Write a short email to the board of directors explaning to them three examples of the judgement exercised when accounting for property, plant, and equipment. Also explain the implications of exercising judgement. Note that not all the directors have an accounting background.
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Write a short email to the board of directors explaning to them three examples of the judgement exercised when accounting for property, plant, and equipment.
Also explain the implications of exercising judgement.
Note that not all the directors have an accounting background.
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- Which of the following documents will contain information about the compensation for Directors of a public company: The 10Q The Proxy Statement The Annual Report The outside Auditors ReportExplain the steps that should be taken by an internal accountant/CMA when there is a difference of opinion with one's supervisor on an accounting or financial reporting manner.1. List three types of records that a company must keep for tax purposes. 2. Explain why the ATO conducts audits. 3. List three key principles that should be followed when managing a work team
- What is an accountant’s duty of care? What is GAAP and GAAS? Discussion Topic Two: Do some quick internet research and fine a case that deals with an accountant that has been found to have breached the duty of care. Provide a brief summary of the facts of the case, and provide the court's analysis. Be sure to use a referenceAdvanced Accounting requires many rules and regulations. The latter come from many sources. In your Journal this week you will research two rules or regulations that pertain to Advanced Accounting topics and submit them to your Unit 1 Journal. For each of the rules or regulations, answer the following questions. What is the name of the rule or regulation? What agency or government created the rule or regulation? Does any agency or government have the power to enforce the rule or regulation? If so how? If not, does this hinder the enforcement of the rule or regulation?The person MOST likely to use management accounting information is a: Select one: O a. banker evaluating a credit application. Ob. shareholder evaluating a stock investment. Oc assembly department supervisor. Od. governmental taxing authority.
- Please list and describe all of the issues that concern accountants and auditors regarding potential liability for their work to their clients.The Sarbanes-Oxley Act provides for requirements with respect to which committee(s) of a company's board of directors? Select one: A. Nominating committee. B. Audit committee. C. Compensation committee and audit committee. D. Nominating committee and compensation committee.Explain each of the following items:a. Staff Accounting Bulletins.b. Wraparound filing.c. Incorporation by reference.d. Division of Corporation Finance.e. Integrated disclosure system.f. Management’s discussion and analysis.g. Chief accountant of the SEC.
- Which of the following are not the rights of the auditors? a) The right to all information and explanations (from management) necessary for the proper conduct of the audit. b) The right to receive notice of all meetings of the directors and to attend those meetings. c) The right to speak at shareholders’ meetings on matters affecting the Management. d) The right to visit the branches of the client and right to access all accounting books and records. e) The right to examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity f) The right to review data about material assets, net worth, liabilities, capital stock, surplus, income and expenditures Only d) , e) and f) All a) , b) , c) , d) and e) Only e) and f) None of the options givenWhat are the prohibitions in the Code of Ethics for Professional AccountantsWhen accountants agree to perform a compilation or review of unaudited financial statements, the best way to avoid clients’ misunderstanding the nature of the work is to describeit completely ina. An engagement letter.b. The auditors’ opinion.c. A report to the clients’ board of directors at the close of the engagement.d. A management letter to the board of directors’ audit committee.