Diaz SUMMARY: This instructional case demonstrates auditors’ use of analytical procedures during the planning/risk assessment phase of a financial statement audit. An Excel spreadsheet enables instructors to embed up to seven operating problems or potential accounting issues into a fictitious consumer electronics manufacturer’s current year financial statements. Questionnaires from students at two universities indicate that the case is effective at helping undergraduate auditing students understand
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executives (CEO’s, CFO’s, etc.) to certify the company’s financial statements each time those reports are filed with the Security and Exchange Commission (Brigham & Ehrhardt, 2014 p 70). The impetus for passing Sarbanes-Oxley was due to the numerous corporate scandals that had come to plague the corporate world in the United States prior to the turn of the millennium. A common theme of these corporate scandals was the manipulation of company financial reports to hide certain accounting transactions from
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American International University-Bangladesh (AIUB) INTERNSHIP RESEARCH REPORT ON “Financial Performance Analysis of GrameenPhone Ltd.” An Internship Report Presented to the Faculty of Business Administration in Partial Fulfillment of the Requirements for the Degree of Bachelor of Business Administration Supervised By: Farah Rezwan Faculty, School of Business Administration Department of Finance Submitted By: Shafi,Hasibuzzaman Student, School of Business
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(1.1) Internal It will be easier for the owners if funding has its options to select types of financing that fit their needs for the companies. 1.) Retained Earnings – Is a quick source of internal financing to be used which is a liquid assets. It is the proportion of the net income that have retained from a company and not paid out. 2.) Current Assets – Consistently, cash or any preferences that is easy to convert in cash. You can actually deprive from those stocks and use the procedure
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Managerial Perspective on Financial Accounting Accountancy 401X; Fall 2004 Michael J. Sandretto, 225C David Kinley Hall (217) 244-6410 (office); (217) 352-4832 (home, before 10:30 p.m.) sandrett@uiuc.edu or michaeljsandretto@earthlink.net Texts: Antle, Rick, and Stanley J. Garstak, Financial Accounting, Southwestern (United States), second edition, 2004 (Antle). Palepu, Krishna G., Paul M. Healy, and Victor L. Bernard, Business Analysis and Valuation: Using Financial Statements, Text Only, Southwestern
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LO1 Understand the sources of finance available to a Business Finance is the most vital thing to run the business. Companies operating as commercial entities must have sufficient cash balances to facilitate their smooth operations. Cash requirement can be raised from different sources, ranging from equity, various forms of debt, to internally generated funds through retained earnings which would otherwise be distributed to shareholders (Myers and Myers, 1991; J. Gitman, 1991). The sources of finance
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California Public Employees Retirement System, China Airlines Users of accounting information What is financial reporting? Generally accepted accounting principles Accounting organizations Investment return Accounting terminology Accounting organizations Financial and management accounting Management accounting information Accounting organizations Purpose of an audit Audits of financial statements Ethics and professional judgment Careers in accounting Home Depot, Inc. general information Learning
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A. Feasible Accounting Standards Body. B. Financial Accounting Standards Board. C. Financial Auditors' Standards Body. D. Financial Accounting Studies Board. 6) GAAP stands for A. Generally Accepted Auditing Procedures. B. Generally Accepted Auditing Principles. C. Generally Accepted Accounting Procedures. D. Generally Accepted Accounting Principles. 7) Which of the following statements is not true? A. Expenses increase stockholders'
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framework 3 Historical Background 5 The Scandal – what happened 6 PENALTIES 7 How the scandal relates to accounting theory 8 RELATION TO POSITIVE ACCOUNTING THEORY 9 Conservatism Principle 9 Lack of Reliability 10 Lack of Relevance 11 Financial Misstatement 11 Conclusion 12 Bibliography 14 Insight on WorldCom Scandal ABSTRACT The scope of this paper deals with the WorldCom accounting scandal of the early 2000’s as it relates to elements of accounting theory. The discussion will
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Lesson Preparation Project Chapter 11: Earnings Management 11.1 Overview “Earnings management is the choice by a manger of accounting policies so as to achieve some specific objective” There are two ways to think about earnings management: as an opportunistic behaviour by managers to maximize their utility and from an efficient contracting perspective. Issues arise in regards to earnings management due to the choice of accounting policies, discretionary accruals, and finally the line
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