Preparing and maintaining accounting records • At the initial stage of the audit‚ carried out a risk assessment to identify the inherent risk‚ detection risk and control risk. Control tests were carried out for the main accounting systems such as sales‚ purchases etc. Depending on the results of the same‚ performed a test of control or substantive test to derive at the conclusion that the different account balances were fairly stated in the financial statements. • Computation of raw material
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overhead costs. Material requisition forms are used to record the direct material that is taken to make the attire. The form records details of the employee that used the material‚ the quantity used‚ and the type of material‚ along with who authorised it. Authorisation is important to ensure that the material is used for that specific job only. This information is then transferred to the specific job cost attire sheet. Time sheets are used to record the direct labour hours used for the specific attire
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Oral Tradition‚ 15/1 (2000): 26-38 Dario Fo and Oral Tradition: Creating a Thematic Context1 Antonio Scuderi A historical analysis‚ especially a critical one‚ of an actor’s techniques is impossible if the actor does not have “poetics.” It is by means of “poetics”—in the themes by which it is developed—that the “techniques” acquire depth and meaning and become a “style.” Totò2 has a poetics that is rich in themes and motifs that weave and dovetail‚ presenting a whole and complex vision
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Business Plan: Starting an Independent Record Label Introduction First of all I am setting down the employees of “Les Incompetents™”. There are three of us: The Label manager (who is responsible for running the label)‚ an A&R (the talent scout who mentors the artist through to final recording) and a business developer (who is responsible for the business deals). Although every one of us has a specific title‚ being a small independent label‚ we all work on every issue. The funding of
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Puckett Company paid $2.64 million for 88‚000 shares of Harrison’s voting common stock‚ which represents a 40 percent investment. No allocation to goodwill or other specific account was made. Significant influence over Harrison is achieved by this acquisition and so Puckett applies the equity method. Harrison distributed a dividend of $2 per share during the year and reported net income of $613‚000. What is the balance in the Investment in Harrison account found in Puckett’s financial records as of
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ACCOUNTING: COMPANY REPORT ON SNAGS LTD Prepared for: Management of Snags Ltd Table of Contents Executive Summary 3 Introduction 4 Ratio Analysis 5 Return on Equity Ratio 6 Return on Assets Ratio 6 Asset Turnover Ratio 7 Inventory Turnover Ratio 7 Account Receivables Turnover Ratio 8 Gross Profit Margin 9 Net Profit Margin 9 Current Ratio 10 Gearing Ratio (Debt to Equity Ratio) 11 Profitability 11 Liquidity 11 Efficiency 12 Capital Structure
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E9-7 Brainiac Company purchased a delivery truck for $30‚000 on January 1‚ 2011.The truck has an expected salvage value of $2‚000‚ and is expected to be driven 100‚000 miles over its estimated useful life of 8 years.Actual miles driven were 15‚000 in 2011 and 12‚000 in 2012. Instructions (a) Compute depreciation expense for 2011 and 2012 using (1) the straight-line method‚ (2) the units-of-activity method‚ and (3) the double-declining balance method. (b) Assume that Brainiac uses the straight-line
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total of profit or loss and other comprehensive income. The profit and losses as well as other comprehensive income generated by an entity will have impact on the assets and/or liabilities of the entity. As the result of the requirements of some accounting standards‚ certain income and expenses will not be included in the statement of comprehensive income‚ but rather are adjusted directly against equity. Manager should choose expenses and incomes that do not belong to a specific equity account.
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Fo-shizzle-ism is our generations tendency to hand out fame to random undeserving‚ talentless people who haven’t earned it. Just because someone does something stupid or acts crazy enough for the world to take notice‚ doesn’t mean they deserve to be famous. A prime example of fo-schizzle-ism is the rapper snoop dog‚ who was the inventor of the term “fo shizzle”‚ earning himself his own part of the American cultural history just by coining a catchy phrase that happened to go viral. As of right now
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long insurance contract a company paid $12‚000 for at the beginning of the year. Since the insurance company owes the company service‚ the expense prepayment is recorded as an asset Journal Entries: debit Prepaid Insurance and credit Cash). 2. Unearned Revenue - A year long subscription of $12‚000 is received in advance by a magazine company. Because the company owes something‚ the unearned revenue is recorded as a liability. 3. Non-cash: These adjusting entries record non-cash items such as depreciation
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