Classes of Assertions: Classes of Transactions and Events for the Period Occurrence: transactions that have been recorded have occurred Completeness: All transactions and events that should have been recorded have been recorded Authorization: All transactions and events have been properly authorized Accuracy: Amounts have been recorded properly Cutoff: Transactions and events have been recorded in the correct accounting period Classification: transactions and events have
Premium Auditing Internal control Audit
SYLLABUS ACC/491 Contemporary Auditing I Copyright ©2014 by University of Phoenix. All rights reserved. Course Description This course is the first in a two-part series that deals with auditing a company ’s financial reports‚ internal controls‚ and Electronic Data Processing (EDP) systems. Topics include auditing standards‚ evidence‚ audit planning and documentation‚ materiality and risk‚ internal control‚ statistical tools‚ and the overall audit plan and program. Course Dates Nov 11‚ 2014 - Dec
Premium Auditing Internal control Audit
suits Rendell Company plus some additional control system in attaining the company’s main objectives. We will be also tackling the roles‚ functions and responsibilities of a controller in an organization. This case takes us into Rendell Company which is currently having problems between the corporate controller and the divisional controller. We assessed the advantages and disadvantages of the organization structure of Martex whether it can be applied and be implemented to Rendell Company in order to
Premium Control theory Management Control
accumulated during expansionary periods. Over the next year the unemployment rate is expected to decline at a slow pace keeping consumer confidence low. In the short run‚ it is not likely that household spending will increase significantly. Industry Analysis The last several years were also tumultuous for the U.S. auto industry. After dominating the market for decades‚ American automakers had grown complacent about product development. At the same time‚ rising gas prices and uncertainty about the economy
Premium Automotive industry Ford Motor Company General Motors
MgtOp 340 Exam 2 EOQ Suppose that JJ Inc. has a production rate of 250‚000 units per year and a demand of 800 per day. JJ has a setup cost of $40‚ and a holding cost percentage of 25%. JJ sells their product for $50 and it costs them $30 to produce it. If JJ works for 250 days per year‚ what is the optimal batch size? p=(250‚000/250days)=1‚000 P=250‚000(production rate) d=800 D=(800*250days)=200‚000 S=$40 I=.25 c=$30 H=(.25*30)=7.5 Optimal batch size => sqrt([2DS/H(1-d/p)]
Premium Economic order quantity Inventory
something remarkable‚ she started a big company that’s called 23andme. 23andme is a company that’s relatively new so not many people know about it. 23andme was founded april of 2006. the company was founded by no other than anne. it was her bright mind that had the idea for granting people knowledge of themselves. ’’ Anne Wojcicki thinks we should know more about ourselves’’(woicki) anne said herself “data solves problems”( wojcicki ).
Premium Management Leadership Skill
The Mark X Company (A) Case 1 We must analyze past data and provide expected data for the next two years to assess Mark X Company’s financial position. Upon reviewing the data‚ we will make recommendations for both Mark X Company as well as Karen Dennison of Wells Fargo Bank. Senior management needs compelling evidence that shows the current difficulties faced by the company are not permanent.. It must also be accessed if Mark X can retire all of its outstanding loans by the end of 1993. A sensitivity
Premium Balance sheet Asset Inventory
Auditing and Assurance Services Thirteenth Edition Global Edition Alvin A. Arens Randal J. Elder Mark S. Beasley [pic] Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul
Premium Auditing Copyright Accounts receivable
| 3M Company | By Peggy Nenninger | Introduction: 3M Company My interest in 3M Company comes from the fact that my brother used to work for them. Also the diversity and globalization of 3M intrigued me. 3M Company was founded in 1902 in Two Harbors‚ Minnesota as the Minnesota Mining & Manufacturing Co. (MSN Money‚ 2009) It is now known simply as “3M”. 3M is a primary manufacturer of products for many of the markets it serves. 3M operates in six operating business segments: industrial
Premium 2009 1916 Manufacturing
Merck & Company Case Report Prepared by: Group 7 Date: 26/09/2014 Group Members: HAN Qi‚ 1155060413 LI Yickho‚ 1155000895 PENG Keshu‚ 1155053635 YANG Dezhong‚ 1155055844 ZHANG Yexin‚ 1155053624 Introduction Merck & Co.‚ a global research-driven pharmaceutical company‚ is generating substantial profit mainly by discovering and manufacturing exclusive drugs. Its popular products have brought in significant amount of sales to the company; however‚ the patents of these drugs are expired in two years
Premium Cash flow Income statement Revenue