Substantive Procedures - Class of Transactions SALES AND SALES RETURN Occurrence Compare Sales of this year with Sales of last year as well as Analytical Procedures (for with budgeted and Industry average. Investigate unusual Overstatement) difference. Completeness (for Compare G.P. Ratio of this year with last year as well as budgeted and Industry average. Investigate unusual difference. Understatement) Review a reconciliation of Inventory (opening
Premium Balance sheet Expense Depreciation
l pabiodiesel financial plan Start-up Expenses | | Land to buy | | Office to buy | | Renovation expenses | | Design works | $10 000 | Assembly operations | $200 000 | Placing into operation | $53 000 | Oil processing equipment (incl. storage and loading) | $100 000 | Seed storage equipment (incl. installation) | $350 000 | Glycerol purification equipment (including installation) | $0 000 | Tanks | $100 000 | Biodiesel production equipment (incl. delivery and
Premium Asset Inventory Revenue
Master Budget Case: ToyWorks Ltd. (B) ToyWorks Ltd. is a company that manufactures and sells a single product‚ which they call a Toodle. For planning and control purposes they utilize a monthly master budget‚ which is usually developed at least six months in advance of the budget year. Their fiscal year end is June 30. During the summer of 2007‚ Chris Leigh‚ the ToyWorks controller‚ spent considerable time with Pat Frazer‚ the Manager of Marketing‚ putting together a sales forecast for
Premium 2008 Balance sheet 2009
Chapter 2. Basic Features and Policies Basic Features and Policies. The NGAS has the following basic features and policies‚ to wit: a. Accrual Accounting. A modified accrual basis of accounting shall be used. Under this method‚ all expenses shall be recognized when incurred and reported in the financial statements in the period to which they
Premium Accounts receivable Generally Accepted Accounting Principles Expense
take me an extra two days in driving‚ so that would cut out two days of my time at the beach. Therefore I would want to choose the beach if I had a longer time to vacation. Therefore when looking into a vacation I look at distance‚ activities‚ and expenses. Secondly‚ when I travel to the beach‚ I like to visit amusement parks. So if I want to visit an amusement park like Busch Gardens while at Virginia Beach the prices are 66 dollars and 99 cents per person.
Premium Amusement park Fishing Ocean
CHAPTER I SUMMARY OF THE PROJECT A. Name of the applicant/proponent Raymund Uy Kaw Sing B. Business name/Project Name Griller’s Oyster House C. Location of the Project Plaza Libertad‚ Zamora Street‚ Iloilo City D. Brief Description of the Project The proposed expansion of Griller’s Oysters House‚ a talabahan and restobar‚ in Plaza Libertad. E. Highlights of Major Assumptions and Summary of Findings and Conclusions Regarding the following: Market Feasibility Restaurants and
Premium Tax Expense Cash flow
Basic Industry Railroads CSX Corp. Conrail Inc. Rating: HOLD (Moderate Risk) Company Update Brian R. Routledge‚ CFA (212) 778-1501 CSX (46 1/2)—NYSE CRR (85 3/4)—NYSE CSX announces merger proposal with Conrail. Longer-term benefits balanced against near-term uncertainties. Lowered CSX rating to Hold given earnings dilution over the near-term. October 18‚ 1996 Earnings Per Share Fiscal Year Ending Shares P/E O/S Ind. 52Week 12/95 CSX 12/96E
Premium Income statement Balance sheet Revenue
risk when solely depends on accrual manipulation. d. Real activities management focuses on reducing reported expenses by having the opportunistic reduction of research and development expenditures. (Real earnings management happens more in manufacturing industry. d. Investigation: Because normally use discretionary expenses reduction to avoid losses; thus‚ use discretionary expenses and productions costs for every firm- year to investigate. (Sales manipulation‚ reduction of discretionary expenditures
Premium Generally Accepted Accounting Principles Cost Expense
T1 & 2 (Q) (1) Which one of the following is an example of an internal stakeholder? A A shareholder B Investment analyst / consultant C A manager D A supplier (2) What is the primary responsibility of the external auditor? A To verify all the financial transactions and supporting documentation of the client B To ensure that the client’s financial statements are reasonably accurate and free from bias C To report all financial irregularities to the shareholders of the client D To ensure that
Premium Balance sheet Generally Accepted Accounting Principles Expense
22 Accounting Changes and Error Analysis 22-1 Accounting Changes and Error Analysis Accounting Changes Error Analysis Changes in accounting policy Changes in accounting estimate Balance sheet errors Income statement errors Balance sheet and income statement effects Change in reporting entity Correction of errors Summary Motivations for change of method 22-2 Comprehensive example Preparation of statements with error corrections Changes in Accounting Principle
Premium Depreciation Generally Accepted Accounting Principles Balance sheet