premium Medical malpractice Injury Wisconsin