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What fraud risks may be indicated by the year-to-year comparisons of Tesla's financial statements (refer to Exhibits 1 and 2 in the case study)?
Is it a manufacturing, merchandising, or service organization? How could the costs differ if one method is chosen over the other?
Explain a correction to the calculation in the initial post. Compare how your calculated WACC is different than your classmate's calculated WACC.
Describe the type of inventory valuation method that your company uses and explain why it uses this method. What are the benefits of this method?
In the organization that you researched, recommend preventive measures to prevent skimming and cash larceny types of fraud from reoccurring.
Divisions and Product Lines may be discussed in the MD&A section. What audit and internal control issues may arise in these areas as you consider.
In a report, 2 to 3 pages single-spaced, describe the purpose of the audit software and describe its capabilities.
How would the auditors demonstrate that all the accounts that suffered losses (actual accounts and potential accounts were reviewed?
Discuss the reasons for consolidation of the company's VIE(s). The effect of the consolidation of the VIE(s) on the company's financial statements.
Describe the accounting for any non-controlling subsidiary interest and any other business combination-related items in the consolidated statement of cash flows
Adjusted Trial Balance: Prepare the adjusted trial balance on the Trial Balance tab, ensuring that the debit and credit totals match.
Discuss the steps Perez, Chambers and Powers should follow with regard to dealing with a predecessor auditor and a new client before accepting the engagement.
Analyze the current IRS rules related to capital gains and losses on the sale of real property.
Prepare the journal entries for only these transactions. Statement of shareholder equity. Prepare the balance sheet.
List the topic headings from the auditors' report on Critical Audit Matters. Examples might be Internal Control or Inventory or Goodwill Impairment.
Explain how a financial statement would differ under IFRS as opposed to GAAP. How is a financial statement under IFRS different from GAAP?
Discuss the primary factors that contribute to fraudulent activity. Consider how the GAAP and IFRS principles apply to the example you selected.
Discuss the special points that should be kept in the mind as an auditor for developing an audit programme.
What does net income mean on the income statement? If I have enough cash at the end of the month then I assume I made money.
Consider the following statement: The fewer the uncollectible accounts, the better. Can you think of instances where this might not be the case?
Discusses the impact that regulations, accounting, and auditing standards have on the ethics of accountants and auditors.
Suggest the critical tax issues the client should consider in determining the deductibility of the net operating losses.
Discuss why you think the historical cost approach best values the long-term assets on balance sheet. In addition, provide an example to support your position.
Which type of accounting is the manager using, financial or managerial? Explain.