When you use this revision guide‚ please remember these following rules: 1. This is just a guideline. It only intends to improve your revision process. It certainly does not intend to cover everything in the exam. It is very possible that some questions‚ which are not covered in this revision guide‚ may appear in the exam. 2. You should refer primarily to other material‚ such as textbook‚ lecture notes and class exercises. 3. When you use this guideline‚ try to understand the fundamental
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is to account for resources and to match costs to their related sales as closely as possible. Management Accounting is more concerned with the details of inventory management but for Financial Accounting‚ when inventory is purchased or sold‚ the objective is to satisfy the Matching Principle and to accurately represent the financial position of the entity. The Matching Principle requires that revenues and their related costs be matched up and posted into the same accounting period. When Inventory
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456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks‚ Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments
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Choosing Between an Objective and Projective Test for Children The Dood Caoek Joms University It has been observed that there has been a growing acceptance and understanding to the necessity and value of personality testing. It is at this stage in time where there is increasing demand and consumption for such services‚ met by a diverse range of offerings‚ it is important to know the ideal service to meet one’s needs. Keeping this in mind‚ this essay will attempt to compare and contrast between
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Geo assessment Mt Etna An eruption begins when pressure on a magma chamber forces magma up through the conduit and out the volcano’s vents. When the magma chamber has been completely filled‚ the pressure in the pipe will build up very high resulting in an explosion. When magma reaches earth’s surface it is called lava. It may pour out in gentle streams called lava flows or erupt violently into the air. Rocks ripped loose from the inside of the volcano or torn apart by the gas may be shot into the
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McElroy College Prep English I 1/23/14 Mt. Everest Mt. Everest is the tallest mountain in the world at 29‚029 feet which would be the height of 20 Empire State buildings and 5 ½ miles above sea level. Mt. Everest straddles the border of Nepal and Tibet. Mt. Everest is part of the Himalaya mountains. It is named after Sir George Everest that never even saw the peak. The Tibetans and Sherpas call it “Chomolungma” meaning “Mother Goddess of the Earth”. Mt. Everest is over 60 million years old
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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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Identify the mission‚ objectives and responsibilities of an organisation within its environment The mission‚ values and key objectives of an organisation and assess the influence of stakeholders Mission‚ values and key objectives are of high significance to any organisation. An organisation will state a mission that will describe the function or role it aims to provide in the form of products or services. Although the focus is long term it puts perspective on the short term so that the long-term
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Prestiage of Everest. By: Alyssa Turner Have you ever thought about climbing Mt. Everest? Well‚ Sir Edman Hillary and Tenzing Norgay were the first people who did. The simarities and differances of "View from the Summit" by Sir Edman Hillary and the "The Dream comes True" by Tenzing Norgay are similiar about the events to the top of Mt. Everest‚ but they’re also different in their backgrounds and emotions. They are similiar because they both made it to the top of Everest at 11:30
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