Case 4: Distortions Caused By Inappropriate Allocation Base Chocolate Bars‚ Inc. Case Background. Chocolate Bars‚ inc. (CBI) manufactures chocolate candy bars with three variants – Almond Dream‚ Krispy Krackle‚ and Creamy Crunch. There are 2 distinct production processes for each product of CBI. Process 1 is labor intensive using a high proportion of direct materials and labor. Process 2 uses special packing equipment that wraps individual candy bars and packs it into a box of 24 bars. After which
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September 11‚ 2001 was a defining moment in American history‚ as well as a defining moment in the history of the fire service‚ when 343 fire fighters were lost in the 2 largest building collapses in recorded history (Brannigan & Corbett‚ 2015). The mechanism of the collapse of these structures has become a source of debate. NIST analyzed the collapse and arrived at a conclusion as to the contributing factors of the collapse of the buildings. Some of the factors include dislodged fire proofing‚ weakened
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INTRODUCTION This report consists of 5 reflections related to auditing standards and each case was extracted from internet sources. The purpose of this report is to reflect and understand each case. REFLECTIONS First reflection is on China sky case for its non-compliances with SGX. Next is the case on corporate governance where new rules were proposed to improve risk management and risk control. Third will be the extracted information of executives’ compensation in
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MEANING OF AUDITING The word ‘Audit’ is originated from the Latin word ’Audire’ which means ’to hear’. In the earlier days‚ whenever there is suspected fraud in a business organization‚ the owner of the business would appoint a person to check the accounts and hear the explanations given by the person responsible for keeping the account and funds. In those days‚ the audit is done to find out whether the payments and receipt are properly accounted or not. The objective of modern day accounting
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governmental auditing requirements (required under the FERC Order 693)‚ tools for project management‚ team and auditee management‚ workpaper documentation‚ interview techniques and other tools needed to conduct an effective and efficient audit and one that will stand up to the rigor of potential regulatory requirements and challenges. Regional Entity Management Group 2 Please Remember… • This is not technical training. There are “hard” and “soft” skills to auditing • This course
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ASSIGN 4 INTRODUCTION 5 ANSWER: TOPIC 1- NATURE‚ PURPOSE AND SCOPE OF AUDIT 6 ANSWER: TOPIC 2 - DISTINCTION BETWEEN ACCOUNTING AND AUDITING 7 ANSWER: TOPIC 3 - TYPES OF AUDITS AND AUDITORS 8 ANSWER: TOPIC 4 - MEANING OF TRUE AND FAIR VIEW 9 ANSWER: TOPIC 5 - DESCRIBE THE PROFESSIONAL ETHICS THAT ARE RELEVANT TO AUDITORS 10 CONCLUSION 11 APPENDIX 12 REFERENCES INTRODUCTION After done this assignment‚ we can understand deeper on the job of auditing. First
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Tina: 2.1) Counseling and support for learning problems 2.2) Child trauma and the effects of trauma on Tina’s life 2.3) Parental involvement and parental counseling 2.4) Individual intervention learning program for Tina 4 4 5 6 Section 1: Background 1.1) I would like to report a case of sexual abuse against one of my students. One of my students‚ Tina‚ has approached me about a concerning matter‚ in which her stepbrother‚ has being sexually abusing her. Not only do I believe that Tina is sexually
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Running Head: Case Study #4 Case Study #4 Initial Thread Jean S. Hamby BUSI 561 Liberty University Introduction Betty Wilson has decided to open a coffee shop and is considering various options including franchising‚ sole proprietorship‚ joint venture‚ corporation and partnership. In addition to determining the best legal entity to form‚ Betty has to decide if she will employ or partner with various friends and family members. Finally‚ she plans to name the coffee shop The Gathering
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Case 12-4 Part I and II only HemoTech Inc. This case gives students an opportunity to determine the appropriate accounting for multiple-element revenue transactions under US GAAP and to explore the sources of IFRS s guidance for multiple element revenue transactions‚ specifically related to the identification of deliverables and the determination of selling price. Part I Applicable Professional Pronouncements ASC 450‚ Contingencies (ASC 450) ASC 605 -10 -S99‚ Revenue Recognition:
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1Chapter 26 Internal and Governmental Financial Auditing and Operational Auditing Review Questions 26-1 Internal auditors who perform financial auditing are responsible for evaluating whether their company’s internal controls are designed and operating effectively and whether the financial statements are fairly presented. This responsibility is essentially the same as the responsibility of external auditors who perform financial audits. The two types of auditors are also similar in that
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