...Auditing and Assurance Services 14th Edition By Arens, Beasley and Elder– Test Bank Score A Grade In your Quizzes (Exams) Click Here to Purchase the Test Bank All 26 Chapters Quiz Answers Email me if there is any problem or if you need help with your other classes assignments, problems or quizzes. ewood6449@gmail.com Auditing and Assurance Services, 14e (Arens) Chapter 1 The Demand for Audit and Other Assurance Services Learning Objective 1-1 1) The Sarbanes-Oxley Act applies to which of the following companies? A) All companies. B) Privately held companies. C) Public companies. D) All public companies and privately held companies with assets greater than $500 million. Answer Terms: Sarbanes-Oxley Act Diff: Easy Objective: LO 1-1 AACSB: Reflective thinking skills Topic: SOX 2) Which of the following is considered audit evidence? A) Oral statements Written Auditor made by management Communications Observation Y N N B) Oral statements made by management N C) Oral statements made by management Y Written Communications Y Auditor Observation Y Written Communications Y Auditor Observation Y D) Oral statements made by management N Answer Terms: Audit evidence Diff: Moderate Objective: LO 1-1 AACSB: Reflective thinking skills Written Communications N Auditor Observation Y 3) Evidence is paramount to audit and attestation engagements. List the four basic types of audit evidence. 4) The criteria by which an auditor evaluates the information under audit may vary with...
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... Salaries (administration) | 110 | | | | Rent and rates | 40 | | | | Heating and lighting | 10 | | | | Marketing | 30 | | | | Printing and stationery | 5 | | | | Insurance | 10 | | | | Telephone | 10 | | | | Depreciation | 45 | | | | | | 260 | | | OPERATING (OR TRADING)PROFIT | | | 100 | | INTEREST ON LONG TERM LOANS | | | 10 | | NET PROFIT BEFORE TAX | | | 90 | | CORPORATION TAX | | | 10 | | NET PROFIT AFTER TAX | | | 80 | | The uses to which profit is put are shown in: | | | | | | | | | | APPROPRIATION ACCCOUNT | | | | | NET PROFIT AFTER TAX | | | 80 | | DIVIDENDS TO SHAREHOLDERS | | | 20 | | RETAINED PROFIT | | | 60 | 1. From the above: you need to explain each row of the profit and loss account. 2. What explain does sales revenue show (use figures). 3. Explain what does cost of sales show? (use figures) 4. How do we work out gross profit (what does it show?)… etc… 5. Explain what does expenses show? (figures) 6. Explain operating costs (calculation and figure) 7. Explain Interest on long term loans (show) 8. Explain Net...
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...ASSIGNMENT 1 – ( INDIVIDUAL ) Question 1 Give the definition of accounting. Accounting is defined as practice and body of knowledge concerned primarily with methods for recording transactions, keeping financial records, performing internal audits, reporting and analyzing financial information to the management, and advising on taxation matters. It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting provides information on the resources available to a firm, the meansemployed to finance those resources, and the results achieved through their use. Question 2 Explain the process of accounting cycle. Identify the transaction or other recognizable event. Prepare the transaction’s source document such as a purchase order or invoice. Analyze and classify the transaction. This step involves quantifying the transaction in monetary terms (eg ; RM and cents), identifying the accounts that are affected and whether those accounts are to be credited or debited. Record the transaction by making entries in the appropriate journal, such as sales journal, purchase journal, or general journal. Such entries are made in chronological order. Post general journal entries to the ledger accounts. Prepare the trial balance...
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...rolaTola ka^pao-roSana Aa^f [iNDyaa ilaimaToD ³Baart sarkar ka ek ]pËma´ RailTel Corporation of India Limited (A Government of India Undertaking) (Ministry of Railways) No. RailTel/MUM/ PF/Rlys/2015-16 Dt. 15.12.2015 The FA&CAO Western Railway Churchgate, MUMBAI – 400 021 Sub: Deductions made from the salary towards PF Subscription. * Shri. B. S. Tahim, CSTE (Const)-I on deputation as Executive Director, Railtel Western Region, Mumbai ---- Please find herewith the Demand Draft No. 040475 dated 09.12.2015 of Rs. 6279/-, for which the details as under: 1 | Name | Shri. B. S. Tahim | 2 | Design | Ex. CSTE (Const)-II | 3 | PF Account No. | 00099739 | 4 | Details of DD | Rs. 6279/- | | PF subscription for the month of Nov-2015 | | Rs. Six Thousand Two Hundred and Seventy Nine only | PF Acct No. 00099739 | Please acknowledger the receipt. Beethi Joshi Dy. Manager (HR) RCIL/Mumbai DA: As above ------------------------------------------------------------------------------------------- xaoi~ya kayaa-laya : rolaTola ka^pao-roSana Aa^f [iNDyaa ilaimaToD¸ piScama rolavao maa[-Ëaovaova ka^mplao@sa¸ saonaapit baapT maaga-¸mahalaxmaI¸ mauMba[-¹ 400 013º Regional Office : RailTel Corporation of India Ltd. ,Western Railway Microwave Complex, Senapati Bapat Marg, Mahalaxmi, Mumbai – 400 013. rolaTola ka^pao-roSana Aa^f [iNDyaa ilaimaToD ³Baart sarkar...
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...CSR project Scope and objectives Project title Help farmers avail of appropriate (agriculture-related) banking services to improve the productivity of their farms * Understand the circumstances of the farmers * Educate them on the advantages of approaching banks (instead of money-lenders) * Identify banking schemes that could be helpful to the farmers in improving their returns from agriculture * Help them access the appropriate banking schemes Different SBI schemes available for farmers 1. AGRICULTURAL GOLD LOANS 2. KISAN CREDIT CARD (KCC) 3. PRODUCE MARKETING LOAN 4. KISAN GOLD CARD SCHEME (KGC) 5. SETTING UP OF AGRI-CLINIC & AGRI BUSINESS CENTRES 6. LAND PURCHASE SCHEME 7. SCORING MODEL FOR TRACTOR LOANS 8. FINANCING OF SECOND HAND / USED TRACTORS SCHEME 9. FINANCING POWER TILLERS 10. FINANCING FOR COMBINE HARVESTERS 11. SCHEME FOR FINANCING FARM MACHINERY – WHERE TANGIBLE ASSETS ARE CREATED 12. DAIRY PLUS SCHEME FOR FINANCING DAIRY UNITS 13. DAIRY SOCIETY PLUS - SCHEME FOR FINANCING DAIRY SOCIETIES 14. BROILER PLUS 15. SCHEME TO COVER LOANS FOR GENERAL PURPOSE UNDER - GENERAL CREDIT CARD (GCC) 16. SBI KRISHAK UTHAAN YOJNA 17. GRAMIN BHANDARAN YOJNA - CAPITAL INVESTMENT SUBSIDY SCHEME FOR CONSTRUCTION / RENOVATION OF RURAL GODOWNS 18. SCHEME FOR FINANCING PRIVATE COLD STORAGE/ PRIVATE WARE HOUSES FOR ONLENDING TO FARMERS 19. SCHEME FOR FINANCING SEED PROCESSORS 20. MORTGAGE LOAN TO SEED PROCESSING UNITS ...
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...Generic Rules All artefacts belong to the meta and not to their current holders or the ones that cleared it. Therefore any of the artefacts might be moved at any time during the server if the meta leadership orders it. In most situations artifact movement will be performed based on the rules mentioned below for each specific artefact. Keep in mind these are general guidelines and in the end it is the metas’ duty to decide in case of disputes or urgent needs. Most of the artefacts will be given to accounts that can use them best in most situations, and always for the benefit of the alliance. Artefact holders must always use the artefacts for the benefit of the meta, whenever possible. Priority to the usage of artefacts will be given to people owning large accounts, having exceptionally high production, ability to spend gold and are very active. This is very important in order to make sure that the maximum amount of accounts among the meta will get to reap the benefits. Priority to the usage of artefacts will be given to people that are always willing to help others, participate in alliance operations both offensively and defensively and generally contribute to the team effort. Please understand that not everyone can have the artefacts whenever they need them. The artefacts are limited and there must be an order in which people receive them. Communicating to the artefact managers early what artefacts you need and when, will increase the chances you will get them...
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...Introduction to Commercial Bank We are known as, the benchmark private sector bank in Sri Lanka. Over the years, we have with clear vision, set standards, created an identity and forged a unique trend in banking that has brought us recognition year after year. We have maintained our cultural identity, reached to the grass roots and created a style that has set the trend. Today, our superlative range of products and services, powered by state-of-the-art technological superiority and peopled by a dynamic, highly motivated team have made us what we are, the most progressive bank in Sri Lanka. THE FUTURE The immediate outlook for the local economic environment appears to be encouraging. The Bank is well positioned to capitalise on the opportunities emerging in the market due to the positive macroeconomic enviro nment in the country. The Banking industry operates basically on public confidence. The industry is governed by a set of regulations which necessitates changes or amendments due to the sophistication of the financial products and services it offers. The following regulatory changes which will come into effect in the ensuing year will have a significant impact to the operations of the banking industry. Our Vision "To be the most technologically advanced, innovative and customer friendly financial services organisation in Sri Lanka, poised for further expansion in South Asia" Our Mission "Providing reliable, innovative, customer friendly financial services,...
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...Bill of Exchange 8 G LEARNING OBJECTIVES After studying this chapter, you will be able to : • state the meaning of bill of exchange and a promissory note; • distinguish between a bill of exchange and a promissory note; • state the advantages of bill of exchange; • explain the meaning of different terms involved in the bill transaction, • record bill of exchange transactions in journal; • record transactions relating to dishonour, retirement and renewal of bill; • describe the uses of bill receivable and bill payable book; • state the meaning and use of accommodation bill. oods can be sold or bought for cash or on credit. When goods are sold or bought for cash, payment is received immediately. On the other hand, when goods are sold/bought on credit the payment is deferred to a future date. In such a situation, normally the firm relies on the party to make payment on the due date. But in some cases, to avoid any possibility of delay or default, an instrument of credit is used through which the buyer assures the seller that the payment shall be made according to the agreed conditions. In India, instruments of credit have been in use since time immemorial and are popularly known as Hundies. The hundies are written in Indian languages and have a large variety (refer box1). Box 1 Hundies and its Types There are a variety of hundies used in our country. Let us discuss some of the most common ones. Shahjog Hundi: This is drawn by one merchant on another, asking the latter...
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...FRANK WOOD’S business accounting TENTH EDITION 1 FRANK WOOD & ALAN SANGSTER Additional student support at www.pearsoned.co.uk/wood FRANK WOOD’S business accounting 1 Visit the Business Accounting, tenth edition Companion Website at www.pearsoned.co.uk/wood to find valuable student learning material including: l l l l l l Learning objectives for each chapter Multiple choice questions to help test your learning Review questions and answers Links to relevant sites on the web Searchable online glossary Flashcards to test your knowledge of key terms and definitions Frank Wood 1926–2000 FRANK WOOD’S business accounting TENTH EDITION 1 FRANK WOOD BSc (Econ), FCA and ALAN SANGSTER BA, MSc, Cert TESOL, CA Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE and Associated Companies throughout the world. Visit us on the World Wide Web at www.pearsoned.co.uk First edition published in 1967 Second edition published under the Longman imprint in 1972 Third edition published in 1979 Fourth edition published in 1984 Fifth edition published in 1989 Sixth edition published in 1993 Seventh edition published in 1996 Eighth edition published under the Financial Times Pitman Publishing imprint in 1999 Ninth edition published in 2002 Tenth edition published 2005 © Frank Wood 1967 © Longman Group UK Limited 1972, 1979, 1984, 1989, 1993 © Pearson Professional Limited 1996 © Financial Times Professional Limited 1999 © Pearson Education Limited...
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