Materiality is allocated only to those accounts sampled because the 100% verified accounts have no audit risk so materiality is not a factor (Apollo Group, 2004). Is any component of audit risk within the control of the auditor? Explain. Yes, many of the components of audit risk are within the control of the auditor. Although inherent risk and control risk are not directly in the auditors control his assessment of these will help him properly decide where he should focus his audit efforts.
Also, the promissor has to expect that, upon the promise, it will induce action by the promisee. The promissor cannot say it wasn't part of the contract. Why does this doctrine exist? The doctrine exists to protect a person who was promised something and there is no essential elements of a contract that exists. Did the court reach the proper decision in the case you discussed?
Since the Walton Work Wear line is in the production stage, its accumulated development costs should be capitalized. The Carroway Cool Top has not started it commercial production which would allow the development costs not to be amortized yet. Also interest costs on loans to generate financing for the R&D activates of a product can be capitalized rather than expensed. The capitalization of interest would allow CCL to reduce taxable income in the future when it is more profitable. I would recommend that CCL make the above changes immediately so that the financail statements are not incorrect.
Since one of the goals of this project is to obtain the highest value for the R2 or adjusted R2 statistics to estimate fair market value price for local housing; the adjusted R2 statistics value obtained from the five-variable model will not be used due to having lower value than the one obtained from a three variable model. This is an indication that adding information on X2 (number of car garage) and X4 ( number of bathrooms) do not appear to help to explain selling prices in any significant way when X1, X3 and X5 are already in the model. | The Best Model: | The best model is the model whose regression analysis resulted in the highest value for the R2 or adjusted R2 statistics. And this model is the regression model with three variables represented by: X1 – Total Floor Area X3 – Total Number of Bedrooms X5 – Either being sold directly by the owner or through a realtor agentThe regression functions for this model is: Ŷi = 134.929 + 0.108X1 – 25.696X3 + 51.79X5 [±2(51.482)]
§ How are the hospital’s revenues and expenses grouped for planning and control? • Format your paper consistent with APA guidelines. Discussion Questions 1 and 2 HCS 405 week 4 Individual Assignment, Simulation Review • Resource: University of Phoenix Material: Simulation Review Paper and SIMULATIONS: Analyzing Financial Indicators for Decision Making • Review the Simulation Review Paper document located in the materials section in Week Four on the student Web site. Review the grading criteria located in Week Four on your student website. • Review the Simulation Review Paper and the Analyzing Financial Indicators for Decision Making documents located on the student website.
I am somewhat confident with my answer because I used simulation process correctly to find the loss of revenue and also, I used random numbers for calculating this. There are some limitations with the simulation process. The first one is that the cumulative weeks will generally not add up to accurate 52 as in my work, the final cumulative week comes as 50.968 so this is not the revenue lost in exactly 1 year. Also, if we apply simulation again then we will get the different answer for revenue loss. Therefore, it is better to apply simulation a number of times and then take the average of all those
(Hint: be sure to enter a sentinel value for end of file processing later.) Part B: Using a separate algorithm, use the monthly_Sales.dat file as input to determine the company’s annual profit. Be sure to THINK about the logic and design first (IPO chart and or pseudocode), then code the Visual Logic command line processing. Rubric: When completed staple the following documents together neatly in 1,2,3,4 order: 1) This instruction sheet first 2) The IPO Chart, second 3) The Pseudocode, third 4) The Flowchart and output example last. Point distribution for this application: Annual Profit | Document: | Points possible: | Points received | Part A | 10 | | Part B | 10 | | Total Points | 20 | | IPO Chart A: Input | Processing | Output | | | | Pseudocode: Start Display “Begin writing to file: monthly_Sales.txt Display “Data for 12 months has been written to the monthly_Sales.txt file.” Declare sales = 10000 FOR month From 1 To
(Total 100 marks) Modern Furniture Company was started in 1992 in California and its business includes manufacture of furniture with modern design. The financial statements of Modern Furniture Company are shown in Exhibit 1 and 2. Exhibit 1 Income Statement for year ending December 31, 2011 (Figures in $ million except for per share data) 2011 $2,200 $1,980 $53.3 $166.7 $42.5 $49.7 $74.5 $43.8 $30.7 $5.26 $3.09 Revenues Costs Depreciation EBIT Interest Taxes Net income Dividends Retained Earnings Earnings per share Dividends per share Exhibit 2 Balance Sheet as of December 31, 2010 and 2011 (Figures in $ million) 2010 Current assets Cash and Securities Receivables Inventory Total Current assets Fixed assets: Property, Plant and Equipment Less Accumulated depreciation Net fixed assets Total Assets Current Liabilities Debt due within 1 year Payables Total Current Liabilities Long-term debt $75.0 $433.1 $339.9 $848.0 2011 $110.0 $440.0 $350.0
In this day and time you have multiple options you could go with. Nothing forces you to do one over the other. It may seem normal to choose one of these options. Given that nothing disgruntles your choice, it seems quite plausible that you act freely when you actually say or do what you had originally decided to do. Compatibilists believe that is the most correct thing to do.
i.e. when the two months are added together, you end up in the right spot overall. If they are explainable as “reversing” in the next period, other than ensuring the expected reversal takes place then no further action need be taken. The most powerful question you have at your disposal is WHY did this variance occur? The difference could simply have arisen because of a data entry typo – don’t panic or go yelling and the wrong people for the wrong things!