Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Question 1- Evidence plays a critical role in auditing. Without quality evidence, auditors cannot arrive at the right conclusions about audit objectives. Evidence can be considered strong if it is persuasive. Persuasiveness, in turn, can be achieved if the evidence is relevant, sufficient, and competent. There is relevance if different results would generate different conclusions regarding the audit objective. There is sufficiency if there is enough evidence to arrive at a conclusion and there is competency if it is credible. When evaluating evidence, auditors may follow 11 guidelines, which focus on the issues of relevance, objectivity, documentation, externality, sample size, sampling method, corroboration, timeliness, authoritativeness, directness and adequacy of controls.

Every auditor needs to present quality evidence, but what makes it competent, relevant, and sufficient isn't always clear. Eleven guidelines can help close the case.

Conduct research on the importance of the quality of evidence relied upon during an audit engagement. Why do you feel it is important to gather quality evidence? Use your research to support your conclusions.

Question 2- Leveraging your information literacy skills can provide an advantage to you in a job interview - you benefit if an employer can tell you are well-versed in seeking out information effectively and using it to your advantage.

So how might you do this? Explain one way in which you could make your superior information literacy skills evident in job interview. What examples could you use? How can you make clear the advantage hiring you would provide the employer?

Question 3- Visit the website of the Congressional Budget Office (http://www.cbo.gov) and find the U.S. Federal deficit (surplus) and total debt.

As late as 1992, the United States was running budget deficits of nearly $300 billion. During the remainder of the 1990's, deficits declined and became surpluses. As the new century began, these surpluses again turned into deficits.

• Explain the decline in deficits and subsequent surpluses in the late 1990's.
• Explain the return to deficit spending since the turn of the century.
• Consider the causes of the deficits and surpluses and provide your own insight as to whether these surpluses or deficits have a "positive" or "negative" effect on our economy.

Question 4- The written word has had an impact on the human condition for centuries. We have all been touched in some way or another by literature. This week, you will take a literary journey by searching the Internet for the pieces below. In addition to reading the story, you should find out something about the author of your chosen piece as well. After making your choice, come back and share your impressions of the story and explain how it contributes to our discussion of the Humanities.

Choose one of the following options (or find a piece of literature of your choosing to report on):

• "A Rose for Emily" by William Faulkner
• "Girl" by Jamaica Kincaid
• "The Story of an Hour" by Kate Chopin
• "Exodus" by James Baldwin
• You may also choose the following story: "Free" by Georgia Douglas Johnson.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M91611483
  • Price:- $25

Priced at Now at $25, Verified Solution

Have any Question?


Related Questions in Accounting Basics

Question - jennifer is a cpa and a single taxpayer using

Question - Jennifer is a CPA and a single taxpayer using the standard deduction. In 2018, her CPA practice generates net income of $162,000 and she has no other income or losses. Jennifer's taxable income before the QBI ...

Question - on january 1 2017 bonita corporation purchased

Question - On January 1, 2017, Bonita Corporation purchased 325 of the $1,000 face value, 9%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2027, and pay interest annually beginning January 1, 2018. Bonita ...

Question - good cash management is an essential job of the

Question - Good cash management is an essential job of the financial manager! You own a small auto sales business called King Kars. You stock up on inventory in February, April, June, and September. Your annual cash budg ...

Question - accounting ninja incorporateds income statement

Question - Accounting Ninja Incorporated's Income Statement showed the following relvant data for thwe year ended December 31, 2017: Sales revenue - $207037 CPGS - $121277 Income from continuing operations - $253838 Loss ...

Question - metlock corporation traded a used truck cost

Question - Metlock Corporation traded a used truck (cost $28,400, accumulated depreciation $25,560) for a small computer with a fair value of $4,686. Metlock also paid $710 in the transaction. Calculate the journal entry ...

Question marion the monopolist faces the following demand

Question: Marion the monopolist faces the following demand function: Q = 22,000 - 8P. She faces the following cost function: TC = 5,000,000 + 140Q. Calculate the price and quantity at which profits are a maximum. What ar ...

Question - on january 1 revis consulting entered into a

Question - On January 1, Revis Consulting entered into a contract to to create cost reduction program for Green Financial over a six-month period. Revis will receive $60,800 from Green at the end of each month. If total ...

Question - richard and pauline jackson have a small mowing

Question - Richard and Pauline Jackson have a small mowing and gardening business in which they have been working for the last eight years. As it is only the two of them in the business they operate as a partnership. The ...

Question - cypress ltd inc purchased a 7-year asset in july

Question - Cypress LTD Inc. purchased a 7-year asset in July for $200,000. More than 40% of the total additions for that year were placed in service during the fourth quarter. Neither the straight-line method nor the 150 ...

Question during the current year merchandise is sold for

Question: During the current year, merchandise is sold for $18,300 cash and $295,700 on account. The The cost that is reported as an expense when merchandise is sold.cost of the merchandise sold is $188,000. What is the ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As