Chapter 2 Auditing IT Governance Controls Review Questions 1. What is IT governance? Response: IT governance is a relatively new subset of corporate governance that focuses on the management and assessment of strategic IT resources. 2. What are the objectives of IT governance? Response: The key objectives of IT governance are to reduce risk and ensure that investments in IT resources add value to the corporation. 3. What is distributed data processing? Response: Distributed
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Chapter 2 1. A conceptual framework is a coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribes the nature‚ function‚ and limits of financial accounting and financial statements. A conceptual framework is necessary in financial accounting for the following reasons: (1) It enables the FASB to issue more useful and consistent standards in the future. (2) New issues will be more quickly solvable by reference to an existing framework
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Exercise 2-1 (10 minutes) 1. The wages of employees who build the sailboats: direct labor cost. 2. The cost of advertising in the local newspapers: marketing and selling cost. 3. The cost of an aluminum mast installed in a sailboat: direct materials cost. 4. The wages of the assembly shop’s supervisor: manufacturing overhead cost. 5. Rent on the boathouse: a combination of manufacturing overhead‚ administrative‚ and marketing and selling cost. The rent would most likely be prorated
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Kieso‚ Weygandt‚ Warfield‚ Young‚ Wiecek‚ McConomy Intermediate Accounting‚ Tenth Canadian Edition CHAPTER 2 CONCEPTUAL FRAMEWORK UNDERLYING FINANCIAL REPORTING ASSIGNMENT CLASSIFICATION TABLE Topic Brief Exercise Usefulness of the Conceptual Framework (CF) and main components of CF Exercise Problem 5‚ 7 Writing assignments 1 Qualitative Characteristics 1‚2‚3‚9 1‚5‚6‚7 2‚3‚4‚5‚7‚8 3‚5 Elements 4‚5‚6‚7 2‚7 2‚3‚5‚8 3 Foundational
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CHAPTER 2 AN INTRODUCTION TO COST TERMS AND PURPOSES 2-20 (15–20 min.) Classification of costs‚ manufacturing sector. Cost object: Type of car assembled (Corolla or Geo Prism) Cost variability: With respect to changes in the number of cars assembled There may be some debate over classifications of individual items‚ especially with regard to cost variability. |Cost Item |D or I |V or F | |A
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CHAPTER 2 The Financial Statements BRIEF EXERCISES BE2–1 2008 2008 2008 Beginning Ending Retained 2008 2008 2008 Retained Earnings + Revenues – Expenses – Dividends = Earnings $28.2 + $43.3 – $38.2 – X = $30.6 X = $2.7 2008 Dividends as a percentage of 2008 net income: 2008 Dividends = $ 2.7 = 52.9% 2008 Net income ($43.3-$38.2) $ 5.1 BE2–2 1) Current Liabilities financed $32 billion of the
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Intermediate Accounting E2-1 a. True b. False – General-purpose financial reports also assists other people who don’t have the authority to demand financial information they need and so must rely on the information in financial reports. c. False – standards that are based on individual conceptual framework will result in different conclusions being drawn on similar issues‚ and thus would not be consistent and comparable. d. False – General purpose financial reports are also beneficial
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JyqtEu r- Y _’_fr_= 0‚2F - (-0‚15) = 0.40 e 4 o = Lvt 2r’ (125 fUsec) = (0.s) (2.977 x to-3; slug/ft3 / = 18.6 lb/ft- /^ -Wv‚ UU L. I nrn 2750 lbs (18.6 lb/ft4) (180 ft2) C‚ - 0.82 =+ 6e = -10.5o trim arim 2.‚) P2"3. The canard and wing are Analyze the canard-vring combination shown in Figure glo;"tti."lly siniiiar anl are made from the same airfoil section" AR* - ARw‚ $c = S*‚6. = 0’45 1l*
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Basic Business Statistics 12th Edition Chapter 5 Discrete Probability Distributions Copyright ©2012 Pearson Education‚ Inc. publishing as Prentice Hall Chap 5-1 Learning Objectives In this chapter‚ you learn: The properties of a probability distribution To compute the expected value and variance of a probability distribution To calculate the covariance and understand its use in finance To compute probabilities from binomial‚ hypergeometric‚ and Poisson distributions How to use
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CHAPTER 3 The Accounting Information System ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions 1. Transaction identification. 1‚ 2‚ 3‚ 5‚ 6‚ 7‚ 8 2. Nominal accounts. 4‚ 7 3. Trial balance. 6‚ 10 4. Adjusting entries. 8‚ 11‚ 13‚ 14 5. Financial statements. 6. Closing. 12 7. Inventory and cost of goods sold. 9 8. Comprehensive accounting cycle. *9. Brief Exercises Exercises Problems 1‚ 2 1‚ 2‚ 3‚ 4‚ 17 1 2‚ 3‚ 4 1‚ 2‚ 7‚ 8 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 20 1‚ 2‚ 3‚ 4
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