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Is there agreement among the different groups? Explain the issues where there is agreement or disagreement and give illustrations.
Describe the nature and scope of management Accounting. What is the procedure of forfeiture and re-issue of shares?
Describe Accounting rule of Nominal account. Describe Tangible and Intangible Assets.
Group management might need to keep certain material sensitive information confidential. State all four examples of matters that may be significant to the financial statements of component of which
Discuss and illustrate out the auditor’s and management’s responsibilities for prevention and detection of fraud. Describe and illustrate out four (4) risk factors which are particularly r
Illustrate out the objective of audit of a bank’s financial statements. Illustrate out and discuss how the need to process high volumes of transactions accurately within a short time might con
Summarize the data in mathematical notation to facilitate calculation and denomination. Compute the risk of this portfolio. On what term does the risk of the portfolio depend?
Illustrate out the usefulness of fixed budgeting and flexible budgeting from the standpoint of planning and control.
Costs may be categorized in a variety of ways according to information needs of management. Illustrate out this statement with appropriate examples.
A and B Share profits and losses in the ratio of 5:2. They have decided to dissolve the firm. Assets and external liabilities have been transferred to Realization account.
Illustrate the exceptions to the creation of Debenture Redemption Reserve as per SEBI Guidelines.
Explain the limitations of financial statements. Describe the preparation of income and expenditure account by a non-profit organisation.
A company produces three products and is reviewing the production and sales budgets for the next accounting period. The following information is available for the three products:
General Components Ltd generates a component ‘X’, the selling price of which is Rs 50. The unit cost structure based on the present level of production or sales of 100 000 units are:
Describe the incidence of Taxation in the case of direct taxes. Describe the role of public enterprises in developing countries.
Define the term control environment? Why is it significant to an entity?
List and define four assertions regarding classes of transactions and events for the period under audit.
Daren, Eden and Waren are in partnership sharing profit and losses in the ratio of 5:2:3 correspondingly. At 1 November 2011 their capital and current account balances were:
Differentiate between a contingent asset and a contingent liability and when they must be disclosed.
What do you mean by the term Conceptual Framework in Accounting?
According to you, have you made Mr.Peterpan’s Financial Statements on a Going Concern basis? Support your answer with two arguments.
By using suitable illustrations distinguish between capital expenditure and revenue expenditure.
Make the Sales Ledger Control Account and the Purchases Ledger Control Account for the year ended 30 June 2012 for Jarvis Plc.
Huby Edge Enterprise has been operating in the textile sector for the last five years. It has produced the given trial balance for the year ended June 2012.
For each of the given specific audit procedures illustrated below, point out the type of audit procedures it represents: