Interim An audit which conducted in between the two annual audits with a view to find out interim profits to enable the company to declare an interim dividend is known as Interim Audit. It is a kind of audit which is conducted between the two periodical or balance sheet audits. Objectives Of Interim Audit 1. To know profit or loss of interim period. 2. To distribute interim dividend. 3. To get loan on the basis of interim account. 4. To get information about the financial position
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Memo To: Ms. Ramos From: DOraimi Subject: 2012 Income Correction Date: 01/20/2014 You believe that the $1 million overstatement of the 2011 ending inventory has no impact on 2012’s reported income‚ because 2012 ending inventory is correct. In this memo‚ I will explain how the overstatement in 2011 ending inventory affects 2012’s reported income. Based on the formula “Cost of good sold= Beginning inventory + Inventory purchased – Ending inventory”‚ the cost of good sold during
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Q1 - What is the relationship between the risk assessment process and the collection of audit evidence? The risk assessment process happens at the very beginning of the engagement and is to determine the level of risk present in the company. The risk assessment phase is when the auditor assess the client’s situation‚ conducts an independence threat analysis and decides whether to accept the client or not. The risk assessment is influenced by various factors such as the degree to which external
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The Demand for Audit and Other Assurance Services O ssu a S s Chapter 1 ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-1 SarbanesSarbanes-Oxley Act Enron WorldCom The Act established the Public Company Accounting Oversight Board. It also requires auditors to report on the effectiveness of internal control over financial reporting. ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-2
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Veteran’s Marketing Memo Military veterans stood up for our country and are not recognized enough for their dedication. There are many programs dedicated to providing assistance to veterans but not many ways to reward them for their devoted service to their country. Many veterans have been affected due to combat and some need help transitioning from military life to a civilian. As the director of for a military veterans foundation I must raise money to create a fallen heroes monument. The first
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MEMO Date: February 17‚ 2014 To: Information and Communications Technology Center (ICTC) From: Janselle Myles Laragan‚ Nino Abenojar‚ Nicole Fenol‚ Rolex Dimapilis‚ Benjamin Seo Subject: IKOT La Salle Tracker Introduction and Recommendation In the past 6 years of implementing a jeepney transportation or also known as Ikot La Salle is very helpful in the University. Walking inside the campus in 27 hectares is not appropriate; students‚ faculty‚ and also visitors can ride in Ikot La Salle
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theft. D. Expected effectiveness of controls. 13. The risk that an auditor’s procedures will lead to the conclusion that a material misstatement does not exist in an account balance when‚ in fact‚ such misstatement does exist is referred to as A. Audit risk B. Inherent risk C. Control risk D. Detection risk 14. Evidential matter concerning proper segregation of duties ordinarily is best obtained by A. Preparation of a flowchart of duties performed by available personnel. B. Inquiring whether
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University Hospital Memo To: Pat Rowe‚ Vice President From: Yilin Zhang CC: Jon M. Werner Date: 5-Nov-13 Re: Technology Training Recommendations With the development of medical science and medical technology‚ high-tech medical devices‚ which come out constantly‚ help caregivers stay informed about new equipment and principles of work performance‚ safe use of new equipment‚ and other issues that are increasingly prominent. Meanwhile‚ the poor attitude of staff during training is also a big
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Analysis of Cisco _____________________________________________________________________ As you concerned‚ our company need to start report comprehensive income. I made several searches for that. In this memo‚ I will illustrate comprehensive income‚ FASB codification‚ and comprehensive income‚ locate and extract relevant information and authoritatively support for the financial report. Comprehensive Income & Net Income Net income shows a company’s total
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things can really give the customer an intense insight as to what our company is really capable of accomplishing. We look forward to seeing those pounds drop and smiles arise as your bodies begin to please you more and more each day. Project #2 Memo
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