Audit and Assurance 1. It intends to strengthen and enhance the students’ understanding in auditing. Among the topics that will be discussed are code of ethics, auditors’ liability and in-depth explanations on analytical procedures, computer assisted audit techniques, audit sampling, materiality and audit risk, group audit and current issues facing the auditing profession. This course will justify other activities than financial statement audit that can be performed by a public accountant like performance/operational
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management and a business contingency plan for our client. Both the legal and IT departments have expressed their concerns regarding the ethical use and protection of sensitive data, customer records, and other information systems content of both the firm and the client. In an effort to follow the company’s goal of each project building employee confidence and job satisfaction, the team has been allowed to select our first client. The client we choose can be a former or current employer, any local business
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Executive Summary TELUS is one of Canada’s leading telecommunications companies. The revenue of the company is generated mostly through residential and corporate phone service. The company has been able to stay ahead of the competition by innovating and providing the best solution to Canadians at home, in the workplace, and on the move. For them to continue to strive, they need accurate financial reporting and up-to-date accounting policies in today’s competitive environment. Introduction
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categories: * liquidity ratios measure a firm's ability to meet its current obligations. * profitability ratios measure management's ability to control expenses and to earn a return on the resources committed to the business. * leverage ratios measure the degree of protection of suppliers of long-term funds and can also aid in judging a firm's ability to raise additional debt and its capacity to pay its liabilities on time. * efficiency, activity or turnover ratios provide information
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ADMS 4510 term project Q1 We agree with most proposals in paragraph 35 and 36. However, some requirements are ambiguous and further clarifications are required. When reviewing the exposure draft, we have several major concerns with satisfaction of performance obligations. There should be persuasive evidence to show the existence of an agreement. Delivery of goods should have been occurred and services should have been rendered for revenue
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ACCT 5101 (Section 004) Homework Assignment #1 (2011-9-13-Tuesday) Jonathan Nam 1. Briefly describe the primary purposes for the development of the codification. • Simplify user access by codifying all authoritative US GAAP in one spot. • Ensure that the codified content accurately represented authoritative US GAAP as of July 1, 2009. • Create a codification research system that is up to date for the released results of standard-setting activity. • Reduce the amount
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CHAPTER 11 CURRENT LIABILITIES AND PAYROLL 1 EYE OPENERS 1. A discounted note payable has no stated interest rate, but provides interest by discounting the note proceeds. The discount, which is the difference between the proceeds and the face of the note, is the interest and is accounted for as such. 2. a. Income or withholding taxes, social security, and Medicare b. Employees Federal Income Tax Payable, Social Security Tax Payable, and Medicare Tax Payable 3. There is a ceiling
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transactions……………………...3 that have a material effect on the financial statements were none……………………………………………......3 The trend in total assets and total liabilities for the years presented…………………………………………...…3,4 The company’s three largest assets for the most recent year presented……………………………………….…..4 The company’s three largest liabilities for the most recent year presented……………………………………….4 The types of stock the company has and the outstanding shares for each type of stock for the most recent
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Intuit Inc Financial Assessment Student’s Name Instructor’s Name Course Title Date Background Information The company chosen for the purpose of this project is the Intuit Inc. This is a technology company founded in 1984, with headquarters in California. Intuit Inc. is a provider of that seeks to provide financial management and innovative solutions to its customers who are the SME’s Accounting professionals and financial institutions. Intuit Inc. provides solution to its customers on significant
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acquisitions that Snyder’s-Lance has acquired. Total liabilities have increased from 2011. As the company grows and acquires more companies the liability is going to increase and total assets will also increase with those purchases. The three largest current liabilities for Snyder’s-Lance are Accounts payable, Accrued compensation, Current portion of long-term debt. Long term debt and deferred income taxes are the largest noncurrent liabilities. The company currently offers common stock and preferred
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