Business Law 201: Legal Issue Paper Mortgage Forgiveness Debt Relief Act of 2007 Extension Meghan M. Keough Meghan M. Keough Business Law 201 Legal Issue Paper, 11/25/2012 Outline: Mortgage Debt Relief Act I. Explain the legal issue II. Explain the factual situation behind the legal issue A. The purpose of the Act B. Applications of the Act C. Legal challenges of the Act III.
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The financial statement audit is the one I will be concentrating on by examining the financials to be sure Apollo Shoes in compliance with the required US accounting standards. I will match the evidence with various accounts, analyzing vendor and customer accounts, payroll and employee benefits, and bank accounts. I will want to analyze the cash flow statements with the supporting evidence, along with the balance sheet, and income statement or profit and loss
The audit for the financial statements will include evidence supporting amounts and disclosures in statements, examining, accounting principles used assessment, estimates made by management, evaluating all of the financial statements overall. The internal control over financial reporting audit will be acquiring an understanding of internal control over financial reporting, evaluating and testing the design and operation of the effectiveness of internal control and conducting procedures as necessary. The internal control over financial reporting within a company is meant to provide a reasonable assurance as to the reliability of financial reporting and for the preparation of the financial statements for external purposes in accordance to the generally accepted accounting principles
Western Governors University JET2 Financial Analysis Task 1-Financial Statement Analysis and Controls A. 1a. Evaluate the company’s operational strengths and weaknesses based on the review of the horizontal analysis, analyze results and discuss operational areas of concern: This financial analysis will serve as a review of financial statements of Competition Bikes, Incorporated. The financial analysis will help Competition Bikes determine areas of strengths and weaknesses and give recommendation and uncover areas needing improvement thus improving financial viability. Horizontal analysis is a financial statement analysis technique that demonstrates changes in the amount of corresponding financial statement items over period of time.
Which of the following choices regarding the proprietary fund financial statements is true? A. The Statement of Net Assets (Balance Sheet) reflects equity as contributed equity and retained earnings. B. Normally, a reconciliation is required between the proprietary fund financial statements and the business-type activities column in the government-wide financial statements.
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Protection risk is another, Making sure they have policies that deal directly which the risk of banking. 4. Name at least two risks banks face. (1.0 points) A bank or a bank panic and bad investments are two risks a bank faces. Lesson 2 (3.0 points) 1.