WEEK 4 –INDIVIDUAL ASSIGNMENT 5.3 What are the primary and secondary reasons for conducting an evaluation of an audit client’s internal control? A. The auditor has two primary reasons for conducting an evaluation of a company’s internal control. 1) First, Sarbanes-Oxley (SOX) requires an audit of management’s assessment of internal controls for publicly traded companies. This type of audit is an integrated part of the financial statement audit. In some substances, the auditor issues
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Investment Investment frauds are becoming more common than ever. For example, high-return or risk-free investments, Pyramid schemes, and Ponzi schemes are the names of some of the most common scams in the United States according to the U.S Securities and Exchange Commission (SEC). There are several controls people and/or companies can take to protect themselves from these scams. For starter, choosing the right money manager is extremely important because they are the ones who will be dealing with
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Week 5 Team Assignment Team C ACC/545 October 12, 2015 Instrucor Name University of Phoenix Introduction Investments and marketable securities are very important when a company is in need of capital. If a company is need to report cash earnings at a higher rate as to not float expenses then short-term investments will be needed. However when dealing with marketable securities the maturity date will be in question as to journalize the transactions as capital or a cash equivalent. Both
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RECOMMENDED PLANT SPECIES ....................................................................19 EXHIBIT A REQUEST FORM 2 CHRISTENBURY MASTER ASSOCIATION, INC. ARCHITECTURAL CONTROL COMMITTEE INTRODUCTION The Architectural Control Committee (ACC) is providing the attached Architectural Design Guidelines (“Guidelines”) in accordance with that Declaration of Covenants, Easements, Conditions and Restrictions (“Declaration”), for purposes of establishing and maintaining exterior design elements
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Reading of When My Brother Was an Aztec Outside the ACC Theater on April 9th, the public was greeted by tables of refreshment including fruits cheeses and crackers which was a nice surprise. Although, I had expected a packed theater, only about forty people were waiting inside. The event started at 6:30 pm when Charlotte Gullick, the chair of the creative a writing department took the stage. After promoting some of creative writing classes at ACC, she described the significance of the Balcones prizes
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Memorandum To: Manager CC: CPA Report From: Victoria Callahan Date: 3/4/2013 Re: CPA Report Knowing what to write in the CPA report is important because of the information that is being used to make decision with. In the report it includes the questions that have been ask and what the responsibilities is for a CPA. The method that is used for deferred taxes is temporary difference. Temporary difference is the difference between the tax basis of an asset or liability and its reported (carrying
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The accounting valuation of bonds at the date of issuance takes time to process. The first step involves the issuing company arranging for underwriters to help market and sell the bonds. The second step is for the issuing company to obtain approval by the Securities and Exchange Commission to issue the bond, undergo audits, and issue a prospectus. The bond certificates are then printed to complete initial issuing of the bonds. The supply and demand of the buyers and sellers, relative risk, market
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Dates Accounts Debit Credit 1/1/2006 Investment in bonds available for sale $322,744.44 Cash $322,744.44 (To record purchase 12% bond) 12/31/2006 Cash $36,000.00 Investment in bonds available for sale $3,725.56 Interest income $32,274.44 (To record interest received from
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Part A: Long-term debt can generally be classified into three different categories: bonds payable, notes payable, and capital leases. Bonds payable can be secured by collateral, such as a mortgage bond, or unsecured, backed only by a company’s promise to pay. Most bonds carry a stated rate of interest but others are sold at a discount with an implied rate of interest inherent in the discounted sale. Some bonds can be converted into other securities. Other bonds can be called in by the corporation
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CPA Report ACC 545/Financial Reporting November 21, 2011 Deborah Asbury Introduction Certified public accountants (CPAs) have many professional responsibilities whether completing a review or an audit of the client’s financials. CPAs can also ask the opinion of other CPAs during the course of completing work for clients. The firm has been asked to provide information on the correct way to calculate deferred taxes, the correct way to report accounting changes and error corrections, and
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