Auditing Midterm Exam Page 1: Question: 1. The objective of the ordinary audit of financial statements is the expression of an opinion on: | | the fairness of the financial statements | | CORRECT | | | the accuracy of the financial statements | | | | | the accuracy of the annual report | | | | | the balance sheet and income statement | | | 2. The auditor's best defense when material misstatements are not uncovered is to
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Memorandum To: Richard Johnson, President From: Robert Kinkaid, Financial Vice President Subject: Appraise for the proposals Date: October 4. 2015 This memo writes for appraising president’s proposals. The Depreciation Method: It is hard to eliminate deferred tax liability through changing the depreciation method from tonnage-of-production method to straight line depreciation method. At the first, there is a comparison different depreciation method. Unit-of-production method is a depreciation
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STRATEGIC FINANCIAL MANAGEMENT [PA2] PRACTICE EXAMINATION PA2 Before starting to write the examination, make sure that it is complete and that there are no printing defects. This examination consists of 19 pages. There are 4 questions. READ THE QUESTIONS CAREFULLY AND ANSWER WHAT IS ASKED. To assist you in answering the examination questions, CGA-Canada includes the following glossary of terms. Glossary of Assessment Terms Adapted from David Palmer, Study Guide: Developing Effective
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acquisition cost. Case 5-5 In this real life case, students are asked to provide advice in resolving a salary dispute for a hockey team. The owner of the hockey team states that he cannot afford the demands from the union. However, consolidated statements are not being prepared for the combined operations of the hockey team and Stadium, which is a subsidiary of the hockey team. Case 5-6 In this case, adapted from a CA exam, management appears to be manipulating income to minimize the
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Financial Report on Walt Disney Company Financial Report on Walt Disney Company Introduction Walt Disney Company Walt Disney has been selected for analysizng the financial position for this assignements. The Walt Disney Company is regarded as the second largest and most utilzied entertainment and media companies after (TMC) Time Warner Company. The company was established on 16th October, 1923 by Roy Disney and Walt Disney. Throughout the years, it has emerged as one
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MEMO To: Mohamad Ali From: Bas van Hulsenbeek Concerning: critical analysis spin-out ------------------------------------------------- Date: October 20, 2014 Dear Mr Ali You have asked us, Hulsenbeek Strategic Issues Support, to prepare a memo providing a critical analysis of the current strategic and leadership challenges facing the spin-out of part of the business of Hewlett-Packard (“HP”) announced October 6th. This spin-out will result in two publicly traded companies:
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readingsandlearnings.wordpress.com Balance Sheet – snapshot at certain time Income Statement – how company performs during a time period: 1st, 2nd quarters, monthly, yearly… * 1. Revenue * 2. Profit * 3. Costs Pro-Forma – predictions, future, what if statement Common-Size - % statement vs numbers * Compare year to year and versus competitors EBITDA – cash flow Junk Bond – high yield bond (risky) Depreciation – non cash item Ratios (LLAPS) Liquidity = CA/CL Leverage = TD/TE Activity
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and reliable financial statement is very necessary for fair financial reporting. Fair and accurate reporting allows for a company to catch any mistakes, fraud and theft that may be present. This also allows for a company to protect itself from any potential bankruptcy that may be present while also saving the company’s outcome for a potential bright future. If fair and factually account reporting does not happen it can lead to a misstatement of the company’s financial statement. This Paper will discuss
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Ethics Case: Arthur Andersen’s Troubles Once the largest professional services firm in the world, and arguably the most respected, Arthur Andersen LLP (AA) has disappeared. The Big 5 accounting firms are now the Big 4. Why did this happen? How did it happen? What are the lessons to be learned? Arthur Andersen, a twenty-eight-year-old Northwestern University accounting professor, co-founded the firm in 1913. Tales of his integrity are legendary, and the culture of the firm was very much in his image
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MBA 8020 Corporate Finance Summer 2015 Midterm Case (individual assignment) Case: Star River Electronics Ltd. Student ID: By submitting this coversheet and case, I acknowledge that I have not given nor received any assistance on this assignment. If I used an editor the editor did not comment on the content, i.e., issues, analysis or recommendations. Introduction Star River Electronics is a joint venture company known to be a large manufacturer and supplier of high quality
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