Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask HR Management Expert

1) Describe an ex of an attestation engagement.

2) Describe a fraud scheme that could be used for information assets and describe the controls that can mitigate this fraud risk.

3) describe the links between business continuity, system availability, and disaster recovery.

The completeness assertion is crucial for accounts payable. A common financial statement misstatement involves companies moving current liabilities from accounts payable to long term liabilities or to some other account in order to improve their financial statement liquidity ratios. When a company begins to drown in their accounts payable balance, it diminishes the financial strength of their balance sheet. In addition, many companies have debt covenants in place attached to their long term and short term debt, and the covenants usually state that current liabilities must be kept below a certain amount. If the A/P has climbed above an acceptable amount, it gives management the motivation to move A/P to another area, or to postpone posting A/P transactions that should be included in the current financial statement, until the next period. When an auditor tests for the completeness assertion for accounts payable, the auditor is testing to verify that all A/P transactions which should be included are included in the financial statements, and that they are being carried at the proper amounts.

4) Accounts payable is usually the largest current liability in a balance sheet and a significant factor in evaluating an entity's short-term solvency. The audit of payables places greater emphasis on the completeness assertion. The reason for this is that if management were motivated to misrepresent payables, it would likely be to understate them in order to report a more favorable financial position. Correct?

If management is held too rigidly to delivering targeted earnings, it may cause the incentive to misstate the financial statement through the management of purchases cutoff or other steps that result in unrecorded liabilities.

HR Management, Management Studies

  • Category:- HR Management
  • Reference No.:- M927499

Have any Question? 


Related Questions in HR Management

Is lafarge practicing system 4 management provide support

Is Lafarge practicing System 4 Management? Provide support for your answer. Does "The Lafarge Way" have an influence on turnover at the organization? How so? Why is System 4 Management important in a constantly changing ...

The human resources department has been tasked by the ceo

The Human Resources department has been tasked by the CEO to develop a training workshop on collective bargaining for upper management. Your department must analyze the obligations arising out of collective bargaining. D ...

Assignmentfor this assignment you will turn in your

Assignment For this assignment, you will turn in your Letter/Report to BluJay Aviation, Inc. Include your company name in the letter/report. The letter/report should be submitted to BluJay Aviation, Inc., from your consu ...

Emergency management assignmentclick on the following links

Emergency Management Assignment Click on the following link(s) for the Phase 4 Reading Assignment: • Cyber Threats to National Security https://class.coloradotech.edu/CbFileShareCommon/ctu/HLS340/Assignment_Assets/Cyber_ ...

Managing a crisiscrisis management and crisis

Managing a Crisis Crisis management and crisis communications are specialized business disciplines. In times of crisis, companies can act in a number of ways; from ignoring the situation and hoping it passes in the next ...

For this assignment you will evaluate employee empowerment

For this assignment, you will evaluate employee empowerment initiatives. Through this article review, you will learn how to determine whether an employee empowerment initiative is driven by Model I values or Model II val ...

Employee relations and avoiding litigation please respond

"Employee Relations and Avoiding Litigation" Please respond to the following: Examine the major benefits to an organization that allocates organizational resources towards employee relations activities. Then, specify two ...

Review the employee handbook at your place of employmentin

Review the employee handbook at your place of employment. In your response, discuss what the handbook says about how the company deals with disability issues and accommodating employees with disabilities. Explain what, i ...

Middleville regional health care is one 1 of three 3

Middleville Regional Health Care is one (1) of three (3) hospitals serving a community of 350,000 people. Summary statistics on Middleville and its competitors, from the AHA Guide, are shown below in Table 1. All three o ...

Vision mission and values statementsthe course is

Vision, Mission, and Values Statements The course is structured so that each week you will work on specific segments of your marketing plan for the Final Project that is due in Week Six. This week you will choose a speci ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen