Question 1 - Risks surrounding the identified accounts The Audit of TNO Ltd has highlighted number of risks. The risks highlighted in the audit are discussed throughout the report. Below is a table of the risks and tests to carry out‚ based on the five accounts highlighted as being of risk. The common assertion that is common to the five accounts is valuation and allocation. Account Assessment of Risk Substantive audit procedure Accounts Receivable Account Receivable has increased while sales
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Case: Andrew-Carter‚ Inc. Andrew-Carter‚ Inc. (A-C) is a major Canadian producer and distributor of outdoor lighting fixtures. Its fixture is distributed throughout North America and has been in high demand for several years. The company operates three plants that manufacture the fixture and distribute it to five distribution centre (warehouse). During the present recession‚ A-C has seen a major drop in demand for its fixture as the housing market has declined. Based on the forecast of interest
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EXECUTIVE SUMMARY In the case of Chemalite‚ Inc. we analyzed the financial data provided by one of the largest stockholders of the company‚ Bennett Alexander‚ and the company’s bookkeeper. According to given expenditures‚ transactions‚ cash outflows and other related financial information; we prepared transaction journals‚ T-accounts‚ income statements‚ statements of financial position and statements of cash flows for the six months ended June 30‚ 2003 and for the year ended December 31‚ 2003. We
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1. Why will you want to monitor his fluid status very carefully? C.W has a past medical history of congestive heart failure (CHF). According to an article on Johns Hopkins Medical website‚ a congestive heart failure is when the heart does not pump well to meet the oxygen needs of the body. It is mostly caused by cardiomyopathy or other forms of heart diseases. The heart muscles becomes weak with patients with CHF. When this happens‚ blood returns to the heart and gets congested due to inability
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Name: Arvin Mike L. Avenido Course & Year: BSIT-4 Instructor: Ms. Ivy Nalam WTh/5:00-6:00/Comp Lab 1 Subject: Software Engineering SUMMARY OF SWEBOK GUIDE (CHAPTERS 11&12) Like most of the things‚ quality attracts the person it signifies the performance and appearance of the product. It matters a lot of the standards in a business for the outcome of the products. Just like this‚ Software has also good quality requirements and better ways to ensure its outcome. The following are the
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ethics. A study about the perception of ethics among Muslims and Christian would reveal any differences regarding how the business practices of MEGA Inc. and evaluated. From the findings‚ both the customers share similar ideology regarding ethics in business practices. This shows that regardless of the location of operations‚ the business practices of MEGA Inc. appeared unethical because there was no respect for all employees‚ and there was lack of promotion of the the wellbeing of all
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SOFTWARE ENGINEERING PROJECT ON DISPATCH MONITORING SYSTEM OF IOCL INTAKE CODE-: BF0391 GROUP NO.- 8 GROUP MEMBERS WITH DESIGNATION ACKNOWLEDGEMENT TABLE OF CONTENTS PAGE No. PART 1-: INTRODUCTION
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Week 3 IRAC method Aug 18‚ 2014 Week 3 IRAC method Mattel‚ Inc. v. MGA Entertainment‚ Inc. Case No. 11-56357 (9th Cir. Jan. 24‚ 2013) United States Court of Appeals for the Ninth Circuit Facts This was a litigation case between Mattel‚ Inc.‚ the maker of Barbie dolls‚ and MGA Entertainment‚ Inc.‚ the maker of Bratz dolls‚ Mattel stated claims for copyright infringement and misappropriation of trade secrets‚ and MGA stated its own counterclaim misappropriation of trade secrets. The idea
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Accounting for the iPhone at Apple‚ Inc. (HBS 9-111-003) 1. Exhibit 3 provides the journal entries under subscription accounting. Refer to the example in Exhibit 3. a) Complete the following FSET assuming the Apple follows subscription accounting to account for iPhone’s sales revenue (separately for the transaction in Quarter 1 and in Quarters 2 to 8). Balance Sheet Income Statement Transaction Cash Asset + Noncash Assets - = Liabilities + Contrib. Capital + Earned Capital Revenues
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1. Retrieve the SEC’s complaint against ClearOne Communications (link provided on Blackboard with the case). Describe management’s alleged scheme for inflating revenue. Management’s alleged scheme for inflating revenue is that in 2001‚ when the company was not able to meet their sales and revenue goals‚ they would record sales on the books as soon as products left the warehouse. So if ClearOne shipped a lot of products during the last week of the quarter (or swept the floor as they call it)‚ they
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