Brookson v. Carter, Defendant’s Worksheet DEFENDANT’S WORKSHEET FOR TRIAL Fred Brookson, a lifelong resident of Klamath Falls, Oregon, has hired your firm to file suit against Wendell Carter for injuries sustained as a result of an incident that occurred in southern Oregon. About three months ago, Brookson and his wife, Ellen, from whom he is […]
Lit Studies Characterization Narrative/Short Story Your assignment will be to create a 600-850 word narrative/short story that focuses on using the elements of characterization. Although other characteristics of the short story will not be required, they will help with the development of your own original characters. You will need to use at least 2 characters […]
TEAM WORK AND LEADERSHIP STYLES Few leadership roles are as important in empowered organizations as team building. Effective teamwork is the foundation of productivity. In this chapter we will explore several important topics concerning team leadership. For the purposes ofclarification, when we refer to “team” in team leadership, we mean your day-to-day work team and/or […]
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 […]
Case Application 2: A Simple Strategy at Costco Read “Case Application 2: A Simple Strategy at Costco” on pages 301-302 of your text and answer the following: How is Costco’s business model different from other retailers such as Walmart and Sam’s Club? Why do you think Costco’s strategy works? Beyond lower turnover, how else does […]
The following misstatements are included in the inventory and related records of Westbox Manufacturing Company: 1. When raw material acquisitions were recorded, the improper unit price was included in the perpetual inventory master file. Therefore, the inventory valuation was misstated because the physical inventory was priced by referring to the perpetual records. 2. In taking […]
The following are miscellaneous questions about compilation and review services. Choose the best response. a. Which of the following best describes the responsibility of the CPA in performing compilation services for a company? (1) The CPA has to satisfy only himself or herself that the financial statements were prepared in conformity with accounting standards. (2) […]
The following are various potential misstatements due to errors or fraud (1 through 7), and a list of auditing procedures (a. through h.) the auditor would consider performing to gather evidence to determine whether the error or fraud is present. Possible Misstatements Due to Errors or Fraud 1. The auditor suspects that a lapping scheme […]
The following questions deal with discovering fraud in auditing year-end cash. Choose the best response. a. Which of the following cash transfers results in a misstatement of cash at December 31, 2019? BANK TRANSFER SCHEDULE Disbursements Receipt Transfer Recorded in Books Paid by Bank Recorded in Books Received by Bank (1) 12/31/19 1/4/20 12/31/19 12/31/19 […]
1. Explain the relationships among the initial assessed control risk, tests of controls and substantive tests of transactions for cash disbursements, and the tests of details of cash balances. Give one example in which the conclusions reached about internal controls in cash disbursements will affect the tests of cash balances. 2. Why is the monthly […]
