High Quality Auditing Class – Intake 52 | Assignment Report | Abt. Thu Duc Centrifugal Concrete Joint-Stock Company | Group 4: | Duong Thi Phuong ThaoLe Duy AnhNguyen Thi HangNguyen Mai HuongLe Khanh Ly | | 10/4/2012 Contents A. General information 2 I. Establish and Development 2 II. Description of business 3 B. Description of accounting system 4 I. Summary of significant accounting policies 4 II. Description of recording process 6 C. Brief look at financial
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R&D/Sales: 19.8%. The Net Plant & Equipment is low: 8.6% 2. Receivables are unimportant for an online retailer. No R&D since the company sells goods and products from others and it has zero R&D expense. 3. Warehouse Club for food and general merchandise has high Net Plant & Equipment 44.8% and zero Unearned Revenue. The Inventory is high 41.6% comparing with a supermarket grocery retailer. 4. Major passenger airline has some Accounts Payable 13.0%‚ high Unearned Revenue as a result of prepaid ticket
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Affiliation In this case without reclassification of accounts receivable‚ net cash that is utilized in operation is given as; Net Income $60000 Decrease or (Increase) in accounts receivable ($80000) Net amount provided in operation ($20000) If there is reclassification as anticipated‚ the net cash used in operation is; Net Income $60000 Net income provided in operation $60000 Through reclassification of $80000 of accounts receivables to long term‚ the cash inflow from operation will also increase
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Company. Your review reviews the following: checks are promptly endorsed “For Deposits Only”‚ but no list of the checks is prepared by the person opening the mail. The mail is opened either by the cashier or by the employee who maintains the accounts receivable records. Mail receipts are deposited in the bank weekly by the cashier. Instructions: Write a letter to Jerry Mays‚ owner of the Manhattan company explaining the weaknesses in internal control and your recommendations for improving the system
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CHAPTER 13 Financial Statement Analysis OVERVIEW OF EXERCISES‚ PROBLEMS‚ AND CASES Estimated Time in Learning Outcomes Exercises Minutes Level 1. Explain the various limitations and considerations in financial statement analysis. 2. Use comparative financial statements to analyze a company 12* 45 Mod over time (horizontal analysis). 13* 30 Mod 3. Use common-size financial statements to compare various 12* 45 Mod financial statement items (vertical analysis)
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AIM 6330 Topics to know for Exam I Chapter 1 – Environment and Theoretical Structure of Financial Accounting • Know the basic objectives financial reporting and the basic elements of financial statement • Know the fundamental and enhancing qualitative characteristics of accounting information. • Know the assumptions‚ principles and constraints of accounting information and be able to identify when each is being illustrated in specific accounting contexts. Chapter
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all challenges with a professional attitude. Job Description I am being put under the Finance Department‚ guided by a few seniors‚ mainly two Account Executives. There are two categories under the Account Payable (A/P) Department‚ and they are Sundry and Food and Beverages. Account Payable – Sundry The purpose of preparing an Account Payable Reconciliation is to check if there are any differences and if there are‚ the reason were Payment in Transit‚ Invoice in Transit‚ Invoice
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customer‚ leverage their supplier discounts‚ tighten their accounts receivable‚ and drop poorly selling product lines. SNC will be taking on Atlantic Wellness as a customer‚ which will help the company achieve a significant increase in sales. However‚ this move will also create an increase in the company’s accounts receivable account and cause higher inventory balances. In order for SNC to increase its sales it has to obtain new accounts and take on new customers. The next step in Phase One will
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Chapter 18 Working Capital Management 18-1. As was done in Checkpoint 18.1 in the text‚ we can evaluate Deere & Co.’s liquidity using net working capital and the current ratio. Net working capital is simply the difference between current assets and current liabilities‚ while the current ratio can be found as (using 2008 as an example): current assets current ratio = current liabilities $9‚197‚400 = = 0.61. $15‚083‚300 Since Deere’s current ratio is less than 1‚ its current
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industry. “Since the factory was established in 1959‚ DRC has remained at the forefront of the UAE refreshments industry‚ continually expanding through major investment in the latest bottling technology complemented by the highest levels of Quality Management” (Company Overview‚ 2007). The second company chosen from the same sector is Gulfa Mineral Water and Processing Industries Co. PLC. The company was established in the year “1975 and it became the first bottled brand of mineral water in the GCC
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