Q1: The primary objectives that auditors hope to accomplish by confirming a client’s year-end accounts receivable is to check certain management assertions such as existence‚ rights and obligations‚ and valuation. Confirmations from clients and outside parties related to a transaction. Generally‚ the auditor sends to the client’s customer a confirmation stating the amount owed. The customers are requested to return a statement to the auditor indicating whether they agree with the amount‚ or providing
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Analysis of Credit Card Debt Jeanette Macintyre Argosy University MAT 108 Analysis of Credit Card Debt Credit card debt is a reality for many in today’s world. Suppose that you had a $5‚270.00 balance on a credit card with an annual percentage rate (APR) of 15.53 percent. Consider the following questions and prepare a report based upon your conclusions. 1. Most credit cards require that you pay a minimum monthly payment of two percent of the balance. Based upon a balance of $5‚270.00
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Credit Card Necessary in Our Life A credit card is a card issued by a financial company to the holder in order for an individual to borrow funds often at a point of sale. It is important to note that credit cards charge interest and are basically use for short-term financing. Moreover‚ the interests charged on credits cards are enacted usually one month after purchasing is made and borrowing limits are pre-set. This is with regard to the individual`s card rating. Significantly‚ credit cards contain
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It was during this time that the Federal Government first began promoting things like worker safety on the job. For example‚ the Railway Safety Appliance Act was passed during this time. It required railroads to install safety devices such as steps and handrails on their engines and cars to reduce the number of industrial accidents. President Theodore Roosevelt vastly increased the traditional perception of the role of the federal government. His policies‚ such as “Big Stick Ideology” abroad and
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Communication in Leadership 30 November 2011 Leaders: The Strategies for Taking Charge Leaders‚ by Warren Bennis and Burt Nanus‚ was written after the two went through extensive studies‚ interviews‚ and observations to come to the conclusions found in this book. Knowing the average leader’s troubles with constant demands in everyday life‚ Bennis and Nanus came up with four strategies for leading organizations effectively in these complex times. The authors discuss these four strategies from
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Determining the Accounting for Receivables from Officers and Directors. Facts Philadelphia Communications Inc. (“Philly”) is a public company that completed an initial public offering (IPO) a few months ago. John Sigar is the current CEO and member of the board of directors. He is the only family member involved in the business and owns significant amount of the company’s stock. While‚ we were doing audit testing for accounts receivable we came across number of Notes Receivable from several Mr Sigar’s
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Cash versus Credit Cards Americans should handle their credit cards responsibly and should not become a part of that number of abusers. The Scott III (1999) website “The average Americans household has eight credit cards‚ which are used to charge almost $2 trillion in goods and services annually.” No one wants to be a part of the group of individuals who he or she can put his or herself at risk for acquiring a negative credit score‚ possible job rejections‚ rejections when trying to rent or lease
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Analysis of Poems by Tennyson and Wilfred Owen ’The Charge of the Light Brigade’ by Tennyson provides a description of a large group of soldiers that were en route to an unknown fate. The first paragraph of this poem is worth a detailed examination‚ as it is intended to describe the opening scene in the poem‚ leading to a series of events as the poem unfolds. The opening words describe the ’heroes’ of the poem‚ as they seem so far away from their desired objective‚ which is towards the battle that
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Trust The Three Certainties An express trust will not take effect unless the three certainties are present .These certainties are (1)Certainty of words (2)Certainty of objects (3)Certainty of subject matter .It is therefore important to prove all three elements in the given scenario to prove that a trust exists .If any of these certainties are not present the trust fails and the donee of the property which is sufficiently defined ‚takes the property as an absolute gift .If the words are imperative
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