Chapter 10 Auditing the Revenue Process SEC SAB101: Revenue recognition 1. 有persuasive evidence 有证据 2. Delivery occurred‚ service rendered，东西给了服务于需求 3. Price is fixed/determinable 价格固定 4. 有collectability钱收的回来 Fraud Risk in Revenue cycle: 欺诈风险 1. Side agreement: off-book‚ adjust record to entice customer 2. Channel stuffing: 填塞分销渠道，造成销售假象 inflate sales by forcing product through a distribution channel 3. Related party transaction: 实质重于形式原则substance over form是指企业应当按照交易或事项的经济实质进行会计核算，而不应当仅仅按照它们的法律形式作为会计核算的依据
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has 99.8% of the mass in the entire solar system * Its mass is roughly 2 X 1027 tons * about 333‚000 times as massive as Earth. * MERCURY= barren‚ airless world * Mercury has a heavily cratered surface. * No moon * 30% larger diameter than the Moon * Orbits every 88 days * Most eccentric orbit * Rotates once per 59 days * One day last 176 earth days or 2 mercury years * Lack of an atmosphere and long days means
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Geography Exam Review Grade 9 1) Unit 1- Introduction to Geography a) What is Geography? * Geography is the study of the Earth’s physical and human systems/features and the relationships among them. * Physical Features: rivers‚ mountains‚ etc. * Human Features: buildings‚ cities‚ etc. b) The Five Themes of Geography * Location (Absolute and Relative) * Absolute and relative locations are 2 ways of describing the positions of the Earth’s physical and cultural features
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ENG-3U Exam Review Literary Devices Simile: a general comparison‚ using like or as‚ of two things thought to be different from each other in nature. Example: “Jason could run like a racehorse”. Metaphor: an implied comparison of two things generally thought to be different from each other‚ generally expressed in a statement. Example: “And Juliet is the sun”‚ (Shakespeare). Personification: a type of metaphor that gives an inanimate object human attributes. Example: “The tree heaved with
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REVIEW FOR EXAM 1 Chapter 1 1. How do we measure standard of living Measuring the standard of living in a country is to use real national income per capita. This is found that dividing real national income (GDP or GNP) by the total population. 2. How can European Unemployment be reduced? Central bank should decrease interest rates‚ and allow for an increase in demand‚ and unemployment would decrease. They need to be less protective‚ to eliminate these labor market rigidities‚ and to
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The net present value (NPV) rule can be best stated as: An investment should be accepted if the NPV is positive and rejected if it is negative. The discount rate that makes the net present value of investment exactly equal to zero is b. Internal rate of return. Which of the following statements is true? If the financial manager relies on NPV in making capital budgeting decisions‚ she acts in the shareholders’ best interests. Net present value is equal to zero when the interest rate used to discount
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Notes on Board Oct. 2‚ 2013 Exam one was returned for student’s review. Listening assignment for this week was distributed and uploaded to mix. Ensemble- usually a small group of performers Polyphonic- The simultaneous sounding of two or more melodies of equal importance. Group Work: Sidney Bechet First notable jazz saxophone player‚ soprano sax Played clarinet‚ too. Composer Professional by age of 6. Louis Armstrong 1901-1971 [Greatest trumpet player] The most influential jazz
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commitment to sell. Debbies add did not limit the number of possible offerees who could accept and it would be unreasonable for Pete who read the ad to assume that it created the power of acceptance. Was there an second offer by Debbie to Pete. Offer 2. Is there a valid offer? Offer an offer is the manifestation of a willingness to enter into a bargain‚ in must be done in such a way that another person should understand that his assent to that bargain is invited and will conclude in forming a contract
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AC 4342 Auditing Introduction to assurance and financial statement auditing Discussion Question: Messier Q1-13‚ 14 1 References HKICPA Members’ Handbook Amended Preface to the Hong Kong Quality Control‚ Auditing‚ Review‚ Other Assurance‚ and Related Services Pronouncements Hong Kong Framework for Assurance Engagements Reference Messier: Ch 1 2 CILOs and TLAs CILOs 1 Describe the auditing profession‚ the regulatory‚ legal and reporting framework of auditing. Recognize the basic
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Corporation 1) Which of the following was created in an effort to promote free trade? A) World Trade Organization B) the Sarbanes-Oxley Act C) multilateral development banks D) the Organization for Economic Cooperation and Development Answer: A 2) What is the name for the shifting of non-strategic functions to specialist firms to reduce costs? A) outsourcing B) multinational company C) globalization D) transnational corporations Answer: A 3) The World Bank’s main goal is to ensure the
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