1. The first procedure an auditor could use is completeness testing. This is used to make sure the auditor has all information he or she would need to accomplish the task they have been given. A second procedure that could be used is classification. This is when information given must be clarified to the auditor. This would be needed for this circumstance when there was no clear answer given as to why GM chose the 6.75 discount rate. Another procedure that should be used is verification, this is when an auditor verifies that the completed records given to him occurred. A fourth procedure is existence. An auditor should verify that the company has existing investments that our meeting the objectives of the pension plan. A final action that should be taken is clarifying the objectives of the pension plan to ensure it is on the correct track for employee retirement benefits. (http://www.accaglobal.com/content/dam/acca/global/PDF-students/2012s/sa_nov12_f8_fau_audit_procedures.pdf) 2. …show more content…
PCAOB AU 336 states that an auditor is expected to be knowledgeable about business matters in general, but cannot be expected to be an expert in all professions. This means when information outside of the auditors expertise needs to be gathered or interpreted a specialist can be hired. PCAOB AU 336 gives an example of valuation of art. An accountant cannot be expected to be able to tally up a company’s works of art as an asset and would need to hire someone who specializes in that field. An expert an accountant could seek out is a pension plan administrator who knew how the plan ran. The admin could get the accountant information like how much the plan should be expected to have funded to pay out to all employees as necessary.
The goal of communications is to make ethics a live, ongoing conversation. If ethics is something that is constantly addressed, referenced frequently in company meetings, and in personal conversations among managers and employees, then people are more aware and more willing to defend the company’s policies when they see or hear of problems. Employees will hold other employees responsible and accountable for living the company’s values.
I have selected Apple as the company that I will be following financially for the duration of Accounting 561. Not only am I a passionate Apple user, I also believe in how the company develops, creates, and markets their product lines for consumer use. They have created products that are so complex at their core with an extremely simple user experience, which has been nothing short of remarkable to watch from the time I was a child through adulthood. I look forward to studying the company and their financials further as we dive deeper into Accounting 561.
Transformative learning is basically changing the way one thinks, feels, acts, and sees life now, as opposed to the past. It can have a small or huge impact on the way they see different aspects of their life. The four stages of the transformative learning process are: Recognizing a specific problem – this is when one would decide if there is a need for change. They would recognize that there is a problem and specifically what it is. Confronting the problem intensely – They would then avoid apprehension and immediately confront the problem, while remembering to consider all possible solutions.
The purpose of this paper is to analyze the movie called “Steel Magnolias” (1989) directed by Herbert Ross.
The staff will be trained appropriately to fit their role in the program. The staff has a goal of being an effective staff in which they want to provide the best care for the suffering inmates. The top three health officials beginning with the psychiatrist, will be required to attend multiple mental health seminars in order to be an effective program. The staff will base their training off of moral standards such as the four basic rules by Suresh Bada Math which are “1. Protect, promote and endorse human rights of the prisoners. 2. Take care of the needs of the prisoners to the extent feasible within the prison environment. 3. identify patients who have health problems and get them the needed health care. 4. Pay special attention to the vulnerable
A portfolio is an organized, purposeful compilation of evidence documenting a child’s development and learning over time (McAfee, Leong, & Bodrova, 2016, p. 98). I thin k that implementing the Portfolio Plan would definitely contribute to the knowledge that I have already learned from my observation of Camden. After interviewing her mother and observing her, she seems to already be on a good path in her development and learning. I believe that some of the things that I have planned out on the Portfolio Plan would be very beneficial for her.
I hope you are having a great summer. I’m ready for the fall semester and working on getting all of my classes in order for this upcoming semester. My goal is get admitted at the W.P. Caret school of business, to do so I need to submit a transferred student portfolio, a resume and two recommendation letters .in the portfolio I will need to have taken specific classes I was able to finish all the needed classes with grades B and better. However, I still need to take ACC 230 OR ACC211 AND ALSO ACC 240 OR 212. They don’t have to be in succession so I enrolled in ACC 230 like I did with you last semester and would like you to approve my enrollment in ACC 212 with Rhonda Culver class number 24233 as my first preference or Andrew Hamilton ACC 240
however as a presenter I would not be against providing the sales people with helpful hints to make their job a little more efficient.
This paper will discuss the difference between procedural modules and object-oriented methods. How both methods work and some of the pro
1) Complete summary of the case study that identifies the key problems and issues, provides background information, relevant facts, the solution employed, and the results achieved.
Access the "Litigation" section of the SEC's website at www.sec.gov/litigation.shtml. Click on "Accounting and Auditing Enforcement Releases." Click on "AAER-3234" filed January 20, 2011. Read the release and the related SEC Complaint. Summarize the release and complaint in 2-3 pages (12-point, double spaced).
The government relies on collecting taxes in order to create revenue and function successfully. A decrease in taxes affects business and the government differently. A decrease in taxes is good for business and bad for the government. Many entitites rely on government funds in order to operate and function
Vanessa Lucas Manhiça Week 1 Homework Math Chapter 1 Problem 25 1 inch. = 12.5 ft Final Answer length= 22 feet height= 8 feet length
ABCT1D17 Assignment 1 (group project): Find two FF products for two different health benefits in the following table and fill in the require contents in the answer table below.
For management, they need to make estimates and judgments to write financial statements, such as choosing among alternative accounting principles by considering the existing and potential clients base of the firm; Whilst, the auditors are responsible of examining statements made by management and to express opinion on them (The Institute of Chartered Accountants in Australia, 2008).