Chieftain International, Inc. is an oil and gas exploration and production company. A recent balance sheet reported 208 million liabilities, all of which were short-term accounts payable.…
Our auditors understand you are responsible for making all the financial records and responsible for the information. Our goal is to advise you to take the appropriate accounting principles and assist in the preparation of your financial statement; but the responsibility for the financial statement reminds on you. The responsibility includes the maintenance and establishment of adequate records and effective internal controls over financial reporting. A member of management will be responsible for identifying and ensuring the entity complies.…
Two business sectors that I would chose to work for would be assurance and audit for the government and the second option would…
Hugo H. Hanson, II CPA P.C. is a certified public accounting firm that is located in Weaverville, North Carolina. Hugo H. Hanson, II CPA P.C. carries out small business specific services such as QuickBooks desktop and online training and installation and support, payroll services, bookkeeping, corporate and LLC tax returns, and financial advice. This certified public accounting firm offers tax services such as individual taxes for all 50 states and multiple state returns, business taxes for corporations, S- corporations, LLCs in all states, non-profit returns – 990s, trust returns – 1041s, as well as tax planning and advice. Hugo H. Hanson, II CPA P.C. strives to guarantee friendly and efficient service. Hugo H. Hanson, II CPA P.C. provides…
Students' papers are evaluated based on how well they address the topic, critically evaluate their readings and research, employ APA style. Paper topics should be appropriate for the week in which the student posts. For example, papers on combined corporate entities should be presented in the segment of the course related to consolidations; papers related to international accounting should be presented in the international segment, while papers on governmental and non-profit accounting should be presented in the governmental and non-profit accounting segment. For the mutual benefit of all, students should equally distribute their selection of topics.…
1. Who are the firm’s auditors? Do they provide a clean opinion on the financial statements?…
has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated…
Marketing Accounting 30, 2005 p35 Microsoft targets CPAs with application. (certified public accountants, Microsoft Professional Accountants Network) Stacy Cowley. The Practical…
An additional piece of transaction information that could be recorded in an information system for a purpose other than the financial…
I would like to start off with a simple, yet powerful quote, “You miss 100% of the shots you don’t take.” -Wayne Gretzky. This quote does truly speak levels, which is why when I take shots I go big or I go home. I want to become a registered CPA and I would like to become the President of the University of Central Florida’s Phi Beta Lambda. I believe I can achieve these goals because of how I have adapted, developed, and changed over just my high school years. I would like to start off by saying I was not a public school child initially, my mother homeschooled me. In fact, 9th grade year was my first year in public school. I was an average teenager, I took all regular and one intermediate class. Little did I know I would be taking dual enrollment…
PART 1: LEGAL FUNDAMENTALS .............................................................................................1 SECTION 1-1: INTRODUCTION TO LAW ......................................................................................... 1 Definition and Purpose of Law......................................................................................................... 1 Business Law versus Business Ethics ........................................................................................... 2 SECTION 1-2: SOURCES OF CANADIAN LAW AND THE LEGAL SYSTEM ............................. 2 Categories of Law.............................................................................................................................. 2 Systems of Law: Civil Law and Common Law .............................................................................. 3 Sources of Law: The Constitution, Legislation, and the Courts ................................................. 4 SECTION 1-3: USING THE COURTS - AN OVERVIEW OF CIVIL PROCEDURE ...................... 9 The Court System.............................................................................................................................. 9 The Litigation Process .................................................................................................................... 11 Alternative Dispute Resolution ...................................................................................................... 15 Administrative Tribunals ................................................................................................................. 16 STUDY QUESTIONS FOR PART 1: LEGAL FUNDAMENTALS .................................................. 17 ANSWERS TO STUDY QUESTIONS FOR PART 1: LEGAL FUNDAMENTALS ...................... 19 PART 2: THE LAW OF TORTS…
Working overtime or extra hours will not be a problem for me, because I used to work 10 hours per day and to work overtime to finish some special tasks in my previous job. Sometimes, I spent my personal time on resolving some potential risks and problems that I found.…
Availability of adequate technical, financial, and other resources to complete development and to use or sell the intangible asset…
The major accounting regulatory bodies would include the Securities and Exchange Commission, American Institute of Certified Public, Financial Accounting Standards Board, and Government Accounting Board. Each regulatory body contributes to the ethical over watch of companies by keeping them transparent, follow GAAP, and other ethical practices that should be used by accountants and their companies. The Securities and Exchange Commission regulates companies in how they report their financial statements and to make sure that investors receive all necessary information that involves investment decisions. This commission helps ensure that investors are not deceived and allows them to make better investment decisions. The American Institute of Certified Public Accountants sets guidelines and standards on how companies should be audited, and set standards in accounting practices that certified public accountants should follow. Like the American Institute of Certified Public Accountants, the Financial Accounting Standards Board sets up standards for companies and how they should be reporting their financial reports. Companies that follow the FASB standards can provide more accurate financial information than those who do not. It is important to note that the FASB is for the private sector, the compliment to this regulatory body would be the Government Accounting Standards Board who sets standards for government agencies, programs, and bodies. The GASB is crucial for the federal government because it sets standards on how government agencies report their finances. For example, every state who reports their finances over a certain accounting period would all have the same format in how their balance sheets, financial statements, and other records are presented. This makes the reports easy to understand and compare against other…
Prior to coming for Lead Auditor course, read each of the following questions carefully and answer with reference to ISO 9001:2008. Try to identify the applicable clause number in each case. .…