I’m working on a management presentation and need a reference to help me learn. The chosen organization is Ford Motor Company. In this assignment, you will address one Course Outcome by making and proposing management and leadership decisions with a focus on the future of your chosen organization. Be sure to follow the instructions in […]
The Case of the Director Who Wore Too Many Hats Christina is one of 5 directors of Rico Investments Corporation. She is also a majority shareholder holding both common and preferred stock. Her stock with voting rights amounts to 47% of all stock issued with voting rights. Christina buys, for $1,500, an option to purchase […]
Mergers and Acquisitions Continuing with our hypothetical corporate business immigration scenario, you will consider additional information about your foreign national employee, Prisha Patel: Facebook has proposed to purchase the Marketing Division of Indo Ads after the division received national recognition for its work. Indo Ads expressed interest in the deal, as the company was planning […]
Carl Monson, the owner of Major Products Manufacturing Company, a small, successful, long-time audit client of your firm, has requested you to work with his company in preparing three-year forecasted information for the year ending December 31, 2020, and two subsequent years. Monson informs you that he intends to use the forecasts, Required Research Required […]
The following questions concern information accompanying basic financial statements. Choose the best response. a. The Form 10-K filed by management of a public company includes a section on management’s discussion and analysis (MD&A) in addition to the annual financial statements. Which of the following best describes the auditor’s responsibility for the MD&A information? (1) The […]
The following are misstatements that might be found in the client’s year-end cash balance : 1. A check was omitted from the outstanding check list on the June 30 bank reconcilia- tion. It cleared the bank July 7. 2. Cash receipts collected on accounts receivable from July 1 to July 5 were included as June […]
The following multiple choice questions concern interest-bearing liabilities. Choose the best response. a. Which of the following controls will most likely justify a reduced assessed level of control risk for the completeness assertion for notes payable? (1) The accounting staff reviews board of director minutes for any indication of any transactions involving outstanding debt to […]
Nilsson, CPA, is conducting the audit of Ellison Waste Management Corporation. In addition, a supplemental negative assurance report is required for a major mortgage holder. The supplemental report concerns indenture agreements to keep the client from defaulting on the mortgage. Total assets are $14 million, and the mortgage is for $4 million. The major provisions […]
Elizabeth Johnson, CPA, has completed the audit of notes payable and other liabilities for Valley River Electrical Services and now plans to audit contingent liabilities and commitments. a. Distinguish between contingent liabilities and commitments and explain why both are important in an audit. b. Identify three useful audit procedures for uncovering contingent liabilities that Johnson […]
The following are misstatements that might be found in the client’s year-end cash balance (assume that the balance sheet date is June 30): 1. A check was omitted from the outstanding check list on the June 30 bank reconcilia- tion. It cleared the bank July 7. 2. Cash receipts collected on accounts receivable from July […]
