ACCOUNTING THEORY AND PRACTICE (FAR 600) Teaching and Learning Arrangements (SEMESTER: JAN 2007 – APRIL 2007) COURSE CODE : FAR 600 PROGRAM : BACHELOR OF ACCOUNTING (HONS) CREDIT HOURS : 4 CONTACT HOURS : 4 STATUS : CORE SYNOPSIS This financial accounting course exposes students to accounting theory, corporate accounting policies and financial reporting practices. The importance of history is introduced through
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CHAPTER 1 AN INTRODUCTION TO ASSURANCE AND FINANCIAL STATEMENT AUDITING Answers to Review Questions 1-1 The study of auditing is more conceptual in nature compared to other accounting courses. Rather than focusing on learning the rules, techniques, and computations required to prepare financial statements, auditing emphasizes learning a framework of analytical and logical skills to evaluate the relevance and reliability of the systems and processes responsible for financial
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Question No. 1 The primary responsibility of external auditor is to report on the organisation's financial statements. The external auditor’s aim is to determine whether the statements fairly present the financial position of the organisation and the result of its operations for the period. But the Internal Auditors have a different function. It is broader and deeper than that of the external auditors. It furnishes managers throughout the organisation with information needed to effectively discharge
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competitive retail industry, Macy’s and Dillard’s hold rank among the largest fashion apparel and home décor retailers. While both compete for the same target market, an examination of each companies’ annual report reveals important differences in their strategies, which inherently differentiates the report presentation, accounting policies, and financial condition of the two corporations. Brief Overview Macy’s, Inc. was founded in 1858 by a Quaker businessperson named Rowland Hussey. The company
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(Font Andalus or Calibri 11) Holy Angel University (Font Andalus or Calibri 11) The sequence outline should be done as follows: I. Objective The objective should contain the purpose of the report material, expectation and even the delimitation of the report. At the end of this activity, every group is expected to gain and provide the following learning outputs: a. To appreciate and understand the immediate physical geographic background of certain Kapampangan
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Calculating Ratios Format your assignment consistent with APA guidelines. • FIN 370 Week 2 STRATEGIC PLANNING The topic is Boeing. Find the company selected for the Week 2 assignment's annual report from SEC.gov or the investor relations section of the company's website. Be careful not to use quarterly reports. Write a 350 word paper in which you describe the relationship between strategic and financial planning. Include the following: • How the initiative affects the organization's financial planning
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Assurance services include attestation services, which are any services in which the CPA firm issues a report that expresses a conclusion about the reliability of an assertion that is the responsibility of another party. The four categories of attestation services are audits of historical financial statements, attestation on the effectiveness of internal control over financial reporting, reviews of historical financial statements, and other attestation services. 2. Accounting and bookkeeping services
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Practitioners’ Forum at Mainland Hotel, Lagos on 3rd August, 2010 ____________________________________________________________________ Abstract Good corporate reporting is generally an indication of competitiveness and superior corporate governance. Good reports show initiative and effort on the part of the preparers. Significant changes in the corporate external reporting environment have led to proposals for fundamental changes in corporate reporting practices. A variety of new information types are been
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the prospective financial statements. Philippine Standard on Assurance Engagements (PSAE) 3400 (previously PSA 810), “The Examination of Prospective Financial Information” establishes standards and provides guidance on engagements to examine and report on prospective financial information including examination procedures for best-estimate and hypothetical assumptions. The general guidelines include the following: Acceptance of Engagement Before accepting an engagement to examine prospective
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Case 1 - Exercise 2 King and Company PRO FORMA AUDITOR'S REPORT To The Board of Directors of The Lakeside Company, We have audited the accompanying balance sheet of The LakeSide Company as of December 31, 2011, and the related statements of income, retained earnings, and cash flows for the year then ended. These financial statements are the responsibility of the Company's management
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